Fitch Downgrades More B&C Classes

More than 100 additional classes of subprime mortgage pass-through certificates were downgraded by Fitch Ratings on April 7 as a result of changes to its subprime loss forecasting assumptions. Fitch also placed five classes of subprime pass-throughs on Rating Watch Negative and affirmed the ratings on classes with outstanding balances of more than $3 billion. The securities affected by the latest downgrades were: 78 classes from 10 issues of Soundview Home Loan Trust mortgage pass-throughs; 15 classes from three issues of Wells Fargo Home Equity Asset-Backed Securities pass-throughs; nine classes from one issue of CSFB Home Equity Asset Trust pass-throughs; and eight classes from one issue of Meritage Mortgage Loan Trust 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." Fitch can be found online at http://www.fitchratings.com.