Fitch Affirms $1.7B and Downgrades $2.1B From 7 Long Beach Mortgage Co. Subprime Transactions.
Business Wire › April 08, 2008
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Fitch Affirms $1.7B and Downgrades $2.1B From 7 Long Beach Mortgage Co. Subprime Transactions.
NEW YORK -- Fitch Ratings has taken the following rating actions on Long Beach Mortgage Company mortgage pass-through certificates. Unless stated otherwise, any bonds that were previously placed on Rating Watch Negative are removed. Affirmations total $1.7 billion and downgrades total $2.1 billion. Additionally, $742.9 million was placed on Rating Watch Negative. Break Loss percentages (BL) and Loss Coverage Ratios (LCR) for each class are included with the rating actions as follows:
Long Beach 2005-WL1 TOTAL GROUPS 1 & 2 --$69.9 million class I-A1 affirmed at 'AAA', (BL: 96.53, LCR:...See the full content of this document
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