Moody's Revises Ratings on WMC Deals

Moody's Investors Service has downgraded six subordinate classes of securities from WMC Mortgage Loan Pass-Through Certificates series issued between 1997 and 2000.Moody's rating action stems from the subprime collateral's "weaker than anticipated performance" which led to downgrades in some classes. The downgraded classes are: the class M-2 (Baa2 from A2) and class B (B1 from Baa3) certificates in series 1997-2; the class M-2 (Baa1 from A2) and class B (Ba1 from Baa3) certificates in series 1998-1; and class M-2 (Baa1 from A2) and the class B (Ba1 from Baa3) certificates in series 1998-A. Moody's can be found online at http://www.moodys.com.