Correction: Fitch Upgrades 50 & Affirms 58 Classes from 18 Citicorp Mortgage Securitizations.

Business Editors

NEW YORK--(BUSINESS WIRE)--Sept. 17, 2003

(This is an amended a·mend
v. a·mend·ed, a·mend·ing, a·mends

v.tr.
1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive.

2. version of a press release issued Sept. 12, containing revised information on the number of classes being upgraded and affirmed af·firm
v. af·firmed, af·firm·ing, af·firms

v.tr.
1. To declare positively or firmly; maintain to be true.

2. To support or uphold the validity of; confirm.

v.intr. by Fitch fitch: see polecat. , as well as amended rating action information on series 1999-5.)

Fitch Ratings Fitch Ratings

An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has upgraded 50 classes and affirmed 58 classes for the following Citicorp mortgage-pass through certificates:

Citicorp Mortgage Securities, mortgage pass-through certificates Pass-Through Certificates (PTCs) are instruments that evidence the ownership of two or more Equipment Trust Certificates. In other words, Equipment Trust Certificates may be bundled into a pass-through structure as a means of diversifying the asset pool and/or increasing the size , series 1997-1

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AAA';

-- Class B1 affirmed at 'AAA';

-- Class B2 affirmed at 'AAA';

-- Class B3 affirmed at 'AA';

-- Class B4 affirmed at 'A'.

Citicorp Mortgage Securities, mortgage pass-through certificates, series 1997-2

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AAA';

-- Class B1 affirmed at 'AAA';

-- Class B2 affirmed at 'AAA';

-- Class B3 affirmed at 'A';

-- Class B4 affirmed at 'BBB'.

Citicorp Mortgage Securities, mortgage pass-through certificates, series 1997-3

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AAA';

-- Class B1 affirmed at 'AAA';

-- Class B2 affirmed at 'AAA';

-- Class B3 affirmed at 'AA+';

-- Class B4 affirmed at 'A+'.

Citicorp Mortgage Securities, mortgage pass-through certificates, series 1997-4

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AAA';

-- Class B1 affirmed at 'AAA';

-- Class B2 affirmed at 'AAA';

-- Class B3 upgraded to 'AAA' from 'AA+';

-- Class B4 affirmed at 'A+'.

Citicorp Mortgage Securities, mortgage pass-through certificates, series 1997-5

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AAA' ;

-- Class B1 affirmed at 'AAA' ;

-- Class B2 upgraded to 'AAA' from 'AA+';

-- Class B3 upgraded to 'AA-' from 'A+';

-- Class B4 upgraded to 'BBB+' from 'BBB' .

Citicorp Mortgage Securities, mortgage pass-through certificates, series 1997-7

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AAA';

-- Class B1 affirmed at 'AAA';

-- Class B2 upgraded to 'AAA' from 'AA+';

-- Class B3 upgraded to 'AAA' from 'A+';

-- Class B4 upgraded to 'A' from 'BBB'.

Citicorp Mortgage Securities, mortgage pass-through certificates, series 1999-1

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AAA';

-- Class B1 upgraded to 'AAA' from 'AA';

-- Class B2 upgraded to 'AAA' from 'A+';

-- Class B3 upgraded to 'AA' from 'BBB+';

-- Class B4 upgraded to 'BBB-' from 'B+'.

Citicorp Mortgage Securities, mortgage pass-through certificates, series 1999-2

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AAA';

-- Class B1 upgraded to 'AAA' from 'AA';

-- Class B2 upgraded to 'AAA' from 'A+';

-- Class B3 upgraded to 'AA' from 'BBB+';

-- Class B4 upgraded to 'BBB' from 'B+'.

Citicorp Mortgage Securities, mortgage pass-through certificates, series 1999-3

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AAA';

-- Class B1 affirmed at 'AAA';

-- Class B2 upgraded to 'AAA' from 'AA';

-- Class B3 upgraded to 'AA' from 'A';

-- Class B4 upgraded to 'BBB-' from 'BB+'.

Citicorp Mortgage Securities, mortgage pass-through certificates, series 1999-4

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AAA';

-- Class B1 upgraded to 'AAA' from 'AA';

-- Class B2 upgraded to 'AAA' from 'A+';

-- Class B3 upgraded to 'AA-' from 'BBB';

-- Class B4 upgraded to 'BB+' from 'B'.

Citicorp Mortgage Securities, mortgage pass-through certificates, series 1999-5

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AAA' ;

-- Class B1 upgraded to 'AA+' from 'AA';

-- Class B2 affirmed at 'AA-';

-- Class B3 affirmed at 'A-' ;

-- Class B4 affirmed at 'BB-' .

Citicorp Mortgage Securities, mortgage pass-through certificates, series 1999-6

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AAA';

-- Class B1 affirmed at 'AAA';

-- Class B2 upgraded to 'AAA' from 'AA';

-- Class B3 upgraded to 'AA' from 'A';

-- Class B4 upgraded to 'BBB' from 'BB'.

Citicorp Mortgage Securities, mortgage pass-through certificates, series 1999-7

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AAA';

-- Class B1 upgraded to 'AAA' from 'AA';

-- Class B2 upgraded to 'AAA' from 'AA-';

-- Class B3 upgraded to 'AA' from 'A-';

-- Class B4 upgraded to 'BBB' from 'BB'.

Citicorp Mortgage Securities, mortgage pass-through certificates, series 1999-8

-- Class A affirmed at 'AAA'

-- Class M upgraded to 'AAA' from 'AA'

-- Class B1 upgraded to 'AAA' from 'A'

-- Class B2 upgraded to 'AA' from 'BBB'

-- Class B3 upgraded to 'A+' from 'BB'

-- Class B4 upgraded to 'BB+' from 'B'

Citicorp Mortgage Securities, mortgage pass-through certificates, series 2000-1

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AAA';

-- Class B1 affirmed at 'AAA';

-- Class B2 upgraded to 'AAA' from 'AA';

-- Class B3 upgraded to 'AAA' from 'AA-';

-- Class B4 upgraded to 'A' from 'BBB'

Citicorp Mortgage Securities, mortgage pass-through certificates, series 2000-2

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AAA';

-- Class B1 upgraded to 'AAA' from 'AA+';

-- Class B2 upgraded to 'AAA' from 'AA';

-- Class B3 upgraded to 'AA' from 'A';

-- Class B4 upgraded to 'BBB+' from 'BB+'.

Citicorp Mortgage Securities, mortgage pass-through certificates, series 2000-3

-- Class A affirmed at 'AAA';

-- Class M upgraded to 'AAA' from 'AA+';

-- Class B1 upgraded to 'AAA' from 'AA';

-- Class B2 upgraded to 'AAA' from 'A+';

-- Class B3 upgraded to 'AA' from 'BBB';

-- Class B4 upgraded to 'A' from 'BB'.

Citicorp Mortgage Securities, mortgage pass-through certificates, series 2000-6

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AAA';

-- Class B1 affirmed at 'AAA';

-- Class B2 upgraded to 'AAA' from 'AA+';

-- Class B3 upgraded to 'AA' from 'A+';

-- Class B4 upgraded to 'A+' from 'BBB'.

These rating actions are being taken as a result of low delinquencies and losses, as well as increased credit support. The affirmations indicate credit enhancement Credit Enhancement

A method whereby a company attempts to improve its debt or credit worthiness.

Notes:
Credit enhancements take many different forms. An example of a credit enhancement would be conversion rights added on to a debt instrument in order to lower the issuing consistent with future loss expectations.

Further information regarding current delinquency delinquency

Criminal behaviour carried out by a juvenile. Young males make up the bulk of the delinquent population (about 80% in the U.S.) in all countries in which the behaviour is reported. , loss and credit enhancement statistics is available on the Fitch Ratings web site at 'www.fitchratings.com'.

COPYRIGHT 2003 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.

Reader Opinion

Article Details
Printer friendly Cite/link Email Feedback
Publication:	Business Wire
Geographic Code:	1USA
Date:	Sep 17, 2003
Words:	898
Previous Article:	Holliday Fenoglio Fowler Closes Sale of and Secures Financing for Inwood Village Shopping Center in Dallas, Texas.
Next Article:	A.M. Best Upgrades Ratings of WellPoint Subsidiaries.
Topics:	Banking industry

Related Articles
Fitch Upgrades 50 & Affirms 22 Classes From 12 Citicorp Mortgage Securitizations.
Fitch Upgrades 4 & Affirms 3 Classes From 2 ABN AMRO RMBS Securitizations.
Fitch Ratings Upgrades 12 and Affirms 5 Classes From 5 Citicorp Mortgage Securitizations.
Fitch Affs 33 Classes & Upgrs 33 Classes From 21 RMBS Secs.
Fitch Upgrades 34 & Affirms 19 RMBS Classes from 9 Citicorp Securitizations.
Correction: Fitch Upgrades 35 & Affirms 19 RMBS Classes from 9 Citicorp Securitizations.
Fitch Upgrades 52 & Affirms 54 Classes from 18 Citicorp Mortgage Securitizations.
Fitch Ratings Upgrades 26 & Affirms 48 - CMSI - RMBS Ratings from 12 Securitizations.
Correction: Fitch Ratings Upgrades 26 & Affirms 49 -CMSI- RMBS Ratings from 12 Securitizations.
Fitch Upgrades 2 & Affirms 11 RMBS Ratings from 2 GSAA Securitizations.