NEW YORK -- Fitch Ratings has taken rating actions on the following Centex Home Equity deals:
Series 2000-C group 1
-- Classes A-4, A-5 and A-6 affirmed at 'AAA' (MBIA insured)
Series 2000-C group 2
-- Class A-7 affirmed at 'AAA' (MBIA
Series 2000-D group 1
-- Classes A-4, A-5, and A-6 affirmed at 'AAA' (FSA insured)
Series 2000-D group 2
-- Class A-7 affirmed at 'AAA' (FSA insured)
Series 2001-A group 1
-- Classes A-4, A-5 and A-6 affirmed at 'AAA' (MBIA insured)
Series 2001-A group 2
-- Class A-7 affirmed at 'AAA' (MBIA insured)
Series 2001-B
-- Classes A-4, A-5, A-6 and A-7 affirmed at 'AAA'
-- Class M-1 affirmed at 'AA'
-- Class M-2 affirmed at 'A'
-- Class B affirmed at 'BBB'
Series 2001-C
-- Classes A-4, A-5, A-6 and A-7 affirmed at 'AAA'
-- Class M-1 affirmed at 'AA'
-- Class M-2 affirmed at 'A'
-- Class B affirmed at 'BBB'
Series 2002-A group 1
-- Classes AF-4, AF-5, and AF-6 affirmed at 'AAA'
-- Class MF-1 affirmed at 'AA'
-- Class MF-2 affirmed at 'A'
-- Class BF affirmed at 'BBB'
Series 2002-A group 2
-- Class AV affirmed at 'AAA'
-- Class MV-1 affirmed at 'AA'
-- Class MV-2 affirmed at 'A'
-- Class BV affirmed at 'BBB'
Series 2002-B group 1
-- Class AF-4, AF5-5, AF-6 affirmed at 'AAA'
-- Class MF-1 affirmed at 'AA'
-- Class MF-2 affirmed at 'A'
-- Class BF affirmed at 'BBB'
Series 2002-B group 2
-- Class AV affirmed at 'AAA'
-- Class MV-1 affirmed at 'AA'
-- Class MV-2 affirmed at 'A'
-- Class BV affirmed at 'BBB'
Series 2002-C
-- Classes AF-3, AF-4, AF-5, AF-6 and AV affirmed at 'AAA'
-- Class M-1 affirmed at 'AA'
-- Class M-2 affirmed at 'A'
-- Class B-1 affirmed at 'BBB'
-- Class B-2 affirmed at 'BBB-'
Series 2002-D
-- Classes AF-3, AF-4, AF-5, AF-6 and AV affirmed at 'AAA'
-- Class M-1 affirmed at 'AA'
-- Class M-2 affirmed at 'A'
-- Class B affirmed at 'BBB'
Series 2003-A
-- Classes AF-3, AF-4, AF-5, AF-6, AV-1 and AV-2 affirmed at 'AAA'
-- Class M-1 affirmed at 'AA'
-- Class M-2 affirmed at 'A+'
-- Class M-3 affirmed at 'A-'
-- Class B affirmed at 'BBB'
Series 2003-B
-- Class AF-2, AF-3, AF-4, AF-5, AF-6, and AV affirmed at 'AAA'
-- Class M-1 affirmed at 'AA'
-- Class M-2 affirmed at 'A+'
-- Class M-3 affirmed at 'BBB+'
-- Class B affirmed at 'BBB'
Series 2003-C
-- Class AF-1, AF-2, AF-3, AF-4, AF-5, AF-6, and AV affirmed at 'AAA'
-- Class M-1 affirmed at 'AA'
-- Class M-2 affirmed at 'A+'
-- Class M-3 affirmed at 'A-'
-- Class B affirmed at 'BBB'
The affirmations, affecting approximately $2.5 billion of outstanding certificates, reflect asset performance and credit enhancement (CE) levels generally consistent with expectations.
Of the non-insured transactions, the transactions that are 2001 vintage have at least one and a half times original CE levels and pool factors (mortgage loan principal outstanding as a percentage of initial mortgage loan principal) between 32% and 34%. The transactions that are 2002 vintage have at least two times original CE levels and pool factors between 28% and 44%. The 2003 vintage transactions have at least two times original CE levels and pool factors between of 49% and 61%.
All of the Centex transactions are secured by adjustable- and fixed-rate mortgages extended to subprime quality borrowers.
Further information regarding current delinquencies, losses, and credit enhancement is available on the Fitch Ratings web site at 'www.fitchratings.com'