Small Business Resources, Business Advice and Forms from AllBusiness.com

Fitch Upgrades 9 & Affirms 44 RMBS Classes from 12 ABN AMRO Securitizations.

NEW YORK -- Fitch Ratings upgrades nine and affirms 44 classes of ABN AMRO Mortgage Corp., (AMAC) residential mortgage-backed certificates, as follows:

ABN AMRO Mortgage Corp., mortgage pass-through certificates, series 2002-2

-- Class A affirmed at 'AAA'.

ABN AMRO

Mortgage Corp., mortgage pass-through certificates, series 2003-1

-- Class A affirmed at 'AAA';

-- Class M upgraded to 'AA+' from 'AA';

-- Class B-1 upgraded to 'A+' from 'A-';

-- Class B-4 affirmed at 'B'.

ABN AMRO Mortgage Corp., mortgage pass-through certificates, series 2003-2

-- Class A affirmed at 'AAA'.

ABN AMRO Mortgage Corp., mortgage pass-through certificates, series 2003-3

-- Classes A affirmed at 'AAA';

-- Class M upgraded to 'AAA' from 'AA';

-- Class B-1 upgraded to 'A+' from 'A';

-- Class B-2 upgraded to 'BBB+' from 'BBB';

-- Class B-3 upgraded to 'BB+' from 'BB';

-- Class B-4 affirmed at 'B'.

ABN AMRO Mortgage Corp., mortgage pass-through certificates, series 2003-4

-- Class A affirmed at 'AAA';

-- Class M upgraded to 'AA+' from 'AA';

-- Class B-1 upgraded to 'A' from 'A-';

-- Class B-2 upgraded to 'BBB+' from 'BBB';

-- Class B-3 affirmed at 'BB';

-- Class B-4 affirmed at 'B'.

ABN AMRO Mortgage Corp., mortgage pass-through certificates, series 2003-5

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AA';

-- Class B-1 affirmed at 'A';

-- Class B-2 affirmed at 'BBB-';

-- Class B-3 affirmed at 'BB';

-- Class B-4 affirmed at 'B'.

ABN AMRO Mortgage Corp., mortgage pass-through certificates, series 2003-6

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AA';

-- Class B-1 affirmed at 'A';

-- Class B-2 affirmed at 'BBB-';

-- Class B-3 affirmed at 'BB';

-- Class B-4 affirmed at 'B'.

ABN AMRO Mortgage Corp., mortgage pass-through certificates, series 2003-8

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AA';

-- Class B-1 affirmed at 'A-';

-- Class B-2 affirmed at 'BBB-';

-- Class B-3 affirmed at 'BB';

-- Class B-4 affirmed at 'B'.

ABN AMRO Mortgage Corp., mortgage pass-through certificates, series 2003-9

-- Class A affirmed at 'AAA'.

ABN AMRO Mortgage Corp., mortgage pass-through certificates, series 2003-10

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AA';

-- Class B-1 affirmed at 'A';

-- Class B-2 affirmed at 'BBB';

-- Class B-3 affirmed at 'BB';

-- Class B-4 affirmed at 'B'.

ABN AMRO Mortgage Corp., mortgage pass-through certificates, series 2003-11

-- Class A affirmed at 'AAA';

-- Class B-1 affirmed at 'A-';

-- Class B-3 affirmed at 'BB';

-- Class B-4 affirmed at 'B'.

ABN AMRO Mortgage Corp., mortgage pass-through certificates, series 2003-13

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AA';

-- Class B-1 affirmed at 'A';

-- Class B-2 affirmed at 'BBB';

-- Class B-3 affirmed at 'BB';

-- Class B-4 affirmed at 'B'.

The upgrades, affecting $27,315,336 of outstanding certificates, are being taken as a result of low delinquencies and losses, as well as significantly increased credit support levels. The affirmations, affecting over $2.8 billion of certificates, are due to stable collateral performance and small to moderate growth in credit enhancement (CE). With the exception of one (series 2002-2), all of the ABN AMRO transactions included in this rating action are of the 2003 vintage.

As of the last distribution date (Oct. 25, 2004), the most seasoned of these deals (series 2002-2) has a pool factor (mortgage principal outstanding as a percentage of original mortgage principal as of closing) of 11% and currently benefits from CE levels nearly eight times the original. The least seasoned transaction maintains a pool factor of 90% and has only experienced a slight increase in CE coverage. All transactions have experienced some increase in CE and most are at or around 1.5 times (x) original.

Further information regarding current delinquency, loss, and credit enhancement statistics is available on the Fitch Ratings web site at www.fitchratings.com.

In addition, make sure to read these articles: