Fitch Ratings has downgraded 119 bonds in 85 RMBS transactions to 'D,' saying the securities have suffered writedowns on the underlying principal.

All the bonds affected previously had had 'C' ratings that indicated a default was expected.

Eighty of the bonds downgraded were from subprime credit deals and 33 of the bonds downgraded were from alternative-A credit deals.

The remaining six bonds were from miscellaneous other RMBS transaction types, according to Fitch.

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