``The latest series of cuts was announced late Monday, with 10 Ameriquest and Argent-originated subprime deals affected. Total downgrades were an eye-popping $8.1 billion, while affirmations totalled just $1.6 billion, Fitch said in a press statement. $4.3 billion remains on negative rating watch, even after downgrades to numerous `AAA’ rated tranches.''

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