Fitch Ratings Affirms ALESCO Preferred Funding VI, Ltd.

CHICAGO -- Fitch Ratings affirms eleven classes of notes issued by ALESCO Preferred Funding VI, Ltd. (ALESCO VI). These affirmations are the result of Fitch's review process and are effective immediately:

-- $365,000,000 class A-1 notes affirmed at 'AAA';

-- $50,000,000 class A-2 notes affirmed at 'AAA';

-- $20,000,000 class A-3 notes affirmed at 'AAA';

-- $23,000,000 class B-1 notes affirmed at 'AA';

-- $12,000,000 class B-2 notes affirmed at 'AA';

-- $57,500,000 class C-1 notes affirmed at 'A';

-- $46,000,000 class C-2 notes affirmed at 'A';

-- $10,000,000 class C-3 notes affirmed at 'A';

-- $27,000,000 class C-4 notes affirmed at 'A';

-- $17,000,000 class D-1 notes affirmed at 'BBB';

-- $3,000,000 class D-2 notes affirmed at 'BBB'.

ALESCO VI is a collateralized debt obligation (CDO) managed by Cohen Bros. Financial Management, LLC., which closed Dec. 21, 2004. ALESCO VI is composed of bank and thrift (67%) trust preferred securities and subordinated debt and insurance (33%) trust preferred securities, senior notes, and surplus notes.

Since close, the collateral performance has remained relatively stable, with no defaulted or deferring assets to date. As of the Oct. 31, 2005 trustee report, the class A and class B/C/D overcollateralization (OC) ratios remained unchanged at 153.3% and 105.8%, respectively, and are both currently passing their performance test triggers of 130% and 102.8%.

The ratings on the class A-1, A-2, and A-3 notes address the likelihood that investors will receive timely payment of interest and ultimate payment of principal by the stated maturity date. The ratings on the class B-1, B-2, C-1, C-2, C-3, C-4, D-1, and D-2 notes address the likelihood that investors will receive ultimate payment of interest and ultimate payment of principal by the stated maturity date.

Fitch will continue to monitor and review this transaction for future rating adjustments. Additional deal information and historical data are available on the Fitch Ratings web site at www.fitchratings.com. For more information on Fitch's approach to rating CDOs of trust preferred securities, see the special report 'Rating Criteria for U.S. Bank and Insurance Trust Preferred CDOs' dated Feb. 2, 2005 and available on Fitch's web site.

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.