by Calculated Risk on 10/19/2007 04:02:00 PM

From Fitch: Affirms $1.27B & Downgrades $265.5MM from 4 IndyMac Subprime Transactions (hat tip sr)

Fitch Ratings has taken the following rating actions on IndyMac Banks INABS certificates. Affirmations total $1.27 billion and downgrades total $265.5 million.

(see press release for details)

The rating actions are based on changes that Fitch has made to its subprime loss forecasting assumptions. The updated assumptions better capture the deteriorating performance of pools from 2006 and late 2005 with regard to continued poor loan performance and home price weakness.