Fitch Ratings has downgraded 293 classes and affirmed 246 classes in 82 U.S. scratch and dent RMBS transactions.
“Many of these transactions contain collateral that was seasoned and/or seriously delinquent at the time of the transaction’s issuance,” Fitch said of the transactions, which have issuance dates ranging from 1997 to 2007.
The deals were comprised at the time of issuance of some combination of performing, reperforming, subperforming, or nonperforming collateral.
