Correction: Fitch Upgrades 8 & Affirms 13 RMBS Classes from 5 C-BASS Issues.

NEW YORK -- (This is a revised version of a press release that was issued on Friday Jan. 28, and contains amended rating information on classes 1D and 1E of series 1998-1 group 1. The headline reflects this change as well.)

Fitch has taken the following rating actions on Credit Based Asset Servicing and Securitization (C-BASS) issues:

Series 1998-1 group 1

-- Classes 1A, 1B affirmed at 'AAA';

-- Class 1C upgraded to 'AAA' from 'AA';

-- Class 1D upgraded to 'AA' from 'A';

-- Class 1E upgraded to 'A' from 'BBB'.

Series 1998-1 group 3

-- Class 3A, 3B affirmed at 'AAA';

-- Class 3C affirmed at 'AA'.

Series 1999-CB1 group 1

-- Classes 1A affirmed at 'AAA';

-- Class 1M-1 upgraded to 'AAA' from 'AA';

-- Class 1M-2 upgraded to 'AA' from 'A';

-- Class 1M-3 upgraded to 'A' from 'BBB'.

Series 1999-CB1 group 2

-- Classes IIA, IIM1 affirmed at 'AAA';

-- Class IIM2 affirmed at 'AA';

-- Class IIB affirmed at 'BBB+'.

Series 2001-CB2

-- Class A-3F, A-1A affirmed at 'AAA';

-- Class M-1 upgraded to 'AAA' from 'AA';

-- Class M-2 upgraded to 'AA' from 'A';

-- Class B-1 affirmed at 'BBB';

-- Class B-2 affirmed at 'B'.

The affirmations on $53,605,107 of the above classes reflect credit enhancement consistent with future loss expectations. The upgrades on $13,007,146 of the above classes are due to the growth within credit enhancement (CE), comprising subordination and overcollateralization relative to future loss expectations.

The CE levels for series 1998-1 group 1 classes 1-C, 1-D, and 1-E have increased by approximately three times (x) original enhancement levels at the closing date (June 26, 1998). Class 1-C currently benefits from 7.38% subordination (originally 2.25%); class 1-D benefits from 5.56% subordination (originally 1.75%); and class 1-E benefits from 3.73% subordination (originally 1.25%). There is currently 22% of the original collateral remaining in the pool (based on principal balance).

The CE levels for series 1999-CB1 group 1 classes 1M-1, 1M-2, and 1M-3 have increased by approximately 3x original enhancement levels at the closing date (March 25, 1999). Class 1M-1 currently benefits from 8.16% subordination (originally 2.5%); class 1M-2 benefits from 6.32% subordination (originally 2%); and class 1M-3 benefits from 4.11% subordination (originally 1.4%). There is currently 23% of the original collateral remaining in the pool.

The CE levels for series 2001-CB2 classes M1 and M2 have increased by more than 4x original enhancement levels at the closing date (June 14, 2001). Class M1 currently benefits from 31.7% subordination (originally 7%); class M2 benefits from 20.79% subordination (originally 4.4%). There is currently 24% of the original collateral remaining in the pool.

Series 1999-CB1 group 1 consists of 100% FHA/VA loans. All the other transactions comprise subprime quality obligors, and each contain some amount of subperforming and/or reperforming loans (between 4% and 18%).

Further information regarding current delinquency, loss, and credit enhancement statistics is available on the Fitch Ratings web site at www.fitchratings.com.