Fitch Downgrades 2 & Affirms 1 Class from 1 FGIC-Insured RASC RMBS Deal.
Residential Asset Securities Corporation 2001-KS1
--Class A-1-5 downgraded to ' BB' from 'BBB';
--Class A-1-6 downgraded to ' BB' from 'BBB';
--Class A-II affirmed at 'BBB'.
Classes A-1-5, A-1-6 and A-II are insured by FGIC. Fitch's policy is to maintain ratings on insured transactions at the higher of the underlying rating of the insured transaction if rated by Fitch or the rating of the insurer.
Fitch downgraded FGIC's Insurer Financial Strength (IFS) rating to 'CCC' and also placed the IFS on Rating Watch Evolving. For more information, see the July 31 press release ('Fitch Downgrades FGIC's IFS to 'CCC'; Placed on Rating Watch Evolving') available on the Fitch Ratings web site at www.fitchratings.com.
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|Date:||Sep 30, 2008|
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