Fitch Rates ABSC's $822.3MM A-B P-T Certificates Series 2003-HE6.

Business Editors

NEW YORK--(BUSINESS WIRE)--Nov. 4, 2003

Fitch rates Asset-Backed Securities Corporation (ABSC) Home Equity Loan Trust, series 2003-HE6, as follows:

-- $684.5 million classes A1, A2, A3-A, A3-B and A-IO certificates 'AAA';

-- $49.3 million class M1 certificates 'AA';

-- $43.2 million class M2 certificates 'A';

-- $14.4 million class M3 certificates 'A-';

-- $10.3 million class M4 certificates 'BBB+';

-- $10.3 million class M5 certificates 'BBB';

-- $10.3 million class M6 certificates 'BBB-'.

The 'AAA' rating on the A1, A2, A3-A, A3-B and A-IO senior certificates reflects the 16.75% subordination provided by classes M1, M2, M3, M4, M5 and M6, monthly excess interest, and future overcollateralization (OC) of 2.05%. The 'AA' rating on class M1 reflects the 10.75% subordination provided by classes M2, M3, M4, M5 and M6, monthly excess interest, and future OC. The 'A' rating on class M2 reflects the 5.50% subordination provided by class M3, M4, M5 and M6, monthly excess interest, and future OC. The 'A-' rating on class M3 reflects the 3.75% subordination provided by classes M4, M5 and M6, monthly excess interest, and future OC. The 'BBB+' rating on class M4 reflects the 2.50% subordination provided by classes M5 and M6, monthly excess interest, and future OC. The 'BBB' rating on class M5 reflects the 1.25% subordination provided by class M6, monthly excess interest, and future OC. The 'BBB-' rating on class M6 is supported by monthly excess interest and future OC. In addition, the rating reflects the quality of the underlying collateral, the integrity of the legal and financial structure, and the servicing capabilities of Option One Mortgage Corporation. Wells Fargo Bank Minnesota, National Association will act as trustee.

The mortgage pool consists of first and second lien, fixed-rate and adjustable-rate mortgage loans, with an aggregate principal balance of $822,256,882. All of the mortgage loans were originated by or acquired by Option One Mortgage Corporation. As of the cut-off date (Nov. 1, 2003), the weighted average loan rate is approximately 7.44%. The weighted average remaining term to maturity is 353 months. The average cut-off date principal balance of the mortgage loans is approximately $160,848. The weighted average original combined loan-to-value ratio (CLTV) is approximately 79%, and the weighted average Fair, Isaac & Co. (FICO) score is 601. The properties are primarily located in California (15.68%), New York (13.03%) and Massachusetts (11.20%).

Asset-Backed Securities Corporation, the Depositor, was incorporated in the State of Delaware, and is an indirect wholly owned subsidiary of Credit Suisse First Boston, Inc.