Fitch Affirms Ratings On ACA-Insured Bonds

Business Wire, March 2, 2001

Business Editors & Analysts

NEW YORK--(BUSINESS WIRE)--March 2, 2001

Following the affirmation of ACA Financial Guaranty Corp.'s (ACA) insurer financial strength rating of `A' and its removal from Rating Watch Negative, Fitch correspondingly affirms the long-term ratings of 181 ACA-insured bonds and removes them from Rating Watch Negative.

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

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

For more information, see Fitch research dated Feb. 28, 2001.