Fitch Ratings has downgraded C-BASS Investment Management LLC's CDO asset manager rating from CAM1-minus to CAM3.Fitch said the rating remains on Rating Watch Negative pending the expected near-term resolution of the company's future operational status. Fitch rates asset managers of collateralized debt obligations by asset class on a scale of 1 to 5, with 1 being the highest rating. Fitch can be found on the Web at http://www.fitchratings.com.

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