Moody's Downgrades Certain Bear Stearns Subprime RMBS
New York, October 16, 2008 -- Moody's Investors Service has downgraded the ratings of 387 tranches from
37 subprime RMBS transactions issued by Bear Stearns. Additionally,
28 other tranches were placed on review for possible downgrade.
The collateral backing these transactions consists primarily of first-lien,
fixed and adjustable-rate, subprime residential mortgage
loans.
These actions follow and are as a result of Moody's September 18th 2008
announcement that it had updated its loss projections on first-lien
subprime RMBS. (See Moodys.com for the report: Subprime
RMBS Loss Projection Update: September 2008 for details)
Complete rating actions are as follows:
Issuer: Bear Stearns Asset Backed Securities I Trust 2005-AQ1
Cl. M-6, Downgraded to Ba2 from Baa3
Cl. M-7, Downgraded to B3 from Ba3
Cl. M-8, Downgraded to C from B3
Issuer: Bear Stearns Asset Backed Securities I Trust 2005-AQ2
Cl. M-2, Downgraded to A3 from A2
Cl. M-3, Downgraded to Baa3 from Baa2
Cl. M-4, Downgraded to Caa2 from B2
Cl. M-5, Downgraded to C from B3
Cl. M-6, Downgraded to C from Caa1
Cl. M-7, Downgraded to C from Caa2
Cl. M-8, Downgraded to C from Caa3
Cl. M-9, Downgraded to C from Ca
Cl. M-10, Downgraded to C from Ca
Issuer: Bear Stearns Asset Backed Securities I Trust 2005-EC1
Cl. M-5, Downgraded to Baa2 from A3
Cl. M-6, Downgraded to Ba2 from Baa1
Cl. M-7, Downgraded to Caa2 from Ba1
Cl. M-8, Downgraded to C from B2
Issuer: Bear Stearns Asset Backed Securities I Trust 2005-FR1
Cl. M-3, Downgraded to Baa2 from A3
Cl. M-4, Downgraded to B1 from Baa1
Cl. M-5, Downgraded to Ca from Ba2
Cl. M-6, Downgraded to C from Caa1
Cl. M-7, Downgraded to C from Caa2
Cl. M-8, Downgraded to C from Caa3
Issuer: Bear Stearns Asset Backed Securities I Trust 2005-HE1
Cl. M-6, Downgraded to B1 from Ba3
Cl. M-7, Downgraded to Ca from B3
Issuer: Bear Stearns Asset Backed Securities I Trust 2005-HE2
Cl. M-1, Downgraded to A1 from Aa2
Cl. M-2, Downgraded to Ba1 from Baa1
Cl. M-3, Downgraded to Ba3 from Baa2
Cl. M-4, Downgraded to B2 from Ba1
Cl. M-5, Downgraded to B3 from Ba3
Cl. M-6, Downgraded to Ca from B1
Cl. M-7, Downgraded to Ca from B3
Cl. M-8, Downgraded to Ca from Caa1
Issuer: Bear Stearns Asset Backed Securities I Trust 2005-HE4
Cl. M-5, Downgraded to Caa1 from B1
Cl. M-6, Downgraded to Ca from B3
Cl. M-7, Downgraded to C from Caa1
Cl. M-8, Downgraded to C from Caa2
Issuer: Bear Stearns Asset Backed Securities I Trust 2005-HE5
Cl. M-1, Downgraded to A1 from Aa2
Cl. M-3, Downgraded to Baa2 from A3
Cl. M-4, Downgraded to Ba2 from Baa2
Cl. M-5, Downgraded to Caa1 from Ba1
Issuer: Bear Stearns Asset Backed Securities I Trust 2005-HE6
Cl. M-3, Downgraded to Baa1 from A3
Cl. M-4, Downgraded to Ba2 from Baa3
Cl. M-5, Downgraded to Caa2 from Ba2
Cl. M-6, Downgraded to C from B3
Cl. M-7, Downgraded to C from Caa1
Cl. M-8A, Downgraded to C from B2
Cl. M-8B, Downgraded to C from Caa2
Issuer: Bear Stearns Asset Backed Securities I Trust 2005-HE11
Cl. M-4, Downgraded to Baa1 from A2
Cl. M-5, Downgraded to Ba1 from A3
Cl. M-6, Downgraded to Caa2 from Baa2
Cl. M-7, Downgraded to C from Ba3
Cl. M-8, Downgraded to C from B2
Cl. M-9, Downgraded to C from Caa1
Cl. M-10, Downgraded to C from Caa2
Issuer: Bear Stearns Asset Backed Securities I Trust 2005-HE12
Cl. M-4, Downgraded to Baa1 from A2
Cl. M-5, Downgraded to Ba2 from Baa1
Cl. M-6, Downgraded to Caa2 from Ba2
Cl. M-7, Downgraded to C from B3
Cl. M-8, Downgraded to C from Caa1
Issuer: Bear Stearns Asset Backed Securities I Trust 2005-TC1
Cl. M-8, Downgraded to B1 from Ba2
Issuer: Bear Stearns Asset Backed Securities I Trust 2006-AQ1
Cl. I-1A-1, Placed on Review for Possible Downgrade,
currently Aa2
Cl. I-1A-2, Placed on Review for Possible Downgrade,
currently A1
Cl. I-1A-3, Placed on Review for Possible Downgrade,
currently A2
Cl. I-2A, Placed on Review for Possible Downgrade,
currently Aa3
Cl. II-A-2, Downgraded to Caa3 from A3
Cl. II-A-3, Downgraded to Ca from Baa2
Cl. I-M-1, Downgraded to Ca from Ba3
Cl. I-M-2, Downgraded to C from B1
Cl. I-M-3, Downgraded to C from B2
Cl. I-M-4, Downgraded to C from B3
Cl. I-M-5, Downgraded to C from Caa1
Cl. I-M-6, Downgraded to C from Caa2
Cl. I-M-7, Downgraded to C from Caa3
Cl. I-M-8, Downgraded to C from Ca
Cl. II-M-1, Downgraded to C from B1
Cl. II-M-2, Downgraded to C from B2
Cl. II-M-3, Downgraded to C from B2
Cl. II-M-4, Downgraded to C from B3
Cl. II-M-5, Downgraded to C from Caa1
Cl. II-M-6, Downgraded to C from Caa2
Cl. II-M-7, Downgraded to C from Caa3
Cl. II-M-8, Downgraded to C from Ca
Cl. II-M-9, Downgraded to C from Ca
Issuer: Bear Stearns Asset Backed Securities I Trust 2006-EC1
Cl. M-3, Downgraded to A2 from Aa3
Cl. M-4, Downgraded to Ba2 from A2
Cl. M-5, Downgraded to Caa2 from A3
Cl. M-6, Downgraded to C from Ba3
Cl. M-7, Downgraded to C from B3
Cl. M-8, Downgraded to C from Caa1
Cl. M-9, Downgraded to C from Caa2
Issuer: Bear Stearns Asset Backed Securities I Trust 2006-EC2
Cl. M-2, Downgraded to A2 from Aa2
Cl. M-3, Downgraded to Baa2 from Aa3
Cl. M-4, Downgraded to Ba3 from A1
Cl. M-5, Downgraded to Caa2 from A2
Cl. M-6, Downgraded to C from A3
Cl. M-7, Downgraded to C from B1
Cl. M-8, Downgraded to C from B3
Cl. M-9, Downgraded to C from Caa1
Cl. M-10, Downgraded to C from Ca
Issuer: Bear Stearns Asset Backed Securities I Trust 2006-HE1
Cl. I-M-3, Downgraded to A1 from Aa3
Cl. I-M-4, Downgraded to Ba1 from A2
Cl. I-M-5, Downgraded to B3 from A3
Cl. I-M-6, Downgraded to Ca from Baa3
Cl. I-M-7, Downgraded to C from B2
Cl. I-M-8, Downgraded to C from B3
Cl. II-M-5, Downgraded to Baa2 from A3
Cl. II-M-6, Downgraded to B1 from Baa1
Cl. II-M-7, Downgraded to Ca from Ba3
Cl. II-M-8, Downgraded to C from B3
Issuer: Bear Stearns Asset Backed Securities I Trust 2006-HE2
Cl. M-2, Downgraded to A1 from Aa2
Cl. M-3, Downgraded to Baa1 from Aa3
Cl. M-4, Downgraded to Baa3 from A1
Cl. M-5, Downgraded to B2 from A2
Cl. M-6, Downgraded to Ca from A3
Cl. M-7, Downgraded to C from Baa3
Cl. M-8, Downgraded to C from B2
Cl. M-9, Downgraded to C from B3
Cl. M-10, Downgraded to C from Caa2
Issuer: Bear Stearns Asset Backed Securities I Trust 2006-HE3
Cl. M-2, Downgraded to A2 from Aa2
Cl. M-3, Downgraded to Baa2 from Aa3
Cl. M-4, Downgraded to Ba2 from A1
Cl. M-5, Downgraded to Caa2 from Baa1
Cl. M-6, Downgraded to C from B1
Cl. M-7, Downgraded to C from B3
Cl. M-8, Downgraded to C from Caa1
Cl. M-9, Downgraded to C from Caa2
Cl. M-10, Downgraded to C from Ca
Issuer: Bear Stearns Asset Backed Securities I Trust 2006-HE4
Cl. I-A-2, Downgraded to Baa2 from Aaa
Cl. I-A-3, Downgraded to Baa3 from Aaa
Cl. II-A, Downgraded to Baa2 from Aaa
Cl. M-1, Downgraded to B3 from Aa1
Cl. M-2, Downgraded to Ca from Baa2
Cl. M-3, Downgraded to C from B1
Cl. M-4, Downgraded to C from B2
Cl. M-5, Downgraded to C from B3
Cl. M-6, Downgraded to C from Caa1
Cl. M-7, Downgraded to C from Caa3
Cl. M-8, Downgraded to C from Caa3
Issuer: Bear Stearns Asset Backed Securities I Trust 2006-HE5
Cl. I-A-2, Downgraded to Aa2 from Aaa
Cl. I-A-3, Downgraded to A1 from Aaa
Cl. II-A, Downgraded to Aa3 from Aaa
Cl. M-1, Downgraded to Baa2 from Aa1
Cl. M-2, Downgraded to Ba3 from Aa2
Cl. M-3, Downgraded to Caa2 from Aa3
Cl. M-4, Downgraded to C from Baa1
Cl. M-5, Downgraded to C from Ba3
Cl. M-6, Downgraded to C from B2
Cl. M-7, Downgraded to C from B3
Cl. M-8, Downgraded to C from Caa1
Cl. M-9, Downgraded to C from Caa2
Cl. M-10, Downgraded to C from Ca
Issuer: Bear Stearns Asset Backed Securities I Trust 2006-HE6
Cl. I-A-2, Downgraded to Aa3 from Aaa
Cl. I-A-3, Downgraded to A2 from Aaa
Cl. II-A-2, Downgraded to A3 from Aaa
Cl. II-A-3, Downgraded to Baa1 from Aaa
Cl. I-M-1, Downgraded to Ba1 from Aa1
Cl. I-M-2, Downgraded to Caa2 from Aa2
Cl. I-M-3, Downgraded to C from A2
Cl. I-M-4, Downgraded to C from Ba1
Cl. I-M-5, Downgraded to C from B2
Cl. I-M-6, Downgraded to C from B3
Cl. I-M-7, Downgraded to C from Caa1
Cl. I-M-8, Downgraded to C from Caa2
Cl. I-M-9, Downgraded to C from Caa3
Cl. I-M-10, Downgraded to C from Ca
Cl. II-M-1, Downgraded to B2 from Aa1
Cl. II-M-2, Downgraded to Ca from A3
Cl. II-M-3, Downgraded to C from Ba1
Cl. II-M-4, Downgraded to C from B1
Cl. II-M-5, Downgraded to C from B2
Cl. II-M-6, Downgraded to C from B3
Cl. II-M-7, Downgraded to C from Caa1
Cl. II-M-8, Downgraded to C from Caa2
Cl. II-M-9, Downgraded to C from Caa3
Issuer: Bear Stearns Asset Backed Securities I Trust 2006-HE7
Cl. I-A-2, Downgraded to Ba2 from Aaa
Cl. I-A-3, Downgraded to Ba3 from Aaa
Cl. II-1A-1, Placed on Review for Possible
Downgrade, currently Aaa
Cl. II-1A-2, Placed on Review for Possible
Downgrade, currently Aaa
Cl. II-1A-3, Placed on Review for Possible
Downgrade, currently Aaa
Cl. II-2A, Placed on Review for Possible Downgrade,
currently Aaa
Cl. I-M-1, Downgraded to Caa2 from A2
Cl. I-M-2, Downgraded to C from B1
Cl. I-M-3, Downgraded to C from B1
Cl. I-M-4, Downgraded to C from B2
Cl. I-M-5, Downgraded to C from B3
Cl. I-M-6, Downgraded to C from Caa1
Cl. I-M-7, Downgraded to C from Caa2
Cl. I-M-8, Downgraded to C from Ca
Cl. I-M-9, Downgraded to C from Ca
Cl. II-M-1, Downgraded to Caa2 from A3
Cl. II-M-2, Downgraded to C from Ba3
Cl. II-M-3, Downgraded to C from B1
Cl. II-M-4, Downgraded to C from B2
Cl. II-M-5, Downgraded to C from B3
Cl. II-M-6, Downgraded to C from B3
Cl. II-M-7, Downgraded to C from Caa1
Cl. II-M-8, Downgraded to C from Caa2
Cl. II-M-9, Downgraded to C from Ca
Cl. II-M-10, Downgraded to C from Ca
Issuer: Bear Stearns Asset Backed Securities I Trust 2006-HE8
Cl. I-A-2, Downgraded to Ba1 from Aaa
Cl. I-A-3, Downgraded to Ba2 from Aaa
Cl. II-1A-1, Placed on Review for Possible
Downgrade, currently Aaa
Cl. II-1A-2, Placed on Review for Possible
Downgrade, currently Aaa
Cl. II-1A-3, Placed on Review for Possible
Downgrade, currently Aaa
Cl. II-2A, Placed on Review for Possible Downgrade,
currently Aaa
Cl. I-M-1, Downgraded to Caa2 from Aa1
Cl. I-M-2, Downgraded to C from Baa2
Cl. I-M-3, Downgraded to C from Ba3
Cl. I-M-4, Downgraded to C from B1
Cl. I-M-5, Downgraded to C from B2
Cl. I-M-6, Downgraded to C from B3
Cl. I-M-7, Downgraded to C from B3
Cl. I-M-8, Downgraded to C from Caa1
Cl. I-M-9, Downgraded to C from Caa2
Cl. I-M-10, Downgraded to C from Ca
Cl. II-M-1, Downgraded to Baa2 from Aa1
Cl. II-M-2, Downgraded to B2 from Baa2
Cl. II-M-3, Downgraded to Caa2 from Ba2
Cl. II-M-4, Downgraded to C from Ba3
Cl. II-M-5, Downgraded to C from B1
Cl. II-M-6, Downgraded to C from B2
Cl. II-M-7, Downgraded to C from B3
Cl. II-M-8, Downgraded to C from Caa1
Cl. II-M-9, Downgraded to C from Caa2
Cl. II-M-10, Downgraded to C from Caa3
Cl. II-M-11, Downgraded to C from Ca
Issuer: Bear Stearns Asset Backed Securities I Trust 2006-HE9
Cl. I-A-2, Downgraded to Baa3 from Aaa
Cl. I-A-3, Downgraded to Ba1 from Aaa
Cl. II-A, Downgraded to Baa3 from Aaa
Cl. III-A, Downgraded to Baa3 from Aaa
Cl. M-1, Downgraded to B3 from Aa2
Cl. M-2, Downgraded to Ca from Ba2
Cl. M-3, Downgraded to C from B1
Cl. M-4, Downgraded to C from B2
Cl. M-5, Downgraded to C from B2
Cl. M-6, Downgraded to C from B3
Cl. M-7, Downgraded to C from B3
Cl. M-8, Downgraded to C from Caa1
Cl. M-9, Downgraded to C from Caa3
Cl. M-10, Downgraded to C from Ca
Issuer: Bear Stearns Asset Backed Securities I Trust 2006-HE10
Cl. I-A-2, Downgraded to A3 from Aaa
Cl. I-A-3, Downgraded to Baa1 from Aaa
Cl. II-1A-1, Placed on Review for Possible
Downgrade, currently Aa3
Cl. II-1A-2, Placed on Review for Possible
Downgrade, currently A2
Cl. II-1A-3, Placed on Review for Possible
Downgrade, currently A3
Cl. II-2A, Placed on Review for Possible Downgrade,
currently Aa3
Cl. II-3A, Placed on Review for Possible Downgrade,
currently Aa1
Cl. I-M-1, Downgraded to Ba1 from Aaa
Cl. I-M-2, Downgraded to Caa2 from Baa2
Cl. I-M-3, Downgraded to Ca from Ba2
Cl. I-M-4, Downgraded to C from B1
Cl. I-M-5, Downgraded to C from B1
Cl. I-M-6, Downgraded to C from B2
Cl. I-M-7, Downgraded to C from B3
Cl. I-M-8, Downgraded to C from Caa1
Cl. I-M-9, Downgraded to C from Caa2
Cl. II-M-1, Downgraded to Caa2 from Ba3
Cl. II-M-2, Downgraded to C from B1
Cl. II-M-3, Downgraded to C from B1
Cl. II-M-4, Downgraded to C from B2
Cl. II-M-5, Downgraded to C from B3
Cl. II-M-6, Downgraded to C from Caa1
Cl. II-M-7, Downgraded to C from Caa2
Cl. II-M-8, Downgraded to C from Caa3
Cl. II-M-9, Downgraded to C from Ca
Issuer: Bear Stearns Asset Backed Securities I Trust 2006-PC1
Cl. M-4, Downgraded to Baa1 from A2
Cl. M-5, Downgraded to Ba2 from A3
Cl. M-6, Downgraded to Caa2 from Ba1
Cl. M-7, Downgraded to C from B2
Cl. M-8, Downgraded to C from B3
Cl. M-9, Downgraded to C from Caa2
Issuer: Bear Stearns Asset Backed Securities I Trust 2007-AQ1
Cl. A-1, Downgraded to Ba1 from A1
Cl. A-2, Downgraded to Caa3 from A3
Cl. A-3, Downgraded to Ca from Baa1
Cl. M-1, Downgraded to C from B1
Cl. M-2, Downgraded to C from B2
Cl. M-3, Downgraded to C from B3
Cl. M-4, Downgraded to C from Caa1
Cl. M-5, Downgraded to C from Caa2
Cl. M-6, Downgraded to C from Caa3
Cl. M-7, Downgraded to C from Ca
Issuer: Bear Stearns Asset Backed Securities I Trust 2007-AQ2
Cl. A-2, Downgraded to B3 from Baa1
Cl. A-3, Downgraded to Caa2 from Baa3
Cl. A-4, Downgraded to Caa3 from Ba1
Cl. M-1, Downgraded to C from B1
Cl. M-2, Downgraded to C from B2
Cl. M-3, Downgraded to C from B3
Cl. M-4, Downgraded to C from Caa1
Cl. M-5, Downgraded to C from Caa2
Cl. M-6, Downgraded to C from Caa3
Cl. M-7, Downgraded to C from Ca
Issuer: Bear Stearns Asset Backed Securities I Trust 2007-FS1
Cl. I-A-2, Downgraded to Ba3 from Aa3
Cl. I-A-3, Downgraded to Caa1 from A1
Cl. I-A-4, Downgraded to Caa2 from A2
Cl. II-A, Downgraded to Caa1 from Aa3
Cl. M-1, Downgraded to C from Ba1
Cl. M-2, Downgraded to C from B1
Cl. M-3, Downgraded to C from B2
Cl. M-4, Downgraded to C from B2
Cl. M-5, Downgraded to C from B3
Cl. M-6, Downgraded to C from Caa1
Cl. M-7, Downgraded to C from Caa2
Issuer: Bear Stearns Asset Backed Securities I Trust 2007-HE1
Cl. I-A-2, Downgraded to B3 from Ba1
Cl. I-A-3, Downgraded to Caa1 from Ba3
Cl. II-1A-1, Placed on Review for Possible
Downgrade, currently Aaa
Cl. II-1A-2, Placed on Review for Possible
Downgrade, currently Aaa
Cl. II-1A-3, Placed on Review for Possible
Downgrade, currently Aaa
Cl. II-2A, Placed on Review for Possible Downgrade,
currently Aaa
Cl. II-3A, Placed on Review for Possible Downgrade,
currently Aaa
Cl. I-M-1, Downgraded to C from B1
Cl. I-M-2, Downgraded to C from B2
Cl. I-M-3, Downgraded to C from B3
Cl. I-M-4, Downgraded to C from Caa1
Cl. I-M-5, Downgraded to C from Caa2
Cl. I-M-6, Downgraded to C from Caa3
Cl. I-M-7, Downgraded to C from Ca
Cl. II-M-1, Downgraded to Ba1 from A1
Cl. II-M-2, Downgraded to B3 from Ba2
Cl. II-M-3, Downgraded to Caa2 from B1
Cl. II-M-4, Downgraded to C from B2
Cl. II-M-5, Downgraded to C from B3
Cl. II-M-6, Downgraded to C from Caa1
Cl. II-M-7, Downgraded to C from Caa2
Cl. II-M-8, Downgraded to C from Caa3
Cl. II-M-9, Downgraded to C from Ca
Issuer: Bear Stearns Asset Backed Securities I Trust 2007-HE2
Cl. I-A-2, Downgraded to Ba3 from Aa2
Cl. I-A-3, Downgraded to B2 from Aa3
Cl. I-A-4, Downgraded to B3 from A1
Cl. II-1A-1, Placed on Review for Possible
Downgrade, currently Aaa
Cl. II-1A-2, Placed on Review for Possible
Downgrade, currently Aaa
Cl. II-1A-3, Placed on Review for Possible
Downgrade, currently Aaa
Cl. II-1A-4, Placed on Review for Possible
Downgrade, currently Aaa
Cl. II-2A, Placed on Review for Possible Downgrade,
currently Aaa
Cl. II-3A, Placed on Review for Possible Downgrade,
currently Aaa
Cl. I-M-1, Downgraded to C from Baa3
Cl. I-M-2, Downgraded to C from Ba3
Cl. I-M-3, Downgraded to C from B1
Cl. I-M-4, Downgraded to C from B2
Cl. I-M-5, Downgraded to C from B3
Cl. I-M-6, Downgraded to C from Caa1
Cl. I-M-7, Downgraded to C from Caa2
Cl. I-M-8, Downgraded to C from Caa3
Cl. II-M-1, Downgraded to B3 from Aa1
Cl. II-M-2, Downgraded to Ca from Baa1
Cl. II-M-3, Downgraded to C from Ba1
Cl. II-M-4, Downgraded to C from B1
Cl. II-M-5, Downgraded to C from B2
Cl. II-M-6, Downgraded to C from B3
Cl. II-M-7, Downgraded to C from Caa1
Cl. II-M-8, Downgraded to C from Caa2
Cl. II-M-9, Downgraded to C from Caa3
Issuer: Bear Stearns Asset Backed Securities I Trust 2007-HE3
Cl. I-A-2, Downgraded to Ba1 from Aaa
Cl. I-A-3, Downgraded to Ba2 from Aaa
Cl. I-A-4, Downgraded to Ba3 from Aa1
Cl. II-A, Downgraded to Ba2 from Aa1
Cl. III-A, Downgraded to Ba2 from Aa1
Cl. M-1, Downgraded to Caa2 from A3
Cl. M-2, Downgraded to C from Ba3
Cl. M-3, Downgraded to C from B1
Cl. M-4, Downgraded to C from B2
Cl. M-5, Downgraded to C from B3
Cl. M-6, Downgraded to C from B3
Cl. M-7, Downgraded to C from Caa1
Cl. M-8, Downgraded to C from Caa2
Cl. M-9, Downgraded to C from Caa3
Issuer: Bear Stearns Asset Backed Securities I Trust 2007-HE4
Cl. I-A-2, Downgraded to Ba2 from Aaa
Cl. I-A-3, Downgraded to Ba3 from Aaa
Cl. I-A-4, Downgraded to B1 from Aaa
Cl. II-A, Downgraded to Ba3 from Aaa
Cl. M-1, Downgraded to Caa2 from Aa2
Cl. M-2, Downgraded to C from Baa3
Cl. M-3, Downgraded to C from Ba3
Cl. M-4, Downgraded to C from B1
Cl. M-5, Downgraded to C from B2
Cl. M-6, Downgraded to C from B3
Cl. M-7, Downgraded to C from Caa1
Cl. M-8, Downgraded to C from Caa2
Cl. M-9, Downgraded to C from Caa3
Issuer: Bear Stearns Asset Backed Securities I Trust 2007-HE5
Cl. I-A-2, Downgraded to Aa1 from Aaa
Cl. I-A-3, Downgraded to Aa3 from Aaa
Cl. I-A-4, Downgraded to A2 from Aaa
Cl. II-A, Downgraded to A1 from Aaa
Cl. III-A, Downgraded to A1 from Aaa
Cl. M-1, Downgraded to Ba1 from Aa1
Cl. M-2, Downgraded to B2 from A2
Cl. M-3, Downgraded to Caa2 from Baa1
Cl. M-4, Downgraded to Caa3 from Baa2
Cl. M-5, Downgraded to C from Ba1
Cl. M-6, Downgraded to C from Ba2
Cl. M-7, Downgraded to C from B1
Cl. M-8, Downgraded to C from B2
Cl. M-9, Downgraded to C from B3
Issuer: Bear Stearns Asset Backed Securities I Trust 2007-HE6
Cl. I-A-1, Downgraded to Baa1 from Aaa
Cl. I-A-2, Downgraded to Ba2 from Aaa
Cl. II-A, Downgraded to Ba1 from Aaa
Cl. M-1, Downgraded to B3 from Ba3
Cl. M-2, Downgraded to Caa2 from B1
Cl. M-3, Downgraded to Ca from B2
Cl. M-4, Downgraded to C from B3
Cl. M-5, Downgraded to C from Ca
Issuer: Bear Stearns Asset Backed Securities I Trust 2007-HE7
Cl. I-A-1, Downgraded to A1 from Aaa
Cl. I-A-2, Downgraded to Baa3 from Aaa
Cl. II-A-1, Downgraded to Baa1 from Aaa
Cl. II-A-2, Downgraded to Baa2 from Aa1
Cl. III-A-1, Downgraded to Baa1 from Aaa
Cl. III-A-2, Downgraded to Ba1 from Aa1
Cl. M-1, Downgraded to Ba3 from Baa3
Cl. M-2, Downgraded to B2 from B1
Cl. M-3, Downgraded to Caa3 from B1
Cl. M-4, Downgraded to C from B2
Cl. M-5, Downgraded to C from B3
Issuer: Bear Stearns Structured Products Trust 2007-EMX1
Cl. M-1, Downgraded to A1 from Aa1
Cl. M-2, Downgraded to A3 from A1
Cl. M-4, Downgraded to Ba1 from Baa3
Cl. M-6, Downgraded to B2 from B1
A list of these actions including CUSIP identifiers may be found at:
Excel: http://www.moodys.com/cust/getdocumentByNotesDocId.asp?criteria=PBS_SF145530
For more information please see www.moodys.com.
New York
Navneet Agarwal
VP - Senior Credit Officer
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
New York
Mark Branton
Associate Analyst
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653