Two classes of Structured Asset Mortgage Investments mortgage pass-through certificates have been downgraded by Fitch Ratings, and a third has been removed from Rating Watch Negative.The downgrades in the SAMI Inc. series 2000-1 group 1 were as follows: class IB4, from BB to BB-minus, and class IB5, from B to B-minus. The rating on class IIIB4 of SAMI Inc. series 2000-1 group 3 was affirmed at BBB and removed from Rating Watch. In addition, Fitch affirmed the ratings on 35 other classes from several SAMI securitizations. The downgrades reflect deterioration in the relationship between credit enhancement and expected losses, Fitch said.
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