Moody's Downgrades Certain Lehman XS Alt-A deals
New York, March 31, 2008 -- Moody's Investors Service has downgraded the ratings of 279 tranches from
27 Alt-A transactions issued by Lehman XS Trust Series.
One hundred sixty two downgraded tranches remain on review for possible
further downgrade. Additionally, 97 tranches were placed
on review for possible downgrade.
The collateral backing these transactions consists primarily of first-lien,
fixed and adjustable-rate, Alt-A mortgage loans.
The ratings were downgraded, in general, based on higher than
anticipated rates of delinquency, foreclosure, and REO in
the underlying collateral relative to credit enhancement levels.
The actions described below are a result of Moody's on-going review
process.
Complete rating actions are as follows:
Issuer: Lehman XS Trust Series 2005-1
Cl. M1, Downgraded to A1 from Aa2
Cl. M2, Downgraded to Ba1 from A2
Cl. M3, Downgraded to Ca from Baa2
Cl. M4, Downgraded to Ca from Baa3
Cl. 3-M3, Downgraded to Baa3 from Baa2
Issuer: Lehman XS Trust Series 2005-2
Cl. 1-M2, Downgraded to Baa3 from A2
Cl. 1-M3, Downgraded to Caa1 from Baa3; Placed
Under Review for further Possible Downgrade
Cl. 2-M1, Downgraded to Baa2 from A2
Issuer: Lehman XS Trust Series 2005-3
Cl. 1-M1, Downgraded to A1 from Aa2
Cl. 1-M2, Downgraded to B3 from A2; Placed Under
Review for further Possible Downgrade
Cl. 1-M3, Downgraded to Ca from B1
Cl. 2-M1, Downgraded to Ba3 from Aa2
Cl. 2-M2, Downgraded to Caa1 from Baa1; Placed
Under Review for further Possible Downgrade
Cl. 2-M3, Downgraded to Ca from Caa1
Issuer: Lehman XS Trust Series 2005-4
Cl. 1-M1, Downgraded to A1 from Aa2
Cl. 1-M2, Downgraded to B3 from A2; Placed Under
Review for further Possible Downgrade
Cl. 1-M3, Downgraded to Caa2 from Baa3; Placed
Under Review for further Possible Downgrade
Cl. 2-M1, Downgraded to A3 from Aa3
Cl. 2-M2, Downgraded to B2 from A3
Cl. 2-M3, Downgraded to Caa1 from Baa2; Placed
Under Review for further Possible Downgrade
Issuer: Lehman XS Trust Series 2005-6
Cl. M1, Downgraded to Baa3 from Aa2
Cl. M2, Downgraded to B3 from Baa2; Placed Under Review
for further Possible Downgrade
Cl. 3-M1, Downgraded to A1 from Aa2
Cl. 3-M2, Downgraded to Ba2 from A2
Cl. 3-M3, Downgraded to Caa1 from Ba1; Placed
Under Review for further Possible Downgrade
Issuer: Lehman XS Trust Series 2005-8
Cl. 1-M1, Downgraded to B3 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. 1-M2, Downgraded to B3 from Aa3; Placed Under
Review for further Possible Downgrade
Cl. 1-M3, Downgraded to Caa1 from Baa3; Placed
Under Review for further Possible Downgrade
Cl. 1-M4, Downgraded to Ca from Ba3
Cl. 1-M5, Downgraded to Ca from Caa3
Cl. 2-M1, Downgraded to A1 from Aa2
Cl. 2-M2, Downgraded to A3 from Aa3
Cl. 2-M3, Downgraded to Ba2 from A2
Cl. 2-M4, Downgraded to B2 from A3; Placed Under
Review for further Possible Downgrade
Cl. 2-M5, Downgraded to B3 from Baa2; Placed
Under Review for further Possible Downgrade
Cl. 2-M6, Downgraded to Caa1 from Ba1; Placed
Under Review for further Possible Downgrade
Issuer: Lehman XS Trust Series 2005-10
Cl. 1-A1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-M1, Downgraded to B3 from Aa1; Placed Under
Review for further Possible Downgrade
Cl. 1-M2, Downgraded to Caa1 from Aa2; Placed
Under Review for further Possible Downgrade
Cl. 1-M3, Downgraded to Caa1 from Aa3; Placed
Under Review for further Possible Downgrade
Cl. 1-M4, Downgraded to Ca from B2
Cl. 2-M1, Downgraded to Aa3 from Aa2
Cl. 2-M2, Downgraded to A1 from Aa3
Cl. 2-M3, Downgraded to Baa3 from A2
Cl. 2-M4, Downgraded to B3 from Baa2; Placed
Under Review for further Possible Downgrade
Cl. 2-M5, Downgraded to Ca from Ba1
Issuer: Lehman XS Trust Series 2006-1
Cl. 1-M2, Downgraded to A1 from Aa2
Cl. 1-M3, Downgraded to Baa1 from Aa3
Cl. 1-M4, Downgraded to B3 from A2; Placed Under
Review for further Possible Downgrade
Cl. 1-M5, Downgraded to B3 from Baa1; Placed
Under Review for further Possible Downgrade
Cl. 1-M6, Downgraded to Ca from Ba1
Cl. 1-M7, Downgraded to Ca from B1
Cl. 2-M1, Downgraded to A2 from Aa2
Cl. 2-M2, Downgraded to Baa1 from Aa3
Cl. 2-M3, Downgraded to B1 from A2;
Cl. 2-M4, Downgraded to B2 from A3; Placed Under
Review for further Possible Downgrade
Cl. 2-M5, Downgraded to Ca from Ba1
Issuer: Lehman XS Trust Series 2006-3
Cl. M1, Downgraded to Ba1 from Aa1
Cl. M2, Downgraded to B2 from Aa2; Placed Under Review
for further Possible Downgrade
Cl. M3, Downgraded to B3 from Aa3; Placed Under Review
for further Possible Downgrade
Cl. M4, Downgraded to B3 from Baa1; Placed Under Review
for further Possible Downgrade
Cl. M5, Downgraded to Caa1 from Baa2; Placed Under Review
for further Possible Downgrade
Cl. M6, Downgraded to Ca from B2
Issuer: Lehman XS Trust Series 2006-5
Cl. 1-A1B, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A4B, Placed on Review for Possible Downgrade,
currently Aaa
Cl. M1, Downgraded to A3 from Aa1
Cl. M2, Downgraded to Ba3 from Aa2
Cl. M3, Downgraded to B2 from Aa3; Placed Under Review
for further Possible Downgrade
Cl. M4, Downgraded to B3 from A1; Placed Under Review
for further Possible Downgrade
Cl. M5, Downgraded to B3 from A3; Placed Under Review
for further Possible Downgrade
Cl. M6, Downgraded to B3 from Baa1; Placed Under Review
for further Possible Downgrade
Cl. M7, Downgraded to Caa1 from Baa3; Placed Under Review
for further Possible Downgrade
Cl. M8, Downgraded to Ca from Ba2
Cl. M9, Downgraded to Ca from B1
Issuer: Lehman XS Trust Series 2006-7
Cl. 1-A1B, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A3A, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A3B, Placed on Review for Possible Downgrade,
currently Aaa
Cl. M1, Downgraded to Ba2 from Aa1
Cl. M2, Downgraded to B3 from Aa2; Placed Under Review
for further Possible Downgrade
Cl. M3, Downgraded to B3 from Aa3; Placed Under Review
for further Possible Downgrade
Cl. M4, Downgraded to B3 from A2; Placed Under Review
for further Possible Downgrade
Cl. M5, Downgraded to B3 from Baa1; Placed Under Review
for further Possible Downgrade
Cl. M6, Downgraded to Caa1 from Baa2; Placed Under Review
for further Possible Downgrade
Cl. M7, Downgraded to Ca from Ba1
Cl. M8, Downgraded to Ca from Ba2
Cl. M9, Downgraded to Ca from B2
Issuer: Lehman XS Trust Series 2006-8
Cl. 1-A1B, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A4A, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A4B, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3-A5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. M1, Downgraded to A3 from Aa1
Cl. M2, Downgraded to Baa3 from Aa2
Cl. M3, Downgraded to Ba3 from Aa2
Cl. M4, Downgraded to B2 from Aa2; Placed Under Review
for further Possible Downgrade
Cl. M5, Downgraded to B2 from Aa3; Placed Under Review
for further Possible Downgrade
Cl. M6, Downgraded to B3 from A2; Placed Under Review
for further Possible Downgrade
Cl. M7, Downgraded to B3 from Baa1; Placed Under Review
for further Possible Downgrade
Cl. M8, Downgraded to Ca from Ba2
Cl. M9, Downgraded to Ca from B1
Issuer: Lehman XS Trust Series 2006-9
Cl. A2, Placed on Review for Possible Downgrade, currently
Aaa
Cl. M1, Downgraded to B2 from Aa1; Placed Under Review
for further Possible Downgrade
Cl. M2, Downgraded to B3 from Aa2; Placed Under Review
for further Possible Downgrade
Cl. M3, Downgraded to B3 from Aa3; Placed Under Review
for further Possible Downgrade
Cl. M4, Downgraded to B3 from A2; Placed Under Review
for further Possible Downgrade
Cl. M5, Downgraded to Caa1 from Baa2; Placed Under Review
for further Possible Downgrade
Cl. M6, Downgraded to Caa1 from Baa3; Placed Under Review
for further Possible Downgrade
Cl. M7, Downgraded to Ca from Ba2
Cl. M8, Downgraded to Ca from B1
Cl. M9, Downgraded to Ca from Caa2
Issuer: Lehman XS Trust Series 2006-11
Cl. 1-A4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. M1, Downgraded to B2 from Aa1
Cl. M2, Downgraded to B2 from Aa2; Placed Under Review
for further Possible Downgrade
Cl. M3, Downgraded to B3 from Aa2; Placed Under Review
for further Possible Downgrade
Cl. M4, Downgraded to B3 from Aa3; Placed Under Review
for further Possible Downgrade
Cl. M5, Downgraded to B3 from A3; Placed Under Review
for further Possible Downgrade
Cl. M6, Downgraded to B3 from Baa2; Placed Under Review
for further Possible Downgrade
Cl. M7, Downgraded to Caa1 from Baa3; Placed Under Review
for further Possible Downgrade
Cl. M8, Downgraded to Ca from Ba3
Cl. M9, Downgraded to Ca from Caa1
Issuer: Lehman XS Trust Series 2006-13
Cl. 1-A1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-M1, Downgraded to B3 from Aa1; Placed Under
Review for further Possible Downgrade
Cl. 1-M2, Downgraded to B3 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. 1-M3, Downgraded to B3 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. 1-M5, Downgraded to Caa1 from A3; Placed
Under Review for further Possible Downgrade
Cl. 1-M4, Downgraded to Caa1 from Aa3; Placed
Under Review for further Possible Downgrade
Cl. 1-M6, Downgraded to Caa1 from Baa2; Placed
Under Review for further Possible Downgrade
Cl. 1-M7, Downgraded to Caa1 from Baa3; Placed
Under Review for further Possible Downgrade
Cl. 1-M8, Downgraded to Ca from Ba2
Cl. 1-M9, Downgraded to Ca from B3
Cl. 2-M1, Downgraded to Ba1 from Aa2
Cl. 2-M2, Downgraded to B1 from Aa3
Cl. 2-M3, Downgraded to B2 from Baa1; Placed
Under Review for further Possible Downgrade
Cl. 2-M4, Downgraded to Ca from Ba2
Cl. 2-M5, Downgraded to Ca from B3
Issuer: Lehman XS Trust Series 2006-15
Cl. A5, Placed on Review for Possible Downgrade, currently
Aaa
Cl. M1, Downgraded to B3 from Aa1; Placed Under Review
for further Possible Downgrade
Cl. M2, Downgraded to B3 from Aa2; Placed Under Review
for further Possible Downgrade
Cl. M3, Downgraded to B3 from Aa2; Placed Under Review
for further Possible Downgrade
Cl. M4, Downgraded to B3 from Aa3; Placed Under Review
for further Possible Downgrade
Cl. M5, Downgraded to B3 from A3; Placed Under Review
for further Possible Downgrade
Cl. M6, Downgraded to Caa1 from Baa1; Placed Under Review
for further Possible Downgrade
Cl. M7, Downgraded to Caa1 from Baa2; Placed Under Review
for further Possible Downgrade
Cl. M8, Downgraded to Ca from Ba2
Cl. M9, Downgraded to Ca from B1
Issuer: Lehman XS Trust 2006-17
Cl. 1-A1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A4B, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-M1, Downgraded to B3 from Aa1; Placed Under
Review for further Possible Downgrade
Cl. 1-M2, Downgraded to B3 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. 1-M3, Downgraded to B3 from Aa3; Placed Under
Review for further Possible Downgrade
Cl. 1-M4, Downgraded to Caa1 from A3; Placed
Under Review for further Possible Downgrade
Cl. 1-M5, Downgraded to Caa1 from Baa2; Placed
Under Review for further Possible Downgrade
Cl. 1-M6, Downgraded to Caa1 from Baa3; Placed
Under Review for further Possible Downgrade
Cl. 1-M7, Downgraded to Ca from Ba3
Cl. 1-M8, Downgraded to Ca from B3
Cl. WF-M3, Downgraded to B1 from Aa3; Placed
Under Review for further Possible Downgrade
Cl. WF-M1, Downgraded to A2 from Aa1
Cl. WF-M2, Downgraded to Ba2 from Aa2
Cl. WF-M4, Downgraded to B2 from A1; Placed Under
Review for further Possible Downgrade
Cl. WF-M5, Downgraded to B2 from A2; Placed Under
Review for further Possible Downgrade
Cl. WF-M6, Downgraded to B3 from A3; Placed Under
Review for further Possible Downgrade
Cl. WF-M7, Downgraded to B3 from Baa1; Placed
Under Review for further Possible Downgrade
Cl. WF-M8, Downgraded to B3 from Baa2; Placed
Under Review for further Possible Downgrade
Cl. WF-M9, Downgraded to Ca from Ba1
Issuer: Lehman XS Trust 2006-19
Cl. A1, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A2, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A3, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A4, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A5, Placed on Review for Possible Downgrade, currently
Aaa
Cl. M1, Downgraded to B3 from Aa1; Placed Under Review
for further Possible Downgrade
Cl. M2, Downgraded to B3 from Aa2; Placed Under Review
for further Possible Downgrade
Cl. M3, Downgraded to B3 from Aa2; Placed Under Review
for further Possible Downgrade
Cl. M4, Downgraded to Caa1 from Aa3; Placed Under Review
for further Possible Downgrade
Cl. M5, Downgraded to Caa1 from Baa1; Placed Under Review
for further Possible Downgrade
Cl. M6, Downgraded to Caa1 from Baa3; Placed Under Review
for further Possible Downgrade
Cl. M7, Downgraded to Ca from Ba1
Cl. M8, Downgraded to Ca from B1
Cl. M9, Downgraded to Ca from B2
Issuer: Lehman XS Trust Series 2006-20
Cl. A1, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A2, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A3, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A4, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A5, Placed on Review for Possible Downgrade, currently
Aaa
Cl. AIO, Placed on Review for Possible Downgrade, currently
Aaa
Cl. M1, Downgraded to B3 from Aa1; Placed Under Review
for further Possible Downgrade
Cl. M2, Downgraded to B3 from Aa2; Placed Under Review
for further Possible Downgrade
Cl. M3, Downgraded to B3 from Aa3; Placed Under Review
for further Possible Downgrade
Cl. M4, Downgraded to Caa1 from A3; Placed Under Review
for further Possible Downgrade
Cl. M5, Downgraded to Caa1 from Baa2; Placed Under Review
for further Possible Downgrade
Cl. M6, Downgraded to Caa1 from Baa3; Placed Under Review
for further Possible Downgrade
Cl. M7, Downgraded to Ca from Ba3
Cl. M8, Downgraded to Ca from B2
Cl. M9, Downgraded to Ca from Caa1
Issuer: Lehman XS Trust Series 2007-1
Cl. 1-A1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. WF-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. M1, Downgraded to B3 from Aa1; Placed Under Review
for further Possible Downgrade
Cl. M2, Downgraded to B3 from Aa2; Placed Under Review
for further Possible Downgrade
Cl. M3, Downgraded to B3 from Aa3; Placed Under Review
for further Possible Downgrade
Cl. M4, Downgraded to Ca from Ba1
Cl. M5, Downgraded to Ca from Ba3
Cl. M6, Downgraded to Ca from B3
Cl. WF-M1, Downgraded to Baa3 from Aa1
Cl. WF-M2, Downgraded to B1 from Aa2; Placed
Under Review for further Possible Downgrade
Cl. WF-M3, Downgraded to B1 from Aa3; Placed
Under Review for further Possible Downgrade
Cl. WF-M4, Downgraded to B3 from Baa3; Placed
Under Review for further Possible Downgrade
Cl. WF-M5, Downgraded to Ca from B1
Cl. WF-M6, Downgraded to Ca from B3
Cl. WF-M7, Downgraded to Ca from Caa2
Issuer: Lehman XS Trust Mortgage Pass-Through Certificates,
Series 2007-3
Cl. 1A-A1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1B-A1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1B-A2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-A, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3B-A2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3B-A3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-A1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-A3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-A4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-AIO, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4B-A1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4B-A2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4B-AIO, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-M1, Downgraded to B2 from Aa1; Placed Under
Review for further Possible Downgrade
Cl. 1-M2, Downgraded to B3 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. 1-M3, Downgraded to B3 from Aa3; Placed Under
Review for further Possible Downgrade
Cl. 1-M4, Downgraded to B3 from Baa2; Placed
Under Review for further Possible Downgrade
Cl. 1-M5, Downgraded to Ca from Ba1
Cl. 1-M6, Downgraded to Ca from Ba3
Cl. 1-M7, Downgraded to Ca from Caa1
Cl. 2-M1, Downgraded to B2 from Aa1; Placed Under
Review for further Possible Downgrade
Cl. 2-M2, Downgraded to B2 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. 2-M3, Downgraded to B3 from Aa3; Placed Under
Review for further Possible Downgrade
Cl. 2-M4, Downgraded to B3 from Ba1; Placed Under
Review for further Possible Downgrade
Cl. 2-M5, Downgraded to Ca from Ba2
Cl. 2-M6, Downgraded to Ca from B1
Cl. 2-M7, Downgraded to Ca from B2
Cl. 2-M8, Downgraded to Ca from B3
Cl. 2-M9, Downgraded to Ca from Caa2
Cl. 3-M1, Downgraded to B1 from Aa1; Placed Under
Review for further Possible Downgrade
Cl. 3-M2, Downgraded to B2 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. 3-M3, Downgraded to B3 from Aa3; Placed Under
Review for further Possible Downgrade
Cl. 3-M4, Downgraded to Ca from Ba2
Cl. 3-M5, Downgraded to Ca from B3
Cl. 4-M1, Downgraded to B1 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. 4-M2, Downgraded to B2 from Aa3; Placed Under
Review for further Possible Downgrade
Cl. 4-M3, Downgraded to B3 from Baa3; Placed
Under Review for further Possible Downgrade
Cl. 4-M4, Downgraded to B3 from Ba2; Placed Under
Review for further Possible Downgrade
Cl. 4-M5, Downgraded to Ca from Caa1
Cl. 4-M6, Downgraded to Ca from Caa2
Issuer: Lehman XS Trust 2007-6
Cl. 1-A1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-AIO, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A2, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A3, Placed on Review for Possible Downgrade, currently
Aaa
Cl. I-M1, Downgraded to B3 from Aa1; Placed Under
Review for further Possible Downgrade
Cl. I-M2, Downgraded to B3 from Aa1; Placed Under
Review for further Possible Downgrade
Cl. I-M3, Downgraded to Caa1 from Aa2; Placed
Under Review for further Possible Downgrade
Cl. I-M4, Downgraded to Caa1 from Aa3; Placed
Under Review for further Possible Downgrade
Cl. I-M5, Downgraded to Caa1 from Baa3; Placed
Under Review for further Possible Downgrade
Cl. I-M6, Downgraded to Ca from Ba3
Cl. I-M7, Downgraded to Ca from B3
Cl. I-M8, Downgraded to Ca from Caa2
Cl. I-M9, Downgraded to Ca from Caa3
Cl. II-M1, Downgraded to A3 from Aa1
Cl. II-M2, Downgraded to B1 from Aa2
Cl. II-M3, Downgraded to B1 from Aa3; Placed
Under Review for further Possible Downgrade
Cl. II-M4, Downgraded to B1 from Baa3; Placed
Under Review for further Possible Downgrade
Cl. II-M5, Downgraded to B2 from Ba2; Placed
Under Review for further Possible Downgrade
Cl. II-M6, Downgraded to B3 from Ba3; Placed
Under Review for further Possible Downgrade
Cl. II-M7, Downgraded to Ca from B1
Cl. II-M8, Downgraded to Ca from B3
Issuer: Lehman XS Trust Series 2007-8H
Cl. A1, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A2, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A3, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A4, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A5, Placed on Review for Possible Downgrade, currently
Aaa
Cl. AIO, Placed on Review for Possible Downgrade, currently
Aaa
Cl. M1, Downgraded to B1 from Aa1; Placed Under Review
for further Possible Downgrade
Cl. M2, Downgraded to B2 from Aa2; Placed Under Review
for further Possible Downgrade
Cl. M3, Downgraded to B2 from Aa3; Placed Under Review
for further Possible Downgrade
Cl. M4, Downgraded to B3 from A1; Placed Under Review
for further Possible Downgrade
Cl. M5, Downgraded to B3 from A2; Placed Under Review
for further Possible Downgrade
Cl. M6, Downgraded to B3 from A3; Placed Under Review
for further Possible Downgrade
Cl. M7, Downgraded to Caa1 from Baa1; Placed Under Review
for further Possible Downgrade
Cl. M8, Downgraded to Caa1 from Baa2; Placed Under Review
for further Possible Downgrade
Issuer: Lehman XS Trust Series 2007-9
Cl. I-A1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. I-A2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. I-A3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. I-A4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. I-AIO, Placed on Review for Possible Downgrade,
currently Aaa
Cl. I-M1, Downgraded to B2 from Aa1; Placed Under
Review for further Possible Downgrade
Cl. I-M2, Downgraded to B3 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. I-M3, Downgraded to B3 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. I-M4, Downgraded to Ca from Ba1
Cl. I-M5, Downgraded to Ca from Ba2
Cl. I-M6, Downgraded to Ca from Ba3
Cl. I-M7, Downgraded to Ca from B1
Cl. I-M8, Downgraded to Ca from B2
Cl. I-M9, Downgraded to Ca from B3
Cl. WF-M2, Downgraded to A2 from Aa2
Cl. WF-M3, Downgraded to A3 from Aa3
Cl. WF-M4, Downgraded to Baa2 from A1
Cl. WF-M5, Downgraded to Ba3 from A2
Cl. WF-M6, Downgraded to B1 from A3; Placed Under
Review for further Possible Downgrade
Cl. WF-M7, Downgraded to B1 from Baa2; Placed
Under Review for further Possible Downgrade
Cl. WF-M8, Downgraded to B1 from Baa3; Placed
Under Review for further Possible Downgrade
Cl. WF-M9, Downgraded to B2 from Ba2 Placed Under
Review for further Possible Downgrade
Issuer: Lehman XS Trust 2007-10H
Cl. I-A1-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. I-A2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. I-A3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. I-A4-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. I-AIO, Placed on Review for Possible Downgrade,
currently Aaa
Cl. II-A4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. II-AIO, Placed on Review for Possible Downgrade,
currently Aaa
Cl. I-M1, Downgraded to B1 from Aa1; Placed Under
Review for further Possible Downgrade
Cl. I-M2, Downgraded to B1 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. I-M3, Downgraded to B2 from Aa3; Placed Under
Review for further Possible Downgrade
Cl. I-M4, Downgraded to B2 from A1; Placed Under
Review for further Possible Downgrade
Cl. I-M5, Downgraded to B3 from A2; Placed Under
Review for further Possible Downgrade
Cl. I-M6, Downgraded to B3 from A3; Placed Under
Review for further Possible Downgrade
Cl. I-M7, Downgraded to B3 from Baa1; Placed
Under Review for further Possible Downgrade
Cl. I-M8, Downgraded to B3 from Baa2; Placed
Under Review for further Possible Downgrade
Cl. I-M9, Downgraded to Caa1 from Baa3; Placed
Under Review for further Possible Downgrade
Cl. II-M1, Downgraded to Aa3 from Aa1
Cl. II-M2, Downgraded to A1 from Aa2
Cl. II-M3, Downgraded to A3 from Aa3
Issuer: Lehman XS Trust Series 2007-11
Cl. A1, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A2, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A3, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A4, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A5, Placed on Review for Possible Downgrade, currently
Aaa
Cl. AIO, Placed on Review for Possible Downgrade, currently
Aaa
Cl. M1, Downgraded to B1 from Aa1; Placed Under Review
for further Possible Downgrade
Cl. M2, Downgraded to B1 from Aa2; Placed Under Review
for further Possible Downgrade
Cl. M3, Downgraded to B2 from Aa3; Placed Under Review
for further Possible Downgrade
Cl. M4, Downgraded to B3 from A1; Placed Under Review
for further Possible Downgrade
Cl. M5, Downgraded to B3 from A2; Placed Under Review
for further Possible Downgrade
Cl. M6, Downgraded to B3 from A3; Placed Under Review
for further Possible Downgrade
Cl. M7, Downgraded to B3 from Baa1; Placed Under Review
for further Possible Downgrade
Cl. M8, Downgraded to Caa1 from Baa2; Placed Under Review
for further Possible Downgrade
Cl. M9, Downgraded to Caa1 from Baa3; Placed Under Review
for further Possible Downgrade
Cl. M10, Downgraded to Ca from Ba2
Cl. M11, Downgraded to Ca from Ba3
Issuer: Lehman XS Trust Series 2007-14H
Cl. A1-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A1-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A2-1-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A2-1-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A3, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A4, Placed on Review for Possible Downgrade, currently
Aaa
Cl. AIO, Placed on Review for Possible Downgrade, currently
Aaa
Cl. M1, Downgraded to B1 from Aa1; Placed Under Review
for further Possible Downgrade
Cl. M2, Downgraded to B1 from Aa2; Placed Under Review
for further Possible Downgrade
Cl. M3, Downgraded to B2 from Aa3; Placed Under Review
for further Possible Downgrade
Cl. M4, Downgraded to B2 from A1; Placed Under Review
for further Possible Downgrade
Cl. M5, Downgraded to B3 from A2; Placed Under Review
for further Possible Downgrade
Cl. M6, Downgraded to B3 from A3; Placed Under Review
for further Possible Downgrade
Cl. M7, Downgraded to B3 from Baa1; Placed Under Review
for further Possible Downgrade
Cl. M8, Downgraded to B3 from Baa2; Placed Under Review
for further Possible Downgrade
Cl. M9, Downgraded to Caa1 from Baa3; Placed Under Review
for further Possible Downgrade
A list of these actions including CUSIP identifiers may be found at:
PDF: http://www.moodys.com/cust/getdocumentByNotesDocId.asp?criteria=PBS_SF128110
Excel: http://www.moodys.com/cust/getdocumentByNotesDocId.asp?criteria=PBS_SF128111
For more information please see www.moodys.com.
New York
Amelia (Amy) Tobey
Vice President - Senior Analyst
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
New York
Navneet Agarwal
Vice President - Senior Analyst
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653