12 For you go down into the water, bearing your sins, but the invocation of grace, having sealed your soul, suffers you not afterwards to be swallowed up by the terrible dragon. Having gone down dead in sins, you come up quickened in righteousness. For if you have been united with the likeness of the Saviour's death, you shall also be deemed worthy of His Resurrection. For as Jesus took upon Him the sins of the world, and died, that by putting sin to death He might rise again in righteousness; so thou by going down into the water, and being in a manner buried in the waters, as He was in the rock, art raised again walking in newness of life.
Source: Catechetical Lectures (New Advent)