Moody's Takes Action on Certain Citigroup Alt-A deals
New York, July 25, 2008 -- Moody's Investors Service has downgraded the ratings of 32 tranches from
7 Alt-A transactions issued by Citigroup Mortgage Loan Trust.
Additionally, 5 senior tranches were confirmed at Aaa. The
collateral backing these transactions consists primarily of first-lien,
fixed and adjustable-rate, Alt-A mortgage loans.
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.
Certain tranches were confirmed due to additional enhancement provided
by structural features. The actions described below are a result
of Moody's on-going review process.
Complete rating actions are as follows:
Issuer: Citigroup Mortgage Loan Trust Inc. 2005-7
Cl. 1-A1, Downgraded to Baa1 from Aaa
Cl. 1-A2, Downgraded to A3 from Aaa
Cl. 1-A3, Downgraded to A3 from Aaa
Cl. 1-A4, Downgraded to A3 from Aaa
Cl. 1-AIO1, Downgraded to A3 from Aaa
Cl. 1-AIO2, Downgraded to A3 from Aaa
Issuer: Citigroup Mortgage Loan Trust Series 2005-10
Cl. I-A12B, Downgraded to A1 from Aaa
Cl. I-A34B, Downgraded to A1 from Aaa
Cl. I-A5B, Downgraded to A1 from Aaa
Issuer: Citigroup Mortgage Loan Trust 2006-AR3
Cl. 2-A12B, Downgraded to Baa3 from Aa1
Cl. 2-A34B, Downgraded to Baa3 from Aa1
Cl. 2-1AX, Confirmed at Aaa
Cl. 2-2AX, Confirmed at Aaa
Issuer: Citigroup Mortgage Loan Trust 2006-AR6
Cl. 2-A4, Downgraded to Aa3 from Aaa
Issuer: Citigroup Mortgage Loan Trust 2007-AR1
Cl. A1, Confirmed at Aaa
Cl. A2, Confirmed at Aaa
Cl. A3, Confirmed at Aaa
Cl. A4, Downgraded to Ba1 from Aaa
Issuer: Citigroup Mortgage Loan Trust 2007-AR7
Cl. A1A, Downgraded to A2 from Aaa
Cl. A134B, Downgraded to B1 from Aa1
Cl. A2A, Downgraded to Baa2 from Aaa
Cl. A2B, Downgraded to B1 from Aa1
Cl. A3A, Downgraded to A1 from Aaa
Cl. A4A, Downgraded to A2 from Aaa
Cl. A5A, Downgraded to A2 from Aaa
Cl. A5B, Downgraded to B1 from Aa1
Cl. 3IO, Downgraded to A1 from Aaa
Cl. 4IO, Downgraded to A2 from Aaa
Issuer: Citigroup Mortgage Loan Trust 2007-OPX1
Cl. A-1A, Downgraded to A2 from Aaa
Cl. A-1B, Downgraded to A2 from Aaa
Cl. A-2, Downgraded to A3 from Aaa
Cl. A-3A, Downgraded to A3 from Aaa
Cl. A-3B, Downgraded to A3 from Aaa
Cl. A-4A, Downgraded to Baa1 from Aaa
Cl. A-4B, Downgraded to Baa1 from Aaa
Cl. A-5A, Downgraded to A3 from Aaa
Cl. A-5B, Downgraded to A3 from Aaa
A list of these actions including CUSIP identifiers may be found at:
Excel: http://www.moodys.com/cust/getdocumentByNotesDocId.asp?criteria=PBS_SF138410
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
Ilana Fried
Senior Associate
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653