More B&C Securities Downgraded

In addition to the more than 200 additional classes of subprime mortgage-backed securities downgraded because of revised subprime loss assumptions (see item above), Fitch Ratings has also downgraded more than 90 additional classes of B&C MBS that it did not link to the changed assumptions.Fitch also affirmed the ratings on more than 120 classes from the same transactions. Among the MBS affected by the downgrades were: 52 classes from 14 issues of Credit Suisse First Boston Home Equity Asset Trust deals; 12 classes from five Option One issues; eight classes from five Asset Backed Securities Corp. issues; and eight classes from two Countrywide Asset-Backed Securitization Trust issues. The downgrades were attributed to deterioration in the relationship between credit enhancement and loss expectations.