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Fitch Affirms 30 RMBS Classes from 4 Asset Backed Funding Corp. Issues.

NEW YORK -- Fitch Ratings affirms the following Asset Backed Funding Corporation (ABFC) issues:

ABFC asset-backed certificates, series 2003-AHL1 Groups 1 & 2

-- Classes A-I, A-II affirmed at 'AAA';

-- Class M-1 affirmed at 'AA';

-- Class M-2 affirmed at 'A+';

-- Class M-3 affirmed at 'A-';

-- Class M-4 affirmed at 'BBB+';

-- Class M-5 affirmed at 'BBB-'.

ABFC asset-backed certificates, series 2003-OPT1 Groups 1 & 2

-- Classes A-1, A-1A, A-3 affirmed at 'AAA';

-- Class M-1 affirmed at 'AA';

-- Class M-2 affirmed at 'A+';

-- Class M-3 affirmed at 'A';

-- Class M-4 affirmed at 'A-';

-- Class M-5 affirmed at 'BBB+';

-- Class M-6 affirmed at 'BBB'.

ABFC asset-backed certificates, series 2003-WF1

-- Class A-2 affirmed 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-'.

ABFC asset-backed certificates, series 2003-WMC1 Groups 1 & 2

-- Classes A-1, A-2, A-3 affirmed at 'AAA';

-- Class M-1 affirmed at 'AA';

-- Class M-2 affirmed at 'A+';

-- Class M-3 affirmed at 'A';

-- Class M-4 affirmed at 'BBB+';

-- Class M-5 affirmed at 'BBB';

-- Class M-6 affirmed at 'BBB-'.

The affirmations reflect credit enhancement levels consistent with future loss expectations and affect approximately $1.004 billion of outstanding certificates as of the Nov. 26, 2004 distribution date. The current pool factors (current mortgage loans outstanding as a percentage of the initial pool) for these deals range from 50.69% to 61.76%.

All of the mortgage loans in the aforementioned transactions consist of 30-year fixed-rate and adjustable-rate mortgages extended to subprime borrowers and are secured by first and second liens on one- to four-family residential properties.

Further information regarding delinquencies, losses and credit enhancement is available on the Fitch Ratings web site at www.fitchratings.com.
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Publication:Business Wire
Date:Dec 8, 2004
Words:279
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