Class B3 of Structured Asset Security Corp. residential mortgage-backed certificates, series 2005-S5, has been downgraded from CCC/DR2 to C/DR4 by Fitch Ratings.In addition, Fitch affirmed the ratings on 51 classes from four SASCO transactions. The downgrade was attributed to a deterioration in the relationship between credit enhancement and expected losses. The mortgage pool consists of conventional, fixed-rate, fully amortizing and balloon, second-lien residential mortgage loans. Fitch can be found online at http://www.fitchratings.com.

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