C-BASS MBS Classes Downgraded

Two classes from Credit Based Asset Servicing and Securitization LLC series 2002-CB6 have been downgraded by Fitch Ratings, and two classes from two C-BASS transactions have been placed on Rating Watch Negative.Class B-2 of series 2002-CB6 has been downgraded from BB-minus to B, and class B-3 has been downgraded from B-plus to C/DR5. Class B-1 was placed on Rating Watch Negative, along with class B-5 of series 2005-CB2. Fitch also affirmed the ratings on 34 classes from four C-BASS deals. The negative rating actions reflect a deterioration in the relationship between credit enhancement and loss expectations, the rating agency said.