Fitch Ratings Affirms 5 Classes from 1 New Century Home Equity Loan Trust Issue.Business Editors NEW YORK--(BUSINESS WIRE)--Nov. 13, 2003 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 taken rating action on the following New Century Home Equity Loan Trust issue: Series 2002-1 -- Class A 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. at 'AAA'; -- Class M-1 affirmed at 'AA'; -- Class M-2 affirmed at 'A'; -- Class M-3 affirmed at 'BBB'; -- Class M-4 affirmed at 'BBB-'. The affirmations on these classes reflect 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'. |
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