Fitch Rates ABSC $1.5B Home Equity Loan Trust, Series 2005-HE6.

NEW YORK -- Asset Backed Securities Home Equity Loan Trust, $1.5 billion asset-backed pass-through certificates, series 2005-HE6, which closed on Aug. 4, 2005, are rated by Fitch Ratings as follows:

-- $1.17 billion classes A1, A1A and A2A through A2D 'AAA';

-- $74.29 million class M1 'AA+';

-- $48.78 million class M2 'AA';

-- $29.27 million class M3 'AA-';

-- $26.26 million class M4 'A+';

-- $24.76 million class M5 'A';

-- $22.51 million class M6 'A-';

-- $20.26 million class M7 'BBB+';

-- $15.76 million class M8 'BBB';

-- $12.76 million class M9 'BBB-';

-- $18.76 million non-offered class M10 'BB+';

-- $15 million non-offered class M11 'BB'.

The 'AAA' rating on the senior certificates reflects the 22.20% total credit enhancement provided by the 4.95% class M1, the 3.25% class M2, the 1.95% class M3, the 1.75% class M4, the 1.65% class M5, the 1.50% class M6, the 1.35% class M7, the 1.05% class M8, the 0.85% class M9, 1.25% non-offered class M10, 1.00% non-offered class M-11, and the initial and target overcollateralization (OC) of 1.65%. All certificates have the benefit of monthly excess cash flow to absorb losses. In addition, the ratings reflect the quality of the loans, the integrity of the transaction's legal structure, as well as the capabilities of Option One Mortgage Corp. as servicer and Deutsche Bank National Trust Company, as trustee. In addition, the class A2D certificates will have the benefit of the certificate insurance policy issued by CIFG Assurance North America Inc.

The certificates are supported by two collateral groups. Group 1 will consist of mortgage loans that have original principal balances that conform to Fannie Mae and Freddie Mac guidelines. The Group 1 mortgage pool consists of first and second lien, adjustable-rate and fixed-rate mortgage loans that have a cut-off date pool balance of $597,537,890. Approximately 17.79% of the mortgage loans are fixed-rate mortgage loans and 82.21% are adjustable-rate mortgage loans. The weighted average current loan rate is approximately 7.412%. The weighted average remaining term to maturity is 355 months. The average principal balance of the loans equals $176,786. The weighted average original loan-to-value (OLTV) ratio is 77.70%. The properties are primarily located in California (16.58%), Florida (10.07%) and Massachusetts (9.69%).

Group 2 will consist of original balances that may or may not conform to Fannie Mae and Freddie Mac guidelines. The Group 2 mortgage pool consists of first and second lien, adjustable-rate and fixed-rate mortgage loans that have a cut-off date pool balance of $903,279,999. Approximately 15.75% of the mortgage loans are fixed-rate mortgage loans and 84.25% are adjustable-rate mortgage loans. The weighted average current loan rate is approximately 7.34%. The weighted average remaining term to maturity is 356 months. The average principal balance of the loans equals $188,340. The weighted average OLTV ratio is 78.61%. The properties are primarily located in California (21.06%), New York (9.88%) and Florida (9.75%).

For federal income tax purposes, multiple real estate mortgage investment conduit (REMIC) elections will be made with respect to the trust estate.

Option One was incorporated in 1992, and began originating and servicing subprime loans in February 1993. Option One is a subsidiary of Block Financial, which is in turn a subsidiary of H & R Block, Inc.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.