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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
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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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