Fitch Downgrades B&C Securities

Eighteen classes of mortgage-backed securities from several issuers have been downgraded by Fitch Ratings as a result of changes to its subprime loss forecasting assumptions.Fitch also removed five classes from Rating Watch Negative and affirmed the ratings on classes with outstanding balances of over $1.7 billion. Among the securities affected by the latest downgrades were: 21 classes from four issues of Credit Suisse First Boston Home Equity Asset Trust transactions; 13 classes from three issues of Park Place Securities Inc. mortgage pass-through certificates; six classes from two issues of SACO mortgage pass-throughs; three classes from two issues of Ameriquest mortgage pass-throughs; and two classes from one issue of GS Mortgage Securities Corp mortgage pass-throughs. The rating actions were attributed to changes to Fitch's subprime loss forecasting assumptions that "better capture the deteriorating performance of pools from 2006 and late 2005 with regard to continued poor loan performance and home price weakness." The rating agency can be found online at http://www.fitchratings.com.