Printer Friendly

Fitch Downgrades 2 & Affirms 1 Class from 1 FGIC-Insured RASC RMBS Deal.

NEW YORK -- Fitch Ratings downgrades two and affirms one class of the following residential mortgage-backed securities (RMBS).

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

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.
COPYRIGHT 2008 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Sep 30, 2008
Previous Article:Landec Corporation Reports First Quarter Fiscal Year 2009 Results.
Next Article:Fitch Affirms 1 & Downgrades 1 Class from 1 FGIC-Insured AFC RMBS Deal.

Related Articles
Fitch Places FGIC on Rating Watch Negative After CDO & RMBS Review.
Fitch Takes Various Rating Actions on U.S. RMBS Wrapped by FGIC.
Fitch Downgrades 2 RMBS Classes from 2 RAMP & RASC NIM Deals.
Fitch Affirms 2 & Downgrades 5 Classes from 1 FGIC-Insured Aegis RMBS Deal.
Fitch Affirms 2 and Downgrades 4 Classes from 1 FGIC-Insured ACE RMBS Deal.
Fitch Places 2 Classes from 1 FGIC-Insured GMAC RMBS Deal on Watch Negative.
Fitch Downgrades 1 Class from 1 FGIC-Insured CSFB HEMT RMBS Deal.
Fitch Affirms 1 & Downgrades 3 Classes from 1 FGIC-Insured Morgan Stanley RMBS Deal.
Fitch Affirms 2 Classes from 1 FGIC-Insured UCFC RMBS Deal.
Fitch Affirms 1 & Downgrades 1 Class from 1 FGIC-Insured AFC RMBS Deal.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters