Fitch downgrades Indymac

Fitch Ratings said it downgraded Indymac Bancorp, Inc.'s long- and short-term issuer default ratings to D from C and its individual rating to F from E. Indymac Capital Trust I's preferred stock was affirmed at C/RR6.

The ratings were removed from Rating Watch negative.

The downgrade follows the company's announcement that it will file a voluntary petition seeking relief under Chapter 7 of Title 11 of the United States Code. Fitch said it will withdraw the ratings of Indymac in about 30 days.

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