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Fitch upgrades the class A certificates issued by R.E. Repack Trust 2002-1. The following rating action is effective immediately: --$80,000,000 class A certificates upgraded to 'AAA' from 'AA'. The rating is based on the credit quality of the trust's underlying security, $80,000,000 class B floating rate notes issued by LNR CDO 2002-1, Ltd. and LNR CDO 2002-1 Corporation. A detailed description on Fitch's rating analysis on LNR CDO 2002-1 can be found on Derivative Fitch's web site at www.derivativefitch.com. The rating of the class A Certificates addresses the likelihood that investors will receive full and timely payments of interest, as per the governing documents, as well as the stated balance of principal by the legal final maturity date. Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.derivativefitch.com. Published ratings, criteria and methodologies are available from this site at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site. Fitch means Fitch, Inc., Fitch Ratings, Ltd. and their subsidiaries including Derivative Fitch, Inc. and Derivative Fitch Ltd. and any successor or successors thereto.
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