CORRECTED (OFFICIAL)-Fitch release on Bear Stearns suprime deals

(Corrects BSABS Trust 2003-ABF1 to reflect rating was affirmed, not placed on rating watch negative) (The following statement was released by the rating agency)

April 28 - Fitch Ratings has taken the following rating actions on the Bear Stearns Asset Backed ecurities transactions listed below. Unless stated otherwise, any bonds that were previously placed on Rating Watch Negative are removed. Affirmations total $61.8 million and downgrades total $79.1 million. Additionally, Fitch placed $13.7 million on Rating Watch Negative. BSABS Trust 2003-ABF1 --$13.7 million class A affirmed at 'AAA'; --$28.8 million class M downgraded to 'A+' from 'AA'. Deal Summary --Originators: American Business Financial Services --60+ day Delinquency: 21.26% --Realized Losses to date (% of Original Balance): 2.38% Bear Stearns Asset Backed Securities, Inc 2004-HE6 --$14.8 million class M-1 affirmed at 'AA'; --$47 million class M-2 affirmed at 'A'; --$13.8 million class M-3 downgraded to 'BBB' from 'A-'; --$11.5 million class M-4 downgraded to 'BB+' from 'BBB+'; --$10.1 million class M-5 downgraded to 'BB' from 'BBB'; --$9 million class M-6 downgraded to 'B' from 'BBB-'; --$5.9 million class M-7B downgraded to 'C/DR5' from 'BB'. Deal Summary --Originators: People's Choice Home Loan, Inc. (42.15%), Fremont Investment & Loan (30.38%), Encore Credit Corporation (17.06%). --60+ day Delinquency: 20.49% --Realized Losses to date (% of Original Balance): 1.88% Additional details are available in the following research, available at 'www.fitchratings.com': --'Downgrade Criteria for Recent Vintage U.S. Subprime RMBS' (Aug. 8, 2007).