Fitch Ratings said today that it downgraded 150 RMBS, 58 Structured Credit, 23 ABS and three CMBS tranches related to 156 Spanish structured finance transactions.

The downgrades applied to tranches at Fitch's ratings cap for SF transactions from Spain and follow the June 7, downgrade of Spain's Long-term foreign currency Issuer Default Rating (IDR) to 'BBB'/Negative from 'A'/Negative.

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