Fitch Ratings has taken the following rating actions on Banc of America Funding Corp. certificates. The classes represent a beneficial ownership interest in separate trust funds. Unless stated otherwise, any bonds that were previously placed on Rating Watch Negative are now removed.
Banc of America Funding 2006-R1 Trust
--Class A-1 downgraded to 'BBB' from 'AA-'; Outlook Stable
--Class A-2 upgraded to 'AAA' from 'AA-'; Outlook Stable
--Class A-3 downgraded to 'BBB' from 'AA-'; Outlook Negative
--Class B-1 downgraded to 'CCC/DR1' from 'BBB';
--Class B-2 downgraded to 'CC/DR3' from 'BBB-'.
Banc of America Funding 2006-R2 Trust
--Class A-1 downgraded to 'B' from 'AA-'; Outlook Negative;
--Class A-2 downgraded to 'B' from 'AA-'; Outlook Negative;
--Class B-1 downgraded to 'CC/DR3' from 'BBB';
--Class B-2 downgraded to 'C/DR6' from 'BBB-'.
The rating action was taken as part of Fitch's ongoing surveillance process of existing transactions.
Further information regarding current delinquency, loss, and credit enhancement statistics is also available at www.fitchratings.com.
Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. 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.