Truman MBS Classes Downgraded

Three classes from two issues of Truman Capital mortgage-backed securities have been downgraded by Fitch Ratings.The downgrades were as follows: series 2002-1, class M-2, from BBB-plus to BB, and class B, from CC/DR4 to C/DR5; and series 2002-2, class M-2, from BBB-minus to BB-minus. Fitch also affirmed the ratings on three other classes in the two deals. The downgrades resulted from a deterioration in the relationship between credit enhancement and expected losses, the rating agency said. The collateral consists of first- and second-lien residential mortgage loans.