Moody's Takes Action on Certain RAST Alt-A deals
New York, August 14, 2008 -- Moody's Investors Service has downgraded the ratings of 140 tranches from
11 Alt-A transactions issued by Residential Asset Securitization
Trust. Two tranches that were downgraded are still on review for
possible further downgrade. Additionally, 9 senior tranches
were confirmed at Aaa. The collateral backing these transactions
consists primarily of first-lien, fixed-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.
The actions described below are a result of Moody's on-going review
process.
Complete rating actions are as follows:
Issuer: Residential Asset Securitization Trust 2005-A12
Cl. A-5, Downgraded to Aa2 from Aa1
Cl. A-6, Downgraded to Aa1 from Aaa
Cl. A-7, Confirmed at Aaa
Cl. A-8, Downgraded to Aa1 from Aaa
Cl. A-9, Downgraded to Aa1 from Aaa
Cl. A-X, Confirmed at Aaa
Cl. PO, Downgraded to Aa1 from Aaa
Cl. B-1, Downgraded to Baa1 from A3
Cl. B-5, Downgraded to Caa2 from B3
Issuer: Residential Asset Securitization Trust 2005-A15
Cl. 1-A-1, Downgraded to A2 from Aaa
Cl. 1-A-2, Downgraded to Aa3 from Aaa
Cl. 1-A-3, Downgraded to A2 from Aaa
Cl. 1-A-4, Downgraded to Aa3 from Aaa
Cl. 1-A-5, Downgraded to Aa1 from Aaa
Cl. 1-A-6, Downgraded to Aa1 from Aaa
Cl. 1-A-7, Downgraded to A2 from Aaa
Cl. 1-A-8, Downgraded to A2 from Aaa
Cl. 1-A-9, Downgraded to A3 from Aa1
Cl. 1-A-X, Downgraded to Aa1 from Aaa
Cl. PO, Downgraded to A2 from Aaa
Cl. 2-A-1, Downgraded to A1 from Aaa
Cl. 2-A-2, Downgraded to A1 from Aaa
Cl. 2-A-3, Downgraded to A2 from Aaa
Cl. 2-A-4, Downgraded to Aa3 from Aaa
Cl. 2-A-5, Downgraded to A2 from Aaa
Cl. 2-A-6, Downgraded to A2 from Aaa
Cl. 2-A-7, Downgraded to A2 from Aaa
Cl. 2-A-8, Downgraded to Aa3 from Aaa
Cl. 2-A-9, Downgraded to A2 from Aaa
Cl. 2-A-10, Downgraded to Aa1 from Aaa
Cl. 2-A-11, Downgraded to Aa1 from Aaa
Cl. 2-A-12, Downgraded to A2 from Aaa
Cl. 2-A-13, Downgraded to A3 from Aa1
Cl. 2-A-X, Downgraded to A2 from Aaa
Cl. 3-A-1, Downgraded to A2 from Aaa
Cl. 4-A-1, Downgraded to A2 from Aaa
Cl. 5-A-1, Downgraded to A2 from Aaa
Cl. 5-A-2, Downgraded to A2 from Aaa
Cl. 5-A-3, Downgraded to A2 from Aaa
Cl. B-1, Downgraded to B1 from Ba1
Cl. B-2, Downgraded to Caa1 from B2
Issuer: Residential Asset Securitization Trust 2006-A11
Cl. 1-A-1, Downgraded to Ba3 from Aaa
Cl. 1-A-3, Downgraded to Ba3 from Aaa
Cl. 1-A-4, Downgraded to Ba3 from Aaa
Cl. 1-A-5, Downgraded to Ba3 from Aaa
Cl. 1-A-6, Downgraded to B1 from Aa1
Cl. 1-A-7, Downgraded to Ba3 from Aaa
Cl. 1-A-X, Confirmed at Aaa
Cl. 1-PO, Downgraded to Ba3 from Aaa
Cl. 2-A-1, Downgraded to Ba3 from Aaa
Cl. 2-A-2, Downgraded to Ba2 from Aaa
Cl. 2-A-3, Downgraded to Ba2 from Aaa
Cl. 3-A-1, Downgraded to Ba3 from Aaa
Issuer: Residential Asset Securitization Trust 2006-A14CB
Cl. 1-A-2, Downgraded to Baa3 from Aaa
Cl. 1-A-3, Downgraded to Baa3 from Aaa
Cl. 1-A-4, Downgraded to Ba1 from Aa1
Cl. PO, Downgraded to Baa3 from Aaa
Cl. 2-A-2, Downgraded to Aa3 from Aaa
Cl. 2-A-3, Downgraded to Baa3 from Aaa
Cl. 2-A-4, Downgraded to A1 from Aaa
Cl. 2-A-5, Downgraded to Ba1 from Aa1
Cl. 2-A-6, Downgraded to Baa3 from Aaa
Cl. 2-A-7, Downgraded to Baa3 from Aaa
Cl. A-X, Confirmed at Aaa
Issuer: Residential Asset Securitization Trust 2006-A3CB
Cl. A-1, Downgraded to Baa1 from Aaa
Cl. A-X, Downgraded to Baa1 from Aaa
Cl. PO, Downgraded to Baa1 from Aaa
Issuer: Residential Asset Securitization Trust 2006-A4IP
Cl. 1-A-1, Downgraded to Ba1 from Aaa
Cl. 2-A-1, Downgraded to Ba1 from Aaa
Cl. 2-A-2, Downgraded to Ba1 from Aaa
Cl. 2-A-3, Downgraded to Ba1 from Aaa
Cl. 2-A-4, Downgraded to Ba1 from Aaa
Cl. 2-A-5, Downgraded to Ba1 from Aaa
Cl. 2-A-6, Downgraded to Ba1 from Aaa
Cl. 2-A-7, Downgraded to Ba1 from Aaa
Cl. 2-A-8, Downgraded to Ba1 from Aaa
Cl. 2-A-9, Downgraded to Ba1 from Aaa
Cl. 2-A-10, Downgraded to A3 from Aaa
Cl. 2-PO, Downgraded to Ba1 from Aaa
Cl. 2-A-X, Downgraded to A3 from Aaa
Issuer: Residential Asset Securitization Trust 2006-A5CB
Cl. A-1, Downgraded to Baa3 from Aaa
Cl. A-3, Downgraded to Baa3 from Aaa
Cl. A-4, Downgraded to Baa3 from Aaa
Cl. A-6, Downgraded to Baa3 from Aaa
Cl. A-X, Confirmed at Aaa
Cl. PO, Downgraded to Baa3 from Aaa
Cl. A-5, Downgraded to Ba1 from Aa1
Cl. B-1, Downgraded to B3 from B2; Placed Under
Review for further Possible Downgrade
Cl. B-2, Downgraded to Ca from Caa3
Cl. B-3, Downgraded to C from Ca
Issuer: Residential Asset Securitization Trust 2006-A7CB
Cl. 1-A-1, Downgraded to A2 from Aaa
Cl. 1-A-2, Downgraded to A2 from Aaa
Cl. 1-A-3, Downgraded to A3 from Aaa
Cl. 1-A-4, Downgraded to A3 from Aaa
Cl. 1-A-5, Downgraded to A3 from Aaa
Cl. 1-A-6, Downgraded to A3 from Aaa
Cl. A-X, Confirmed at Aaa
Cl. PO, Downgraded to A3 from Aaa
Cl. 2-A-1, Downgraded to A3 from Aaa
Cl. 2-A-4, Downgraded to Baa1 from Aaa
Cl. 2-A-5, Downgraded to A3 from Aaa
Cl. 2-A-6, Downgraded to A3 from Aaa
Cl. 2-A-7, Downgraded to A3 from Aaa
Cl. 3-A-2, Downgraded to Baa1 from Aaa
Cl. B-1, Downgraded to B1 from Ba2
Cl. B-3, Downgraded to C from Ca
Issuer: Residential Asset Securitization Trust 2006-A8
Cl. 1-A-1, Downgraded to Baa1 from Aaa
Cl. 1-A-2, Downgraded to Baa1 from Aaa
Cl. 1-A-3, Downgraded to Baa1 from Aaa
Cl. 1-A-4, Downgraded to Baa1 from Aaa
Cl. 1-A-5, Downgraded to Baa1 from Aaa
Cl. A-X, Confirmed at Aaa
Cl. PO, Downgraded to Baa1 from Aaa
Cl. 2-A-1, Downgraded to Baa1 from Aaa
Cl. 2-A-2, Downgraded to Baa1 from Aaa
Cl. 2-A-3, Downgraded to Baa1 from Aaa
Cl. 2-A-4, Downgraded to Baa1 from Aaa
Cl. 2-A-7, Downgraded to Baa1 from Aaa
Cl. 2-A-8, Downgraded to Baa2 from Aa1
Cl. 3-A-1, Downgraded to Baa1 from Aaa
Cl. 3-A-2, Downgraded to Baa1 from Aaa
Cl. 3-A-3, Downgraded to Baa1 from Aaa
Cl. 3-A-4, Downgraded to Baa1 from Aaa
Cl. 3-A-5, Downgraded to Baa1 from Aaa
Cl. 3-A-7, Downgraded to Baa1 from Aaa
Cl. 3-A-8, Downgraded to Baa1 from Aaa
Cl. 3-A-9, Downgraded to Baa1 from Aaa
Cl. 3-A-10, Downgraded to Baa1 from Aaa
Cl. 3-A-11, Downgraded to Baa1 from Aaa
Cl. B-2, Downgraded to B3 from B2; Placed Under
Review for further Possible Downgrade
Cl. B-3, Downgraded to Ca from B3
Cl. B-5, Downgraded to C from Ca
Cl. B-6, Downgraded to C from Ca
Cl. B-7, Downgraded to C from Ca
Issuer: Residential Asset Securitization Trust 2006-A9CB
Cl. A-2, Downgraded to A3 from Aaa
Cl. A-3, Confirmed at Aaa
Cl. A-4, Downgraded to A2 from Aaa
Cl. A-5, Downgraded to A1 from Aaa
Cl. A-6, Downgraded to A2 from Aaa
Cl. A-7, Downgraded to A2 from Aaa
Cl. A-8, Downgraded to A2 from Aaa
Cl. A-9, Downgraded to A2 from Aaa
Cl. A-10, Downgraded to A2 from Aaa
Cl. A-11, Downgraded to A2 from Aaa
Cl. A-12, Downgraded to A2 from Aaa
Cl. A-X, Confirmed at Aaa
Cl. PO, Downgraded to A2 from Aaa
Cl. B-3, Downgraded to C from Ca
Issuer: Residential Asset Securitization Trust 2007-A1
Cl. A-2, Downgraded to Baa3 from Aa1
A list of these actions including CUSIP identifiers may be found at:
Excel:
http://www.moodys.com/cust/getdocumentByNotesDocId.asp?criteria=PBS_SF139778
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
Ola Hannoun-Costa
Associate Analyst
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653