Correction - Fitch Takes Rating Actions on 3 Atherton Franchise Loan ABS Trusts

(This is a correction of a release issued March 20, 2009. It revises the ratings of the 1998-A and 1999-A trusts.)

Fitch Ratings has taken the following rating actions on the Atherton Franchise Loan Funding Trusts listed below:

Atherton Franchise Loan Funding 1997-A

--Class B revised to 'CCC/RR1' from 'CCC/DR1';

--Class C revised to 'C/RR1' at 'C/DR6'.

Atherton Franchise Loan Funding 1998-A

--Class A-X affirmed at 'AAA';

--Class C affirmed at 'BB;

--Class D affirmed at 'B' and DR1 removed;

--Class E revised to 'CCC/RR1' from 'CCC/DR3';

--Class F revised to 'C/RR1' from 'C/DR6'.

Atherton Franchise Loan Funding 1999-A

--Class A-X affirmed at 'A';

--Class B affirmed at 'BBB';

--Class C revised to 'CCC/RR1' from 'CCC/DR1';

--Class D revised to 'C/RR2' at 'C/DR3';

--Class E revised to 'D/RR6' from 'C/DR6';

--Class F revised to 'D/RR6' from 'C/DR6'.

Fitch's analysis incorporated anticipated losses on defaulted collateral given the servicer's and Fitch's recovery expectations. Fitch's recovery expectations are based on historical collateral-specific recoveries experienced in the franchise loan asset-backed securities (ABS) sector. The resulting anticipated collateral losses were then applied to the transaction structure, enabling Fitch to assess the impact of the losses on the securities and available credit enhancement.

As a result of the aforementioned analysis, credit support was found to be consistent with when the transaction was last reviewed while recovery prospects for the distressed notes have changed, leading to an affirmation of all long-term ratings and the revisions to the Recovery Ratings.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.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.