Two classes of Structured Finance Advisors Collateralized Asset Backed Securities Trust II CDO Ltd. have been downgraded by Fitch Ratings.The class notes were downgraded from BB to B, and the class C notes were downgraded from CC to C. The triple-A rating on class A was affirmed. SFA CABS II is a collateralized debt obligation supported by residential and commercial mortgage-backed securities, asset-backed securities, and CDOs, Fitch said. The downgrades were attributed to the declining credit quality of the collateral and the decline in the coverage of the notes, the rating agency said. Fitch can be found online at http://www.fitchratings.com.
Processing Content
