Negative Ratings Actions hit $4 Billion RMBS
Ace Securities Corp. saw $243 million in classes of 2006-SL2 downgraded by Fitch. Changes to Fitch’s subprime loss forecasting assumptions led to downgrades on $145 million in classes of HASCO Series 2007-HE2, whole another $648 million was placed on Rating Watch Negative. The forecasting changes also led Fitch to downgrade $974 million of classes from Securitized Asset Backed Receivables Series 2007-BR2 and place another $974 million on negative watch. Two SASCO deals from 2007 were also impacted by Fitch’s changes, with $338 million in classes downgraded and $747 million placed on Rating Wat h Negative.