IndyMac MBS Classes Downgraded

Two certificates from securitizations issued by IndyMac in 2000 and 2001 have been downgraded by Moody's Investors Service.The downgrades were as follows: IndyMac Home Equity Mortgage Loan Asset Backed Trust, series 2000-C, class MV-1, from Aa2 to A3; and IndyMac ARM Trust, series 2001-H2, class B-3, from Baa2 to Ba1. Moody's also confirmed the rating on one class in another IndyMac deal. The downgrades were attributed to credit enhancement levels that "may be low" in view of projected losses on the underlying pools. The securitizations are backed by alternative-A and subprime mortgage loans that were originated by IndyMac Bank FSB. Moody's can be found online at http://www.moodys.com.