Option One ABS Class Downgraded

Class B of Option One MESA Trust asset-backed certificates, series 2001-2, has been downgraded from BB to B-plus by Fitch Ratings and removed from Rating Watch Negative.Fitch also affirmed the ratings on classes A and M of the transaction and removed class M from Rating Watch Negative. The downgrade was attributed to the poor performance of the underlying collateral. "The amount of available excess interest has not sufficiently covered the greater-than-expected level of losses incurred, resulting in a depletion of overcollateralization," the rating agency said.