Two classes of Structured Asset Securities Corp. mortgage pass-through certificates have been downgraded by Fitch Ratings.The downgrades were as follows: Structured Adjustable Rate Mortgage series 2004-11, class B4, from B to CC/DR3, and class B5, from C/DR5 to C/DR6. In addition, classes B4-II and B5-II of SARM series 2006-12 group 2 and class IB5 of SASCO Lehman Mortgage Trust series 2006-6 group 1 were placed on Rating Watch Negative. Fitch also affirmed the ratings on 34 classes in four transactions. Fitch attributed the negative rating actions to a deterioration in the relationship between loss expectations and credit enhancement.
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