Five classes from three Structured Asset Mortgage Investments Inc. securitizations have been downgraded by Fitch Ratings.The downgrades were as follows: series 1999-1 group 2, class 2B-4, from BB to B, and class 2B-5, from CCC to CC; series 1999-2 group 3, class 3-B-3, from BBB to BB, and class 3-B-4, from B to CCC; and series 2000-1 group 2, class II-B-5, from BB-plus to B-plus. In addition, Fitch upgraded four classes from two of the deals and affirmed the ratings on eight other classes from the three deals. The downgrades reflect deteriorating credit enhancement relative to "consistent or rising monthly losses" and rising delinquencies, Fitch said. The rating agency can be found online at http://www.fitchratings.com.
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