New York, February 19, 2009 -- Rating actions for Lehman Mortgage Trust 2006-1 were missing three
tranches in the February 4 press release due to a drafting error.
The additional rating actions are as follows:
Cl. AP, Downgraded to B3; previously on 9/17/2008 Aaa
Placed Under Review for Possible Downgrade
Cl. AX, Downgraded to Ba2; previously on 9/17/2008 Aaa
Placed Under Review for Possible Downgrade
Cl. PAX, Downgraded to Ba2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Revised press release follows:
Moody's Investors Service has downgraded 290 tranches from 12 Lehman Mortgage
Trust deals.
The collateral backing these transactions consists primarily of first-lien,
fixed-rate, Alt-A mortgage loans. The actions
are triggered by rapidly increasing delinquencies, higher severities,
slower prepayments and mounting losses in the underlying collateral.
Additionally, the continued deterioration of the housing market
has also contributed to the increased loss expectations for Alt-A
pools. The actions listed below reflect Moody's updated expected
losses on the Alt-A sector announced in a press release on January
22, 2009, and are part of Moody's on-going review process.
Moody's final rating actions are based on current ratings, level
of credit enhancement, collateral performance and updated pool-level
loss expectations relative to current level of credit enhancement.
Moody's took into account credit enhancement provided by seniority,
cross-collateralization, excess spread, time tranching,
and other structural features within the senior note waterfalls.
For details regarding Moody's approach towards calculating updated expected
losses on Alt-A pools backed by collateral originations from 2006
and 2007, please refer to the methodology publication "Alt-A
RMBS Loss Projection Update: January 2009," available on Moodys.com.
Loss estimates are subject to variability and are sensitive to assumptions
used; as a result, realized losses could ultimately turn out
higher or lower than our current expectations. Moody's will continue
to evaluate performance data as it becomes available and will assess the
pattern of potential future defaults and adjust loss expectations accordingly
as necessary.
Complete rating actions are as follows:
Lehman Mortgage Trust 2006-1
Cl. 1-A1, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 1-A2, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 1-A3, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 1-A4, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 1-A5, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 1-A6, Downgraded to Ca; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 2-A1, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 2-A2, Downgraded to Ca; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 3-A1, Downgraded to Ba2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 3-A2, Downgraded to Ba2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 3-A3, Downgraded to Ba2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 3-A4, Downgraded to Ba2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 3-A5, Downgraded to Ba2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 3-A6, Downgraded to Caa2; previously on 9/17/2008
Aa1 Placed Under Review for Possible Downgrade
Cl. AP, Downgraded to B3; previously on 9/17/2008 Aaa
Placed Under Review for Possible Downgrade
Cl. AX, Downgraded to Ba2; previously on 9/17/2008 Aaa
Placed Under Review for Possible Downgrade
Cl. PAX, Downgraded to Ba2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. B1, Downgraded to C; previously on 9/17/2008 Aa2
Placed Under Review for Possible Downgrade
Cl. B2, Downgraded to C; previously on 9/17/2008 Baa1
Placed Under Review for Possible Downgrade
Cl. B3, Downgraded to C; previously on 9/17/2008 B1
Placed Under Review for Possible Downgrade
Cl. B4, Downgraded to C; previously on 5/5/2008 Downgraded
to Caa2
Lehman Mortgage Trust 2006-2
Cl. 1-A1, Downgraded to B3; previously on 4/7/2006
Assigned Aaa
Cl. 1-A2, Downgraded to Ca; previously on 4/7/2006
Assigned Aa1
Lehman Mortgage Trust 2006-3
Cl. 1-A1, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 1-A2, Downgraded to Caa2; previously on 9/17/2008
Aa2 Placed Under Review for Possible Downgrade
Cl. 1-A3, Downgraded to Caa2; previously on 9/17/2008
Aa2 Placed Under Review for Possible Downgrade
Cl. 1-A4, Downgraded to Caa2; previously on 9/17/2008
Aa2 Placed Under Review for Possible Downgrade
Cl. 1-A5, Downgraded to Caa2; previously on 9/17/2008
Aa2 Placed Under Review for Possible Downgrade
Cl. 1-A6, Downgraded to Caa2; previously on 9/17/2008
Aa2 Placed Under Review for Possible Downgrade
Cl. 1-A7, Downgraded to Caa2; previously on 9/17/2008
Aa2 Placed Under Review for Possible Downgrade
Cl. 1-A8, Downgraded to Caa2; previously on 9/17/2008
Aa2 Placed Under Review for Possible Downgrade
Cl. 1-A9, Downgraded to Caa2; previously on 9/17/2008
Aa2 Placed Under Review for Possible Downgrade
Cl. 1-A10, Downgraded to Caa2; previously on
9/17/2008 Aaa Placed Under Review for Possible Downgrade
Cl. 1-A11, Downgraded to Caa2; previously on
9/17/2008 Aa2 Placed Under Review for Possible Downgrade
Cl. 1-A12, Downgraded to Caa2; previously on
9/17/2008 Aaa Placed Under Review for Possible Downgrade
Cl. 1-A13, Downgraded to Ca; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 2-A1, Downgraded to Caa2; previously on 9/17/2008
A1 Placed Under Review for Possible Downgrade
Cl. 2-A2, Downgraded to Caa2; previously on 9/17/2008
A1 Placed Under Review for Possible Downgrade
Cl. 3-A1, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 3-A2, Downgraded to Ca; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 3-A3, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. AX, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. M, Downgraded to C; previously on 9/17/2008 Ba3
Placed Under Review for Possible Downgrade
Lehman Mortgage Trust 2006-4
Cl. 1-A1, Downgraded to Caa2; previously on 8/14/2006
Assigned Aaa
Cl. 1-A2, Downgraded to Caa2; previously on 8/14/2006
Assigned Aaa
Cl. 1-A3, Downgraded to Caa2; previously on 8/14/2006
Assigned Aaa
Cl. 1-A4, Downgraded to Caa2; previously on 8/14/2006
Assigned Aaa
Cl. 2-A1, Downgraded to Caa2; previously on 8/14/2006
Assigned Aaa
Cl. 2-A2, Downgraded to Caa2; previously on 8/14/2006
Assigned Aaa
Cl. AP1, Downgraded to Caa2; previously on 8/14/2006
Assigned Aaa
Cl. AX1, Downgraded to Caa2; previously on 8/14/2006
Assigned Aaa
Lehman Mortgage Trust 2006-5
Cl. 1-A1, Downgraded to Caa1; previously on 9/21/2006
Assigned Aaa
Cl. 1-A2, Downgraded to Caa1; previously on 9/21/2006
Assigned Aaa
Cl. 1-A3, Downgraded to Caa1; previously on 9/21/2006
Assigned Aaa
Cl. 1-A4, Downgraded to Ca; previously on 9/2/2008
Downgraded to Aa3
Cl. 1-A5, Downgraded to Caa2; previously on 9/2/2008
Downgraded to Aa2
Cl. 1-A6, Downgraded to Caa2; previously on 9/2/2008
Downgraded to Aa2
Cl. 1-A7, Downgraded to Caa2; previously on 9/2/2008
Downgraded to Aa2
Cl. 1-A8, Downgraded to Caa2; previously on 9/2/2008
Downgraded to Aa2
Cl. 1-A9, Downgraded to Caa2; previously on 9/2/2008
Downgraded to Aa2
Cl. 1-A10, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa2
Cl. 1-A11, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa2
Cl. 1-A12, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa2
Cl. 1-A13, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa2
Cl. 1-A14, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa2
Cl. 1-A15, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa2
Cl. 1-A16, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa2
Cl. 2-A1, Downgraded to Caa2; previously on 5/5/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 2-A2, Downgraded to Caa2; previously on 9/21/2006
Assigned Aaa
Cl. 2-A3, Downgraded to Caa1; previously on 9/21/2006
Assigned Aaa
Cl. 2-A4, Downgraded to Ca; previously on 9/2/2008
Downgraded to Aa3
Cl. 2-A5, Downgraded to Caa1; previously on 9/21/2006
Assigned Aaa
Cl. 2-A6, Downgraded to Caa1; previously on 9/21/2006
Assigned Aaa
Cl. AP, Downgraded to Caa2; previously on 9/2/2008 Downgraded
to Aa2
Cl. AX, Downgraded to Caa1; previously on 9/21/2006
Assigned Aaa
Cl. M, Downgraded to C; previously on 9/2/2008 Downgraded
to Ba2
Lehman Mortgage Trust 2006-6
Cl. 4-A1, Downgraded to Baa2; previously on 10/9/2006
Assigned Aaa
Cl. 4-A2, Downgraded to Baa2; previously on 10/9/2006
Assigned Aaa
Cl. 4-A3, Downgraded to Baa3; previously on 10/9/2006
Assigned Aaa
Cl. 4-A4, Downgraded to Baa3; previously on 10/9/2006
Assigned Aaa
Cl. 4-A5, Downgraded to Baa3; previously on 10/9/2006
Assigned Aaa
Cl. 4-A6, Downgraded to Baa2; previously on 10/9/2006
Assigned Aaa
Cl. 4-A7, Downgraded to Baa3; previously on 10/9/2006
Assigned Aaa
Cl. 4-A8, Downgraded to Baa3; previously on 10/9/2006
Assigned Aaa
Cl. 4-A9, Downgraded to Baa2; previously on 10/9/2006
Assigned Aaa
Cl. 4-A10, Downgraded to Baa3; previously on
10/9/2006 Assigned Aaa
Cl. 4-A11, Downgraded to Baa3; previously on
10/9/2006 Assigned Aaa
Cl. 4-A12, Downgraded to Baa2; previously on
10/9/2006 Assigned Aaa
Cl. 4-A13, Downgraded to Baa3; previously on
10/9/2006 Assigned Aaa
Cl. 4-A14, Downgraded to Baa3; previously on
10/9/2006 Assigned Aaa
Cl. 4-A15, Downgraded to Baa3; previously on
10/9/2006 Assigned Aaa
Cl. 4-A16, Downgraded to Baa3; previously on
10/9/2006 Assigned Aaa
Cl. 4-A17, Downgraded to Ba1; previously on 10/9/2006
Assigned Aa1
Cl. 5-A1, Downgraded to Baa3; previously on 10/9/2006
Assigned Aaa
Cl. 5-A2, Downgraded to Baa3; previously on 10/9/2006
Assigned Aaa
Cl. 5-A3, Downgraded to Baa3; previously on 10/9/2006
Assigned Aaa
Cl. 5-A4, Downgraded to Baa3; previously on 10/9/2006
Assigned Aaa
Cl. AP, Downgraded to Baa3; previously on 10/9/2006
Assigned Aaa
Cl. AX2, Downgraded to Baa2; previously on 10/9/2006
Assigned Aaa
Lehman Mortgage Trust 2006-7
Cl. 1-A1, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 1-A2, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 1-A3, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 1-A4, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 1-A5, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 1-A6, Downgraded to Ca; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 1-A7, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 1-A8, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 1-A9, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 1-A10, Downgraded to Caa2; previously on
9/17/2008 Aa3 Placed Under Review for Possible Downgrade
Cl. 2-A1, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 2-A2, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 2-A3, Downgraded to Ca; previously on 9/17/2008
A1 Placed Under Review for Possible Downgrade
Cl. 2-A4, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 2-A5, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 2-A6, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 2-A7, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 2-A8, Downgraded to Ca; previously on 9/17/2008
A1 Placed Under Review for Possible Downgrade
Cl. 2-A9, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 2-A10, Downgraded to Caa2; previously on
9/17/2008 Aaa Placed Under Review for Possible Downgrade
Cl. 2-A11, Downgraded to Ca; previously on 9/17/2008
A1 Placed Under Review for Possible Downgrade
Cl. 3-A1, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 3-A2, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 3-A3, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 3-A4, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 3-A5, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 3-A6, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 3-A7, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 4-A1, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 4-A2, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. 5-A1, Downgraded to Caa2; previously on 5/5/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 5-A2, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 5-A3, Downgraded to Ca; previously on 9/17/2008
A1 Placed Under Review for Possible Downgrade
Cl. 5-A4, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 5-A5, Downgraded to Ca; previously on 9/17/2008
A1 Placed Under Review for Possible Downgrade
Cl. 5-A6, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 5-A7, Downgraded to Caa2; previously on 9/17/2008
A1 Placed Under Review for Possible Downgrade
Cl. 5-A8, Downgraded to Caa2; previously on 5/5/2008
Aaa Placed Under Review for Possible Downgrade
Cl. AP, Downgraded to Caa2; previously on 9/17/2008
Aa3 Placed Under Review for Possible Downgrade
Cl. AX, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. M, Downgraded to C; previously on 9/17/2008 Ba3
Placed Under Review for Possible Downgrade
Lehman Mortgage Trust 2006-8
Cl. 1-A1, Downgraded to Caa2; previously on 12/12/2006
Assigned Aaa
Cl. 1-A2, Downgraded to Ca; previously on 9/2/2008
Downgraded to A3
Cl. 1-A3, Downgraded to Caa2; previously on 12/12/2006
Assigned Aaa
Cl. 2-A1, Downgraded to Caa2; previously on 5/5/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 2-A2, Downgraded to Caa1; previously on 12/12/2006
Assigned Aaa
Cl. 2-A3, Downgraded to Caa1; previously on 12/12/2006
Assigned Aaa
Cl. 2-A4, Downgraded to Ca; previously on 9/2/2008
Downgraded to A3
Cl. 3-A1, Downgraded to Caa2; previously on 9/2/2008
Downgraded to A2
Cl. 3-A2, Downgraded to Caa2; previously on 9/2/2008
Downgraded to A2
Cl. 4-A1, Downgraded to Caa2; previously on 9/2/2008
Downgraded to A2
Cl. 4-A2, Downgraded to Caa2; previously on 9/2/2008
Downgraded to A2
Cl. AP, Downgraded to Caa2; previously on 9/2/2008 Downgraded
to A2
Cl. M, Downgraded to C; previously on 9/2/2008 Downgraded
to Ba3
Lehman Mortgage Trust 2006-9
Cl. 1-A1, Downgraded to Caa2; previously on 9/2/2008
Downgraded to Aa3
Cl. 1-A2, Downgraded to Caa2; previously on 9/2/2008
Downgraded to Aa3
Cl. 1-A3, Downgraded to Caa2; previously on 9/2/2008
Downgraded to Aa3
Cl. 1-A4, Downgraded to Caa2; previously on 9/2/2008
Downgraded to Aa3
Cl. 1-A5, Downgraded to Caa2; previously on 1/8/2007
Assigned Aaa
Cl. 1-A6, Downgraded to Caa2; previously on 5/5/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 1-A7, Downgraded to Caa2; previously on 1/8/2007
Assigned Aaa
Cl. 1-A8, Downgraded to Caa2; previously on 9/2/2008
Downgraded to Aa3
Cl. 1-A9, Downgraded to Caa2; previously on 9/2/2008
Downgraded to Aa3
Cl. 1-A10, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa3
Cl. 1-A11, Downgraded to Ca; previously on 9/2/2008
Downgraded to A1
Cl. 1-A13, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa3
Cl. 1-A14, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa3
Cl. 1-A15, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa3
Cl. 1-A16, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa3
Cl. 1-A17, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa3
Cl. 1-A18, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa3
Cl. 1-A19, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa3
Cl. 1-A20, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa3
Cl. 1-A21, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa3
Cl. 1-A22, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa3
Cl. 1-A23, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa3
Cl. 1-A24, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa3
Cl. 1-A25, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa3
Cl. 1-A26, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa3
Cl. 1-A27, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa3
Cl. 1-A28, Downgraded to Caa2; previously on
9/2/2008 Downgraded to Aa3
Cl. 2-A1, Downgraded to Caa2; previously on 1/8/2007
Assigned Aaa
Cl. 2-A2, Downgraded to Caa2; previously on 1/8/2007
Assigned Aaa
Cl. 2-A3, Downgraded to Caa2; previously on 1/8/2007
Assigned Aaa
Cl. 2-A4, Downgraded to Ca; previously on 9/2/2008
Downgraded to A1
Cl. 2-A5, Downgraded to Caa3; previously on 1/8/2007
Assigned Aaa
Cl. 2-A6, Downgraded to Caa2; previously on 1/8/2007
Assigned Aaa
Cl. 2-A7, Downgraded to Ca; previously on 9/2/2008
Downgraded to A1
Cl. 2-A8, Downgraded to Caa2; previously on 1/8/2007
Assigned Aaa
Cl. 2-A9, Downgraded to Ca; previously on 9/2/2008
Downgraded to A1
Cl. 2-A10, Downgraded to Caa2; previously on
1/8/2007 Assigned Aaa
Cl. 2-A11, Downgraded to Ca; previously on 9/2/2008
Downgraded to A1
Cl. 2-A12, Downgraded to Caa2; previously on
1/8/2007 Assigned Aaa
Cl. 3-A1, Downgraded to Caa3; previously on 9/2/2008
Downgraded to Aa3
Cl. 3-A2, Downgraded to Caa3; previously on 9/2/2008
Downgraded to Aa3
Cl. AP, Downgraded to Caa2; previously on 9/2/2008 Downgraded
to Aa3
Cl. M-1A, Downgraded to C; previously on 9/2/2008
Downgraded to Ba3
Cl. M-1B, Downgraded to C; previously on 9/2/2008
Downgraded to Ba3
Lehman Mortgage Trust 2007-2
Cl. 1-A1, Downgraded to Caa3; previously on 3/12/2007
Assigned Aaa
Cl. 1-A2, Downgraded to Caa2; previously on 3/12/2007
Assigned Aaa
Cl. 2-A1, Downgraded to Caa3; previously on 3/12/2007
Assigned Aaa
Cl. 2-A2, Downgraded to Caa2; previously on 3/12/2007
Assigned Aaa
Cl. 2-A3, Downgraded to Ca; previously on 3/12/2007
Assigned Aa1
Cl. 2-A4, Downgraded to Caa3; previously on 3/12/2007
Assigned Aaa
Cl. 2-A5, Downgraded to Ca; previously on 3/12/2007
Assigned Aa1
Cl. 2-A6, Downgraded to Caa3; previously on 3/12/2007
Assigned Aaa
Cl. 2-A7, Downgraded to Caa2; previously on 3/12/2007
Assigned Aaa
Cl. 2-A8, Downgraded to Ca; previously on 3/12/2007
Assigned Aa1
Cl. 2-A9, Downgraded to Caa2; previously on 3/12/2007
Assigned Aaa
Cl. 2-A10, Downgraded to Caa2; previously on
3/12/2007 Assigned Aaa
Cl. 2-A11, Downgraded to Ca; previously on 3/12/2007
Assigned Aa1
Cl. 2-A12, Downgraded to Caa2; previously on
3/12/2007 Assigned Aaa
Cl. 2-A13, Downgraded to Caa2; previously on
3/12/2007 Assigned Aaa
Cl. M, Downgraded to C; previously on 5/5/2008 Downgraded
to Baa1
Lehman Mortgage Trust 2007-5
Cl. 1-A1, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 1-A2, Downgraded to Caa3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 1-A3, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 1-A4, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 1-A5, Downgraded to Caa3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 1-A6, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 1-A7, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 1-A8, Downgraded to Ca; previously on 9/17/2008
Aa1 Placed Under Review for Possible Downgrade
Cl. 1-A9, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 1-A10, Downgraded to Caa2; previously on
9/17/2008 Aaa Placed Under Review for Possible Downgrade
Cl. 1-A11, Downgraded to Ca; previously on 9/17/2008
Aa1 Placed Under Review for Possible Downgrade
Cl. 1-A12, Downgraded to Ca; previously on 9/17/2008
Aa1 Placed Under Review for Possible Downgrade
Cl. 1M, Downgraded to C; previously on 9/17/2008 Aa3
Placed Under Review for Possible Downgrade
Cl. 2-A1, Downgraded to Caa3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 2-A2, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 2-A3, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 2-A4, Downgraded to Ca; previously on 9/17/2008
Aa1 Placed Under Review for Possible Downgrade
Cl. 2B1, Downgraded to Ca; previously on 9/17/2008 Aa3
Placed Under Review for Possible Downgrade
Cl. 2B2, Downgraded to Ca; previously on 9/17/2008 Ba1
Placed Under Review for Possible Downgrade
Cl. 2B3, Downgraded to C; previously on 5/5/2008 Downgraded
to Caa2
Cl. 2B4, Downgraded to C; previously on 5/5/2008 Downgraded
to Ca
Cl. 2B5, Downgraded to C; previously on 5/5/2008 Downgraded
to Ca
Cl. 3-A1, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 3-A2, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 3-A3, Downgraded to Caa1; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 3-A4, Downgraded to Caa1; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 3-A5, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 3-A6, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 3-A7, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 3-A8, Downgraded to Caa3; previously on 9/17/2008
Aa1 Placed Under Review for Possible Downgrade
Cl. 3-A9, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 3-A10, Downgraded to Caa3; previously on
9/17/2008 Aa1 Placed Under Review for Possible Downgrade
Cl. 4-A1, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 4-A2, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 4-A3, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 4-A4, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 4-A5, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 4-A6, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 5-A1, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 5-A2, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 5-A3, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 6-A1, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 7-A1, Downgraded to Caa1; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 7-A2, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 7-A3, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 7-A4, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 7-A5, Downgraded to Caa3; previously on 9/17/2008
Aa1 Placed Under Review for Possible Downgrade
Cl. 8-A1, Downgraded to Caa1; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 8-A2, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 8-A3, Downgraded to Caa1; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 8-A4, Downgraded to B3; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. 8-A5, Downgraded to Caa3; previously on 9/17/2008
Aa1 Placed Under Review for Possible Downgrade
Cl. AP2, Downgraded to B3; previously on 9/17/2008 Aaa
Placed Under Review for Possible Downgrade
Cl. AX1, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Cl. AX2, Downgraded to B3; previously on 9/17/2008 Aaa
Placed Under Review for Possible Downgrade
Cl. PO1, Downgraded to Caa2; previously on 9/17/2008
Aaa Placed Under Review for Possible Downgrade
Lehman Mortgage Trust 2007-7
Cl. 4-A1, Downgraded to Caa1; previously on 8/7/2007
Assigned Aaa
Cl. 4-A2, Downgraded to Caa1; previously on 8/7/2007
Assigned Aaa
Cl. 4-A3, Downgraded to Caa1; previously on 8/7/2007
Assigned Aaa
Cl. 4-A4, Downgraded to Ca; previously on 9/2/2008
Downgraded to A3
Cl. 4-A5, Downgraded to Caa1; previously on 8/7/2007
Assigned Aaa
Cl. 4-A6, Downgraded to Caa1; previously on 8/7/2007
Assigned Aaa
Cl. 4-A7, Downgraded to Caa2; previously on 8/7/2007
Assigned Aaa
Cl. 4-A8, Downgraded to Caa2; previously on 8/7/2007
Assigned Aaa
Cl. 4-A9, Downgraded to Caa3; previously on 9/2/2008
Downgraded to A3
Cl. 4-A10, Downgraded to Caa3; previously on
8/7/2007 Assigned Aaa
Cl. 5-A1, Downgraded to Caa2; previously on 8/7/2007
Assigned Aaa
Cl. 5-A2, Downgraded to Caa2; previously on 8/7/2007
Assigned Aaa
Cl. 5-A3, Downgraded to Caa2; previously on 8/7/2007
Assigned Aaa
Cl. 5-A4, Downgraded to Caa2; previously on 8/7/2007
Assigned Aaa
Cl. 5-A5, Downgraded to Ca; previously on 9/2/2008
Downgraded to A3
Cl. 5-A6, Downgraded to Caa2; previously on 8/7/2007
Assigned Aaa
Cl. 5-A7, Downgraded to Caa2; previously on 8/7/2007
Assigned Aaa
Cl. 6-A1, Downgraded to Caa3; previously on 8/7/2007
Assigned Aaa
Cl. 6-A2, Downgraded to Caa3; previously on 8/7/2007
Assigned Aaa
Cl. 6-A3, Downgraded to Ca; previously on 9/2/2008
Downgraded to A3
Cl. 6-A4, Downgraded to Caa3; previously on 8/7/2007
Assigned Aaa
Cl. 6-A5, Downgraded to Caa3; previously on 9/2/2008
Aaa Placed Under Review for Possible Downgrade
Cl. AP2, Downgraded to Caa3; previously on 9/2/2008
Downgraded to A2
Cl. AX2, Downgraded to Caa1; previously on 8/7/2007
Assigned Aaa
The ratings on the notes were assigned by evaluating factors determined
to be applicable to the credit profile of the notes, such as i)
the nature, sufficiency, and quality of historical performance
information regarding the asset class as well as for the transaction sponsor,
ii) an analysis of the collateral, iii) an analysis of the policies,
procedures and alignment of interests of the key parties to the transaction,
most notably the originator and the servicer, iv) an analysis of
the transaction's allocation of collateral cashflow and capital structure,
v) an analysis of the transaction's governance and legal structure,
and (vi) a comparison of these attributes against those of other similar
transactions.
Other methodologies and factors that may have been considered in the process
of rating this issue can also be found at www.moodys.com
in the Credit Policy & Methodologies directory.
A list of these actions including CUSIP identifiers may be found at:
Excel: http://www.moodys.com/cust/getdocumentByNotesDocId.asp?criteria=PBS_SF155105
For more information please see www.moodys.com.
A list of updated estimated pool losses is being updated twice weekly
and may be found at:
Excel: http://www.moodys.com/cust/getdocumentByNotesDocId.asp?criteria=PBS_SF154891
For more information please see www.moodys.com.
New York
John Park
Managing Director
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
New York
Ola Hannoun-Costa
Associate Analyst
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
Corrections to Text, February 4, 2009 Release: Moody's Takes Action on Certain Lehman Mortgage Trust deals