Fitch Places ACA-Insured Bonds On Rating Watch Negative

Business Wire, Jan 29, 2001

Business Editors

NEW YORK--(BUSINESS WIRE)--Jan. 29, 2001

Following its placement of ACA Financial Guaranty Corp.'s (ACA) insurer financial strength rating of 'A' on Rating Watch Negative, Fitch correspondingly places the long-term rating of 184 ACA-insured bonds on Rating Watch Negative.

This action pertains solely to the bonds' long-term enhanced rating, which is based exclusively on bond insurance furnished by ACA. It is not a reflection of the issuers' underlying creditworthiness.

All ACA-insured bonds carry a Fitch long-term enhanced rating of 'A', and many also carry a Fitch long-term unenhanced rating as indicated. Only the Fitch long-term enhanced rating is affected by this action. The affected issues are listed below.

For more information, see Fitch research dated Jan. 24, 2001.