Westways CDO Notes Downgraded

Twenty-five classes of notes and loan interests issued by Westways Funding VI, VII, VIII, IX, and XI mortgage market value collateralized debt obligations have been downgraded by Derivative Fitch.In addition, 14 classes from the CDOs have been placed on Rating Watch Negative. The negative rating actions were attributed to "uncertainty in the proceeds that will be achieved during a possible forced sale of assets given the price volatility that even highly rated securities have seen in the current market environment." Fitch can be found on the Web at http://www.derivativefitch.com.