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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.

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Rating Action:

Moody's Takes Action on Certain Lehman XS Alt-A deals

02 Sep 2008
Moody's Takes Action on Certain Lehman XS Alt-A deals

New York, September 02, 2008 -- Moody's Investors Service has downgraded the ratings of 424 tranches from 23 Alt-A transactions issued by Lehman XS Trust. Forty downgraded tranches remain on review for possible downgrade. Additionally, 4 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.

Moody's Investors Service also takes action on certain insured notes as identified below. The ratings on securities that are guaranteed or "wrapped" by a financial guarantor is the higher of a) the rating of the guarantor or b) the published underlying rating. The underlying ratings reflect the intrinsic credit quality of the notes in the absence of the guarantee. The current ratings on the below notes are consistent with Moody's practice of rating insured securities at the higher of the guarantor's insurance financial strength rating and any underlying rating that is public.

Complete rating actions are as follows:

Issuer: Lehman XS Trust 2006-17

Cl. 1-A1, Downgraded to A2 from Aaa

Cl. 1-A2, Downgraded to Baa1 from Aaa

Cl. 1-A3, Downgraded to Baa1 from Aaa

Cl. 1-A4A, Downgraded to Aa2 from Aaa

Cl. 1-A4B, Downgraded to Baa1 from Aaa

Cl. 1-A5, Downgraded to B3 from Aaa; Placed Under Review for further Possible Downgrade

Cl. 1-AIO, Downgraded to Aa2 from Aaa

Cl. WF-3-1, Downgraded to Aa2 from Aaa

Financial Guarantor: MBIA Insurance Corporation (A2, negative outlook)

Underlying Rating: Aa2

Cl. WF-3-3, Downgraded to Aa3 from Aaa

Cl. WF-4-1, Downgraded to Aa2 from Aaa

Financial Guarantor: MBIA Insurance Corporation (A2, negative outlook)

Underlying Rating: Aa2

Cl. WF-4-2, Downgraded to Aa2 from Aaa

Cl. WF-5, Downgraded to Aa3 from Aaa

Cl. WF-6-1, Downgraded to Aa3 from Aaa

Financial Guarantor: MBIA Insurance Corporation (A2, negative outlook)

Underlying Rating: Aa3

Cl. WF-6-2, Downgraded to Aa3 from Aaa

Cl. WF-M1, Downgraded to Baa3 from A2

Cl. WF-M2, Downgraded to B2 from Ba2; Placed Under Review for further Possible Downgrade

Cl. WF-M3, Downgraded to B3 from B1; Placed Under Review for further Possible Downgrade

Cl. WF-M4, Downgraded to Caa1 from B2

Cl. WF-M5, Downgraded to Caa2 from B2

Cl. WF-M6, Downgraded to Ca from B3

Cl. WF-M7, Downgraded to Ca from B3

Cl. WF-M8, Downgraded to C from B3

Cl. WF-M9, Downgraded to C from Ca

Cl. 1-M1, Downgraded to Caa2 from B3

Cl. 1-M2, Downgraded to Ca from B3

Cl. 1-M3, Downgraded to C from B3

Cl. 1-M4, Downgraded to C from Caa1

Cl. 1-M5, Downgraded to C from Caa1

Cl. 1-M6, Downgraded to C from Caa1

Cl. 1-M7, Downgraded to C from Ca

Cl. 1-M8, Downgraded to C from Ca

Issuer: Lehman XS Trust 2006-19

Cl. A1, Downgraded to Aa1 from Aaa

Cl. A2, Downgraded to Baa1 from Aaa

Cl. A3, Downgraded to Baa1 from Aaa

Cl. A4, Downgraded to A3 from Aaa

Cl. A5, Downgraded to B3 from Aaa; Placed Under Review for further Possible Downgrade

Cl. M1, Downgraded to Ca from B3

Cl. M2, Downgraded to C from B3

Cl. M3, Downgraded to C from B3

Cl. M4, Downgraded to C from Caa1

Cl. M5, Downgraded to C from Caa1

Cl. M6, Downgraded to C from Caa1

Cl. M7, Downgraded to C from Ca

Cl. M8, Downgraded to C from Ca

Cl. M9, Downgraded to C from Ca

Issuer: Lehman XS Trust 2007-10H

Cl. I-A1-1, Downgraded to Baa1 from Aaa

Cl. I-A1-2, Downgraded to Aa3 from Aaa

Financial Guarantor: Ambac Assurance Corporation (Aa3, negative outlook)

Underlying Rating: Baa1

Cl. I-A2, Downgraded to Baa2 from Aaa

Cl. I-A3, Downgraded to Baa2 from Aaa

Cl. I-A4-1, Downgraded to Aa3 from Aaa

Financial Guarantor: Ambac Assurance Corporation (Aa3, negative outlook)

Underlying Rating: Caa2

Cl. I-A4-2, Downgraded to Caa2 from Aaa

Cl. I-AIO, Downgraded to Baa1 from Aaa

Cl. II-A4, Downgraded to Aa2 from Aaa

Cl. II-AIO, Confirmed at Aaa

Cl. I-M1, Downgraded to Ca from B1

Cl. I-M2, Downgraded to Ca from B1

Cl. I-M3, Downgraded to C from B2

Cl. I-M4, Downgraded to C from B2

Cl. I-M5, Downgraded to C from B3

Cl. I-M6, Downgraded to C from B3

Cl. I-M7, Downgraded to C from B3

Cl. I-M8, Downgraded to C from B3

Cl. I-M9, Downgraded to C from Caa1

Cl. II-M1, Downgraded to Baa1 from Aa3

Cl. II-M2, Downgraded to Ba3 from A1

Cl. II-M3, Downgraded to B3 from A3

Issuer: Lehman XS Trust 2007-6

Cl. 1-A1, Downgraded to A2 from Aaa

Cl. 2-A1, Downgraded to Aa1 from Aaa

Cl. 2-AIO, Downgraded to Aa1 from Aaa

Cl. 3-A1, Downgraded to Aa3 from Aaa

Financial Guarantor: Ambac Assurance Corporation (Aa3, negative outlook)

Underlying Rating: A1

Cl. 3-A2, Downgraded to Aa3 from Aaa

Financial Guarantor: Ambac Assurance Corporation (Aa3, negative outlook)

Underlying Rating: A1

Cl. 3-A3-1, Downgraded to Aa3 from Aaa

Financial Guarantor: Ambac Assurance Corporation (Aa3, negative outlook)

Underlying Rating: A1

Cl. 3-A3-2, Downgraded to Aa3 from Aaa

Financial Guarantor: Ambac Assurance Corporation (Aa3, negative outlook)

Underlying Rating: A1

Cl. 3-A3-3, Downgraded to Aa3 from Aaa

Financial Guarantor: Ambac Assurance Corporation (Aa3, negative outlook)

Underlying Rating: A1

Cl. 3-A4, Downgraded to Aa3 from Aaa

Financial Guarantor: Ambac Assurance Corporation (Aa3, negative outlook)

Underlying Rating: A1

Cl. 3-A5, Downgraded to Aa3 from Aaa

Financial Guarantor: Ambac Assurance Corporation (Aa3, negative outlook)

Underlying Rating: A1

Cl. 3-A7, Downgraded to Aa3 from Aaa

Financial Guarantor: Ambac Assurance Corporation (Aa3, negative outlook)

Underlying Rating: A2

Cl. 3-AIO, Downgraded to A1 from Aaa

Cl. A2, Downgraded to Ba3 from Aaa

Cl. A3, Downgraded to Caa1 from Aaa

Cl. I-M1, Downgraded to Ca from B3

Cl. I-M2, Downgraded to C from B3

Cl. I-M3, Downgraded to C from Caa1

Cl. I-M4, Downgraded to C from Caa1

Cl. I-M5, Downgraded to C from Caa1

Cl. I-M6, Downgraded to C from Ca

Cl. I-M7, Downgraded to C from Ca

Cl. I-M8, Downgraded to C from Ca

Cl. I-M9, Downgraded to C from Ca

Cl. I-M10, Downgraded to C from Ca

Cl. II-M1, Downgraded to Baa3 from A3

Cl. II-M2, Downgraded to B2 from B1

Cl. II-M3, Downgraded to B3 from B1; Placed Under Review for further Possible Downgrade

Cl. II-M4, Downgraded to B3 from B1; Placed Under Review for further Possible Downgrade

Cl. II-M5, Downgraded to Caa1 from B2

Cl. II-M6, Downgraded to Caa2 from B3

Issuer: Lehman XS Trust Mortgage Pass-Through Certificates, Series 2007-3

Cl. 1A-A1, Downgraded to Ba1 from Aaa

Cl. 1A-A2, Downgraded to Caa1 from Aaa

Cl. 1B-A1, Downgraded to Ba1 from Aaa

Cl. 1B-A2, Downgraded to Ba1 from Aaa

Cl. 1B-A3, Downgraded to Caa1 from Aaa

Cl. 2-A1, Downgraded to A3 from Aaa

Cl. 2-A2, Downgraded to Baa1 from Aaa

Cl. 2-A3, Downgraded to Baa1 from Aaa

Cl. 2-A4, Downgraded to Caa1 from Aaa

Cl. 3A-A, Downgraded to B3 from Aaa; Placed Under Review for further Possible Downgrade

Cl. 3B-A2, Downgraded to Aa3 from Aaa

Cl. 3B-A3, Downgraded to B3 from Aaa; Placed Under Review for further Possible Downgrade

Cl. 4A-A1, Downgraded to A1 from Aaa

Cl. 4A-A3, Downgraded to A2 from Aaa

Cl. 4A-A4, Downgraded to B3 from Aaa; Placed Under Review for further Possible Downgrade

Cl. 4B-A1, Downgraded to A1 from Aaa

Cl. 4B-A2, Downgraded to B3 from Aaa; Placed Under Review for further Possible Downgrade

Cl. 4A-AIO, Confirmed at Aaa

Cl. 4B-AIO, Downgraded to A1 from Aaa

Cl. 1-M1, Downgraded to Ca from B2

Cl. 1-M2, Downgraded to Ca from B3

Cl. 1-M3, Downgraded to C from B3

Cl. 1-M4, Downgraded to C from B3

Cl. 1-M5, Downgraded to C from Ca

Cl. 1-M6, Downgraded to C from Ca

Cl. 1-M7, Downgraded to C from Ca

Cl. 2-M1, Downgraded to Caa2 from B2

Cl. 2-M2, Downgraded to Ca from B2

Cl. 2-M3, Downgraded to Ca from B3

Cl. 2-M4, Downgraded to Ca from B3

Cl. 2-M5, Downgraded to C from Ca

Cl. 2-M6, Downgraded to C from Ca

Cl. 2-M7, Downgraded to C from Ca

Cl. 2-M8, Downgraded to C from Ca

Cl. 2-M9, Downgraded to C from Ca

Cl. 3-M1, Downgraded to Caa1 from B1

Cl. 3-M2, Downgraded to Caa2 from B2

Cl. 3-M3, Downgraded to Ca from B3

Cl. 3-M4, Downgraded to C from Ca

Cl. 3-M5, Downgraded to C from Ca

Cl. 4-M1, Downgraded to Caa1 from B1

Cl. 4-M2, Downgraded to Caa2 from B2

Cl. 4-M3, Downgraded to Ca from B3

Cl. 4-M4, Downgraded to C from B3

Cl. 4-M5, Downgraded to C from Ca

Cl. 4-M6, Downgraded to C from Ca

Issuer: Lehman XS Trust Series 2005-10

Cl. 1-A1, Downgraded to Ba1 from Aaa

Cl. 1-A3, Downgraded to Aa2 from Aaa

Cl. 1-A4, Downgraded to A1 from Aaa

Cl. I-A5, Downgraded to Ba2 from Aaa

Financial Guarantor: CIFG (Ba2)

Underlying Rating: Ba2

Cl. 2-A2, Downgraded to Aa2 from Aaa

Cl. 2-A3A, Downgraded to Aa2 from Aaa

Cl. 2-A3B, Downgraded to Aa2 from Aaa

Cl. 2-A4B, Downgraded to A1 from Aaa

Cl. 2-A5B, Downgraded to A1 from Aaa

Cl. 1-M1, Downgraded to Ca from B3

Cl. 1-M2, Downgraded to C from Caa1

Cl. 1-M3, Downgraded to C from Caa1

Cl. 1-M4, Downgraded to C from Ca

Cl. 2-M1, Downgraded to Baa1 from Aa3

Cl. 2-M2, Downgraded to Baa3 from A1

Cl. 2-M3, Downgraded to B3 from Baa3

Cl. 2-M4, Downgraded to Ca from B3

Cl. 2-M5, Downgraded to C from Ca

Issuer: Lehman XS Trust Series 2005-2

Cl. 2-A3A, Downgraded to Aa2 from Aaa

Financial Guarantor: MBIA Insurance Corporation (A2, negative outlook)

Underlying Rating: Aa2

Cl. 2-A3B, Downgraded to Aa2 from Aaa

Cl. 2-A4, Downgraded to Aa2 from Aaa

Cl. 1-M1, Downgraded to A2 from Aa2

Cl. 1-M2, Downgraded to B3 from Baa3

Cl. 1-M3, Downgraded to C from Caa1

Cl. 2-M1, Downgraded to Ba2 from Baa2

Issuer: Lehman XS Trust Series 2005-4

Cl. 1-A4, Downgraded to Aa1 from Aaa

Financial Guarantor: Ambac Assurance Corporation (Aa3, negative outlook)

Underlying Rating: Aa1

Cl. 2-A2, Downgraded to A1 from Aaa

Cl. 2-A3A, Downgraded to A1 from Aaa

Cl. 2-A3B, Downgraded to A1 from Aaa

Cl. 2-A4, Downgraded to Aa3 from Aaa

Financial Guarantor: Ambac Assurance Corporation (Aa3, negative outlook)

Underlying Rating: A1

Cl. 2-A5A, Downgraded to Aa1 from Aaa

Cl. 2-A5B, Downgraded to A2 from Aaa

Cl. 1-M1, Downgraded to Ba1 from A1

Cl. 1-M2, Downgraded to Ca from B3

Cl. 1-M3, Downgraded to C from Caa2

Cl. 2-M1, Downgraded to B3 from A3

Cl. 2-M2, Downgraded to Caa3 from B2

Cl. 2-M3, Downgraded to C from Caa1

Issuer: Lehman XS Trust Series 2005-8

Cl. 1-A3, Downgraded to Aa3 from Aaa

Cl. 1-A4, Downgraded to Ba1 from Aaa

Financial Guarantor: CIFG (Ba2)

Underlying Rating: Ba1

Cl. 2-A1B, Downgraded to Aa2 from Aaa

Cl. 2-A2, Downgraded to Aa2 from Aaa

Cl. 2-A3, Downgraded to Aa3 from Aaa

Financial Guarantor: CIFG (Ba2)

Underlying Rating: Aa3

Cl. 2-A4B, Downgraded to A1 from Aaa

Cl. 1-M1, Downgraded to Caa2 from B3

Cl. 1-M2, Downgraded to C from B3

Cl. 1-M3, Downgraded to C from Caa1

Cl. 1-M4, Downgraded to C from Ca

Cl. 1-M5, Downgraded to C from Ca

Cl. 2-M1, Downgraded to Baa3 from A1

Cl. 2-M2, Downgraded to Ba2 from A3

Cl. 2-M3, Downgraded to B3 from Ba2

Cl. 2-M4, Downgraded to Caa3 from B2

Cl. 2-M5, Downgraded to Ca from B3

Cl. 2-M6, Downgraded to C from Caa1

Issuer: Lehman XS Trust Series 2006-11

Cl. 1-A2, Downgraded to Aa2 from Aaa

Cl. 1-A3, Downgraded to Aa2 from Aaa

Cl. 1-A4, Downgraded to Ba3 from Aaa

Cl. 2-A1, Downgraded to Baa3 from Aaa

Cl. 2-A2, Downgraded to Ba1 from Aaa

Cl. 2-A3, Downgraded to Ba1 from Aaa

Cl. 2-A4, Downgraded to Ba2 from Aaa

Cl. M1, Downgraded to B3 from B2; Placed Under Review for further Possible Downgrade

Cl. M2, Downgraded to B3 from B2; Placed Under Review for further Possible Downgrade

Cl. M3, Downgraded to Caa1 from B3

Cl. M4, Downgraded to Caa2 from B3

Cl. M5, Downgraded to Ca from B3

Cl. M6, Downgraded to Ca from B3

Cl. M7, Downgraded to C from Caa1

Cl. M8, Downgraded to C from Ca

Cl. M9, Downgraded to C from Ca

Issuer: Lehman XS Trust Series 2006-13

Cl. 1-A1, Confirmed at Aaa

Cl. 1-A2, Downgraded to Aa2 from Aaa

Cl. 1-A3, Downgraded to Aa3 from Aaa

Cl. 1-A4, Downgraded to Aa2 from Aaa

Cl. 1-A5, Downgraded to B2 from Aaa

Cl. 2-A1, Downgraded to Ba2 from Aaa

Cl. 1-M1, Downgraded to Caa1 from B3

Cl. 1-M2, Downgraded to Ca from B3

Cl. 1-M3, Downgraded to Ca from B3

Cl. 1-M4, Downgraded to Ca from Caa1

Cl. 1-M5, Downgraded to C from Caa1

Cl. 1-M6, Downgraded to C from Caa1

Cl. 1-M7, Downgraded to C from Caa1

Cl. 1-M8, Downgraded to C from Ca

Cl. 1-M9, Downgraded to C from Ca

Cl. 2-M1, Downgraded to B3 from Ba1; Placed Under Review for further Possible Downgrade

Cl. 2-M2, Downgraded to Caa3 from B1

Cl. 2-M3, Downgraded to Ca from B2

Cl. 2-M4, Downgraded to C from Ca

Cl. 2-M5, Downgraded to C from Ca

Issuer: Lehman XS Trust Series 2006-15

Cl. A1, Downgraded to Aa1 from Aaa

Cl. A2, Downgraded to Aa2 from Aaa

Cl. A3, Downgraded to Aa2 from Aaa

Cl. A4, Downgraded to Aa1 from Aaa

Cl. A5, Downgraded to B2 from Aaa

Cl. M1, Downgraded to Caa1 from B3

Cl. M2, Downgraded to Caa3 from B3

Cl. M3, Downgraded to Ca from B3

Cl. M4, Downgraded to Ca from B3

Cl. M5, Downgraded to C from B3

Cl. M6, Downgraded to C from Caa1

Cl. M7, Downgraded to C from Caa1

Cl. M8, Downgraded to C from Ca

Cl. M9, Downgraded to C from Ca

Issuer: Lehman XS Trust Series 2006-20

Cl. A1, Downgraded to A1 from Aaa

Cl. A2, Downgraded to A3 from Aaa

Cl. A3, Downgraded to Baa1 from Aaa

Cl. A4, Downgraded to A3 from Aaa

Cl. A5, Downgraded to B3 from Aaa; Placed Under Review for further Possible Downgrade

Cl. AIO, Downgraded to A1 from Aaa

Cl. M1, Downgraded to Ca from B3

Cl. M2, Downgraded to Ca from B3

Cl. M3, Downgraded to C from B3

Cl. M4, Downgraded to C from Caa1

Cl. M5, Downgraded to C from Caa1

Cl. M6, Downgraded to C from Caa1

Cl. M7, Downgraded to C from Ca

Cl. M8, Downgraded to C from Ca

Cl. M9, Downgraded to C from Ca

Issuer: Lehman XS Trust Series 2006-5

Cl. 1-A1A, Downgraded to Aa1 from Aaa

Cl. 1-A1B, Downgraded to Baa3 from Aaa

Cl. 2-A1, Downgraded to Aa1 from Aaa

Cl. 2-A2, Downgraded to Baa1 from Aaa

Cl. 2-A3, Downgraded to Baa2 from Aaa

Cl. 2-A4B, Downgraded to Baa3 from Aaa

Cl. M1, Downgraded to B2 from A3; Placed Under Review for further Possible Downgrade

Cl. M2, Downgraded to B3 from Ba3; Placed Under Review for further Possible Downgrade

Cl. M3, Downgraded to Caa1 from B2

Cl. M4, Downgraded to Ca from B3

Cl. M5, Downgraded to Ca from B3

Cl. M6, Downgraded to C from B3

Cl. M7, Downgraded to C from Caa1

Cl. M8, Downgraded to C from Ca

Cl. M9, Downgraded to C from Ca

Issuer: Lehman XS Trust Series 2006-7

Cl. 1-A1A, Downgraded to Aa2 from Aaa

Cl. 1-A1B, Downgraded to Ba2 from Aaa

Cl. 2-A2, Downgraded to Ba1 from Aaa

Cl. 2-A3A, Downgraded to Aa2 from Aaa

Cl. 2-A3B, Downgraded to Ba2 from Aaa

Cl. M1, Downgraded to B3 from Ba2; Placed Under Review for further Possible Downgrade

Cl. M2, Downgraded to Caa2 from B3

Cl. M3, Downgraded to Ca from B3

Cl. M4, Downgraded to C from B3

Cl. M5, Downgraded to C from B3

Cl. M6, Downgraded to C from Caa1

Cl. M7, Downgraded to C from Ca

Cl. M8, Downgraded to C from Ca

Cl. M9, Downgraded to C from Ca

Issuer: Lehman XS Trust Series 2006-8

Cl. 1-A1B, Downgraded to A1 from Aaa

Cl. 2-A1, Downgraded to Aa3 from Aaa

Cl. 2-A3, Downgraded to Aa3 from Aaa

Cl. 2-A4A, Confirmed at Aaa

Cl. 2-A4B, Downgraded to A1 from Aaa

Cl. 3-A1A, Downgraded to Aa1 from Aaa

Cl. 3-A1B, Downgraded to Aa1 from Aaa

Cl. 3-A2, Downgraded to Aa2 from Aaa

Cl. 3-A3, Downgraded to Aa3 from Aaa

Cl. 3-A4, Downgraded to Aa3 from Aaa

Cl. 3-A5, Downgraded to A1 from Aaa

Cl. M1, Downgraded to Baa2 from A3

Cl. M2, Downgraded to Ba3 from Baa3

Cl. M3, Downgraded to B3 from Ba3; Placed Under Review for further Possible Downgrade

Cl. M4, Downgraded to B3 from B2; Placed Under Review for further Possible Downgrade

Cl. M5, Downgraded to Caa1 from B2

Cl. M6, Downgraded to Ca from B3

Cl. M7, Downgraded to Ca from B3

Cl. M8, Downgraded to C from Ca

Cl. M9, Downgraded to C from Ca

Issuer: Lehman XS Trust Series 2006-9

Cl. A1B, Downgraded to Aa3 from Aaa

Cl. A1C, Downgraded to Aa3 from Aaa

Cl. A2, Downgraded to Ba3 from Aaa

Cl. M1, Downgraded to B3 from B2; Placed Under Review for further Possible Downgrade

Cl. M2, Downgraded to Caa3 from B3

Cl. M3, Downgraded to Ca from B3

Cl. M4, Downgraded to Ca from B3

Cl. M5, Downgraded to C from Caa1

Cl. M6, Downgraded to C from Caa1

Cl. M7, Downgraded to C from Ca

Cl. M8, Downgraded to C from Ca

Cl. M9, Downgraded to C from Ca

Issuer: Lehman XS Trust Series 2007-1

Cl. 1-A1, Downgraded to A1 from Aaa

Cl. 1-A2, Downgraded to Ba1 from Aaa

Cl. 1-A3, Downgraded to Ba1 from Aaa

Cl. 1-A4, Downgraded to Ba1 from Aaa

Cl. 1-A5, Downgraded to Caa1 from Aaa

Cl. 2-A1, Downgraded to B3 from Aaa; Placed Under Review for further Possible Downgrade

Cl. WF-1, Downgraded to Baa2 from Aaa

Cl. WF-M1, Downgraded to Ba3 from Baa3

Cl. WF-M2, Downgraded to B3 from B1; Placed Under Review for further Possible Downgrade

Cl. WF-M3, Downgraded to Caa1 from B1

Cl. WF-M4, Downgraded to Ca from B3

Cl. WF-M5, Downgraded to C from Ca

Cl. WF-M6, Downgraded to C from Ca

Cl. WF-M7, Downgraded to C from Ca

Cl. M1, Downgraded to Caa2 from B3

Cl. M2, Downgraded to Ca from B3

Cl. M3, Downgraded to C from B3

Cl. M4, Downgraded to C from Ca

Cl. M5, Downgraded to C from Ca

Cl. M6, Downgraded to C from Ca

Issuer: Lehman XS Trust Series 2007-11

Cl. A1, Downgraded to B2 from Aaa

Cl. A2, Downgraded to B2 from Aaa

Cl. A3, Downgraded to A1 from Aaa

Cl. A4, Downgraded to B3 from Aaa; Placed Under Review for further Possible Downgrade

Cl. A5, Downgraded to Caa1 from Aaa; Placed Under Review for further Possible Downgrade

Cl. AIO, Downgraded to A1 from Aaa

Cl. M1, Downgraded to Ca from B1

Cl. M2, Downgraded to C from B1

Cl. M3, Downgraded to C from B2

Cl. M4, Downgraded to C from B3

Cl. M5, Downgraded to C from B3

Cl. M6, Downgraded to C from B3

Cl. M7, Downgraded to C from B3

Cl. M8, Downgraded to C from Caa1

Cl. M9, Downgraded to C from Caa1

Cl. M10, Downgraded to C from Ca

Cl. M11, Downgraded to C from Ca

Issuer: Lehman XS Trust Series 2007-14H

Cl. A1-1, Downgraded to Ba2 from Aaa

Cl. A1-2, Downgraded to Ba2 from Aaa

Cl. A2-1-1, Downgraded to Aa1 from Aaa

Cl. A2-1-2, Downgraded to Ba3 from Aaa

Cl. A2-2, Downgraded to Aa3 from Aaa

Financial Guarantor: Ambac Assurance Corporation (Aa3, negative outlook)

Underlying Rating: Ba2

Cl. A3, Downgraded to B3 from Aaa; Placed Under Review for further Possible Downgrade

Cl. A4, Downgraded to Aa3 from Aaa

Financial Guarantor: Ambac Assurance Corporation (Aa3, negative outlook)

Underlying Rating: Caa1

Cl. AIO, Downgraded to Aa1 from Aaa

Cl. M1, Downgraded to Caa2 from B1

Cl. M2, Downgraded to Caa3 from B1

Cl. M3, Downgraded to Ca from B2

Cl. M4, Downgraded to Ca from B2

Cl. M5, Downgraded to C from B3

Cl. M6, Downgraded to C from B3

Cl. M7, Downgraded to C from B3

Cl. M8, Downgraded to C from B3

Cl. M9, Downgraded to C from Caa1

Issuer: Lehman XS Trust Series 2007-5H

Cl. 1-A1, Downgraded to A1 from Aaa

Cl. 2-A1, Downgraded to Aa1 from Aaa

Cl. 1-A2, Downgraded to B3 from Aaa; Placed Under Review for further Possible Downgrade

Cl. 1-APO, Downgraded to B2 from Aaa; Placed Under Review for further Possible Downgrade

Cl. 1-AIO, Downgraded to A1 from Aaa

Cl. 2-A2, Downgraded to B3 from Aaa; Placed Under Review for further Possible Downgrade

Cl. 3-A2, Downgraded to Caa3 from Aaa; Placed Under Review for further Possible Downgrade

Cl. 3-A3, Downgraded to B3 from Aaa; Placed Under Review for further Possible Downgrade

Cl. 3-A4, Downgraded to B3 from Aaa; Placed Under Review for further Possible Downgrade

Cl. 3-A5, Downgraded to B3 from Aaa; Placed Under Review for further Possible Downgrade

Cl. 3-AIO1, Downgraded to B3 from Aaa; Placed Under Review for further Possible Downgrade

Cl. 3-AIO2, Downgraded to B3 from Aaa; Placed Under Review for further Possible Downgrade

Cl. I-M1, Downgraded to Ca from Aa2

Cl. II-M1, Downgraded to C from Aa2

Issuer: Lehman XS Trust Series 2007-8H

Cl. A1, Downgraded to Ba2 from Aaa

Cl. A2, Downgraded to Ba3 from Aaa

Cl. A3, Downgraded to Aa3 from Aaa

Cl. A4, Downgraded to B1 from Aaa

Cl. A5, Downgraded to Caa1 from Aaa

Cl. AIO, Downgraded to Aa3 from Aaa

Cl. M1, Downgraded to Caa2 from B1

Cl. M2, Downgraded to Ca from B2

Cl. M3, Downgraded to Ca from B2

Cl. M4, Downgraded to C from B3

Cl. M5, Downgraded to C from B3

Cl. M6, Downgraded to C from B3

Cl. M7, Downgraded to C from Caa1

Cl. M8, Downgraded to C from Caa1

Issuer: Lehman XS Trust Series 2007-9

Cl. I-A1, Downgraded to B1 from Aaa

Cl. I-A2, Downgraded to B2 from Aaa

Cl. I-A3, Downgraded to B2 from Aaa

Cl. I-A4, Downgraded to Caa1 from Aaa; Placed Under Review for further Possible Downgrade

Cl. I-AIO, Downgraded to B1 from Aaa

Cl. WF-M1, Downgraded to Aa3 from Aa1

Cl. WF-M2, Downgraded to Ba2 from A2

Cl. WF-M3, Downgraded to B1 from A3; Placed Under Review for further Possible Downgrade

Cl. WF-M4, Downgraded to B2 from Baa2; Placed Under Review for further Possible Downgrade

Cl. WF-M5, Downgraded to B3 from Ba3; Placed Under Review for further Possible Downgrade

Cl. WF-M6, Downgraded to B3 from B1; Placed Under Review for further Possible Downgrade

Cl. WF-M7, Downgraded to B3 from B1; Placed Under Review for further Possible Downgrade

Cl. WF-M8, Downgraded to Caa1 from B1

Cl. WF-M9, Downgraded to Ca from B2

Cl. I-M1, Downgraded to Ca from B2

Cl. I-M2, Downgraded to C from B3

Cl. I-M3, Downgraded to C from B3

Cl. I-M4, Downgraded to C from Ca

Cl. I-M5, Downgraded to C from Ca

Cl. I-M6, Downgraded to C from Ca

Cl. I-M7, Downgraded to C from Ca

Cl. I-M8, Downgraded to C from Ca

Cl. I-M9, Downgraded to C from Ca

A list of these actions including CUSIP identifiers may be found at:

Excel: http://www.moodys.com/cust/getdocumentByNotesDocId.asp?criteria=PBS_SF141452

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

No Related Data.
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