Two classes of notes issued by Sunrise CDO I have been downgraded by Fitch Ratings.Class B was downgraded from BBB to BBB-minus, and class C was downgraded from B-minus to CCC-plus. The transaction is a collateralized debt obligation supported by asset-backed securities, residential and commercial mortgage-backed securities, CDOs, and corporate debt securities. Fitch said the downgrades stemmed from the fact that the portfolio has performed poorly as a result of impaired and defaulted assets and a negative change to the weighted average rating factor. The rating agency can be found on the Web at http://www.fitchratings.com.
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