C-BASS MBS Classes Downgraded

Three classes from Credit Based Asset Servicing and Securitization LLC mortgage loan asset-backed certificates, series 2002-CB5, have been downgraded by Fitch Ratings, and two have been removed from Rating Watch Negative.The downgrades were as follows: class B-1, from BBB to BB; class B-2, from BBB-minus to BB-minus; and class B-3, from BB to B-plus. Classes B-2 and B-3 were removed from Rating Watch Negative. Fitch also affirmed the ratings on four classes from the deal. The downgrades reflect a deterioration in the relationship between credit enhancement and loss expectations, the rating agency said. Fitch can be found on the Web at http://www.fitchratings.com.