Fitch Affirms 1 Class & Upgrades 33 Classes From 2 RMBS Securitizations.Business Editors NEW YORK--(BUSINESS WIRE)--April 29, 2003 Fitch Ratings--Fitch Ratings has upgraded 33 classes and affirmed one class of the following residential mortgage-backed certificates: CWMBS, Inc. (IndyMac), 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 1998-J Group 1 -- Class B1A affirmed at 'AAA'; -- Class B1B B1B Boundary-Corrected First Born (for scattering) to 'AAA' from 'AA'; -- Class B1C to 'AAA' from 'A'; -- Class B1D to 'AA' from 'BBB'; -- Class B1E to 'BBB-' from 'B'. CWMBS, Inc. (IndyMac), mortgage pass-through certificates, series 1998-J Group 2 -- Class B2A B2A Business to Administrators B2A Business to Anyone B2A Business to Applications B2A Business to Assets B2A Business to Auctions B2A Business to Arts B2A Business to Administration to 'AAA' from 'AA'; -- Class B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business to 'AAA' from 'A'; -- Class B2C (Business to Consumer) Refers to a business communicating with or selling to an individual rather than a company. See B2B. to 'AA' from 'BBB'; -- Class B2D B2D Backup to Disk B2D Business to Distributor B2D Back to Desktop (software, crash) B2D Bored to Death to 'BBB-' from 'BB'. Wells Fargo Asset Securities Corporation, mortgage pass-through certificates, series 2001-3 -- Class B1 to 'AAA' from 'AA'; -- Class B2 to 'AAA' from 'A'; -- Class B3 to 'AAA' from 'BBB'; -- Class B4 to 'AA+' from 'BB'; -- Class B5 to 'BBB' from 'B'. Wells Fargo Asset Securities Corporation, mortgage pass-through certificates, series 2001-4 -- Class B1 to 'AAA' from 'AA'; -- Class B2 to 'AAA' from 'A'; -- Class B3 to 'AAA' from 'BBB'; -- Class B4 to 'AAA' from 'BB'; -- Class B5 to 'AA-' from 'B'. Wells Fargo Asset Securities Corporation, mortgage pass-through certificates, series 2001-5 -- Class B1 to 'AAA' from 'AA'; -- Class B2 to 'AAA' from 'A'; -- Class B3 to 'AAA' from 'BBB'; -- Class B4 to 'AA+' from 'BB'; -- Class B5 to 'A+' from 'B'. Wells Fargo Asset Securities Corporation, mortgage pass-through certificates, series 2001-6 -- Class B1 to 'AAA' from 'AA'; -- Class B2 to 'AAA' from 'A'; -- Class B3 to 'AAA' from 'BBB'; -- Class B4 to 'AAA' from 'BB'; -- Class B5 to 'A+' from 'B'. Wells Fargo Asset Securities Corporation, mortgage pass-through certificates, series 2001-7 -- Class B1 to 'AAA' from 'AA'; -- Class B2 to 'AA+' from 'A'; -- Class B3 to 'AA-' from 'BBB'; -- Class B4 to 'BBB+' from 'BB'; -- Class B5 to 'BB-' from 'B'. These rating actions are being taken as a result of low delinquencies and losses, as well as increased credit support. Further information regarding current delinquency, loss and 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 statistics is available on the 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. web site at 'www.fitchratings.com'. |
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