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PLEASE READ AND SCROLL DOWN!

By clicking “I AGREE” [at the end of this document], you indicate that you understand and intend these terms and conditions to be the legal equivalent of a signed, written contract and equally binding, and that you accept such terms and conditions as a condition of viewing any and all Moody’s inform​ation that becomes accessible to you [after clicking “I AGREE”] (the “Information”).   References herein to “Moody’s” include Moody’s Corporation, Inc. and each of its subsidiaries and affiliates.

Terms of One-Time Website Use

1.            Unless you have entered into an express written contract with Moody’s to the contrary, you agree that you have no right to use the Information in a commercial or public setting and no right to copy it, save it, print it, sell it, or publish or distribute any portion of it in any form.               

2.            You acknowledge and agree that Moody’s credit ratings: (i) are current opinions of the future relative creditworthiness of securities and address no other risk; and (ii) are not statements of current or historical fact or recommendations to purchase, hold or sell particular securities.  Moody’s credit ratings and publications are not intended for retail investors, and it would be reckless and inappropriate for retail investors to use Moody’s credit ratings and publications when making an investment decision.  No warranty, express or implied, as the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any Moody’s credit rating is given or made by Moody’s in any form whatsoever.          

3.            To the extent permitted by law, Moody’s and its directors, officers, employees, representatives, licensors and suppliers disclaim liability for: (i) any indirect, special, consequential, or incidental losses or damages whatsoever arising from or in connection with use of the Information; and (ii) any direct or compensatory damages caused to any person or entity, including but not limited to by any negligence (but excluding fraud or any other type of liability that by law cannot be excluded) on the part of Moody’s or any of its directors, officers, employees, agents, representatives, licensors or suppliers, arising from or in connection with use of the Information.

4.            You agree to read [and be bound by] the more detailed disclosures regarding Moody’s ratings and the limitations of Moody’s liability included in the Information.     

5.            You agree that any disputes relating to this agreement or your use of the Information, whether sounding in contract, tort, statute or otherwise, shall be governed by the laws of the State of New York and shall be subject to the exclusive jurisdiction of the courts of the State of New York located in the City and County of New York, Borough of Manhattan.​​​

I AGREE
Related Issuers
Bear Stearns Asset Backed Securities I Trust 2005-AQ1
Bear Stearns Asset Backed Securities I Trust 2005-AQ2
Bear Stearns Asset Backed Securities I Trust 2005-EC1
Bear Stearns Asset Backed Securities I Trust 2005-FR1
Bear Stearns Asset Backed Securities I Trust 2005-HE1
Bear Stearns Asset Backed Securities I Trust 2005-HE11
Bear Stearns Asset Backed Securities I Trust 2005-HE12
Bear Stearns Asset Backed Securities I Trust 2005-HE2
Bear Stearns Asset Backed Securities I Trust 2005-HE4
Bear Stearns Asset Backed Securities I Trust 2005-HE5
Bear Stearns Asset Backed Securities I Trust 2005-HE6
Bear Stearns Asset Backed Securities I Trust 2005-TC1
Bear Stearns Asset Backed Securities I Trust 2006-AQ1
Bear Stearns Asset Backed Securities I Trust 2006-EC1
Bear Stearns Asset Backed Securities I Trust 2006-EC2
Bear Stearns Asset Backed Securities I Trust 2006-HE1
Bear Stearns Asset Backed Securities I Trust 2006-HE10
Bear Stearns Asset Backed Securities I Trust 2006-HE2
Bear Stearns Asset Backed Securities I Trust 2006-HE3
Bear Stearns Asset Backed Securities I Trust 2006-HE4
Bear Stearns Asset Backed Securities I Trust 2006-HE5
Bear Stearns Asset Backed Securities I Trust 2006-HE6
Bear Stearns Asset Backed Securities I Trust 2006-HE7
Bear Stearns Asset Backed Securities I Trust 2006-HE8
Bear Stearns Asset Backed Securities I Trust 2006-HE9
Bear Stearns Asset Backed Securities I Trust 2006-PC1
Bear Stearns Asset Backed Securities I Trust 2007-AQ1
Bear Stearns Asset Backed Securities I Trust 2007-AQ2
Bear Stearns Asset Backed Securities I Trust 2007-FS1
Bear Stearns Asset Backed Securities I Trust 2007-HE1
Bear Stearns Asset Backed Securities I Trust 2007-HE2
Bear Stearns Asset Backed Securities I Trust 2007-HE3
Bear Stearns Asset Backed Securities I Trust 2007-HE4
Bear Stearns Asset Backed Securities I Trust 2007-HE5
Bear Stearns Asset Backed Securities I Trust 2007-HE6
Bear Stearns Asset Backed Securities I Trust 2007-HE7
Bear Stearns Structured Products Trust 2007-EMX1
Rating Action:

Moody's Downgrades Certain Bear Stearns Subprime RMBS

16 Oct 2008
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

No Related Data.
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