Moody's Takes Rating Action on Certain Morgan Stanley Alt-A deals
New York, April 18, 2008 -- Moody's Investors Service has downgraded the ratings of 241 tranches from
26 Alt-A transactions issued by Morgan Stanley. One hundred
nineteen tranches remain on review for possible further downgrade.
Additionally, 111 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:
Morgan Stanley Mortgage Loan Trust 2005-11AR
Cl. A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. X, Placed on Review for Possible Downgrade, currently
Aaa
Cl. M-1, Downgraded to Baa1 from Aa1
Cl. M-2, Downgraded to B2 from Aa2
Cl. M-3, Downgraded to B2 from Aa3; Placed Under
Review for further Possible Downgrade
Cl. M-4, Downgraded to B3 from A3; Placed Under
Review for further Possible Downgrade
Cl. M-5, Downgraded to B3 from Baa3; Placed Under
Review for further Possible Downgrade
Cl. M-6, Downgraded to Ca from Ba1
Cl. B-1, Downgraded to Ca from B2
Cl. B-2, Downgraded to Ca from B3
Cl. B-3, Downgraded to Ca from B3
Morgan Stanley Mortgage Loan Trust 2005-5AR
Cl. 1-M-1, Downgraded to Aa2 from Aa1
Cl. 1-M-2, Downgraded to A1 from Aa2
Cl. 1-M-3, Downgraded to Baa1 from Aa3
Cl. 1-M-4, Downgraded to Ba1 from A1
Cl. 1-M-5, Downgraded to B1 from A2
Cl. 1-M-6, Downgraded to B3 from A3; Placed
Under Review for further Possible Downgrade
Cl. 1-B-1, Downgraded to B3 from Baa1;
Placed Under Review for further Possible Downgrade
Cl. 1-B-2, Downgraded to B3 from Baa2;
Placed Under Review for further Possible Downgrade
Cl. 1-B-3, Downgraded to Caa1 from Baa3;
Placed Under Review for further Possible Downgrade
Cl. B-1, Downgraded to A1 from Aa2
Cl. B-2, Downgraded to Ba2 from A2
Cl. B-3, Downgraded to B2 from Baa2; Placed Under
Review for further Possible Downgrade
Morgan Stanley Mortgage Loan Trust 2005-6AR
Cl. 1-A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-M-1, Downgraded to Aa3 from Aa1
Cl. 1-M-2, Downgraded to Baa1 from Aa2
Cl. 1-M-3, Downgraded to Baa3 from Aa3
Cl. 1-M-4, Downgraded to Ba3 from A2
Cl. 1-M-5, Downgraded to B3 from Baa1
Cl. 1-M-6, Downgraded to B3 from Baa2;
Placed Under Review for further Possible Downgrade
Cl. 1-B-1, Downgraded to B3 from Baa3;
Placed Under Review for further Possible Downgrade
Cl. 1-B-2, Downgraded to Ca from Ba1
Cl. 1-B-3, Downgraded to Ca from B2
Morgan Stanley Mortgage Loan Trust 2005-9AR
Cl. 1-A, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-X, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3-A-2, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 1-B-1, Downgraded to Baa3 from Aa2
Cl. 1-B-2, Downgraded to B3 from A2; Placed
Under Review for further Possible Downgrade
Cl. 1-B-3, Downgraded to Ca from Ba1
Cl. B-1, Downgraded to Baa3 from Aa2
Cl. B-2, Downgraded to B2 from A2; Placed Under
Review for further Possible Downgrade
Cl. B-3, Downgraded to Ca from Ba1
Morgan Stanley Mortgage Loan Trust 2006-11
Cl. 1-A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A-5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A-6, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-M-1, Downgraded to B2 from Aa1
Cl. 1-M-2, Downgraded to B3 from Aa2;
Placed Under Review for further Possible Downgrade
Cl. 1-M-3, Downgraded to B3 from Aa3;
Placed Under Review for further Possible Downgrade
Cl. 1-M-4, Downgraded to B3 from A3; Placed
Under Review for further Possible Downgrade
Cl. 1-M-5, Downgraded to Caa1 from Baa1;
Placed Under Review for further Possible Downgrade
Cl. 1-M-6, Downgraded to Caa1 from Baa2;
Placed Under Review for further Possible Downgrade
Cl. 1-B-1, Downgraded to Ca from Ba1
Cl. 1-B-2, Downgraded to Ca from Ba2
Cl. 1-B-3, Downgraded to Ca from B1
Cl. 2-A-P, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-4, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 3-A-P, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3-A-4, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 4-A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4-A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. B-1, Downgraded to Ba2 from Aa2
Cl. B-2, Downgraded to B2 from A2; Placed Under
Review for further Possible Downgrade
Cl. B-3, Downgraded to B3 from Baa2; Placed Under
Review for further Possible Downgrade
Morgan Stanley Mortgage Loan Trust 2006-12XS
Cl. A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-2B, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-5B, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-6B, Placed on Review for Possible Downgrade,
currently Aaa
Cl. M-1, Downgraded to Baa1 from Aa1
Cl. M-2, Downgraded to B2 from Aa2
Cl. M-3, Downgraded to B2 from Aa3; Placed Under
Review for further Possible Downgrade
Cl. M-4, Downgraded to B2 from A1; Placed Under
Review for further Possible Downgrade
Cl. M-5, Downgraded to B3 from A2; Placed Under
Review for further Possible Downgrade
Cl. M-6, Downgraded to B3 from A3; Placed Under
Review for further Possible Downgrade
Cl. B-1, Downgraded to B3 from Baa1; Placed Under
Review for further Possible Downgrade
Cl. B-2, Downgraded to B3 from Baa2; Placed Under
Review for further Possible Downgrade
Cl. B-3, Downgraded to Caa1 from Baa3; Placed
Under Review for further Possible Downgrade
Morgan Stanley Mortgage Loan Trust 2006-13ARX
Cl. A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. M-1, Downgraded to B3 from Aa1; Placed Under
Review for further Possible Downgrade
Cl. M-2, Downgraded to Caa1 from Aa2; Placed
Under Review for further Possible Downgrade
Cl. M-3, Downgraded to Caa1 from Aa3; Placed
Under Review for further Possible Downgrade
Cl. M-4, Downgraded to Caa1 from Baa2; Placed
Under Review for further Possible Downgrade
Cl. M-5, Downgraded to Ca from Ba2
Cl. M-6, Downgraded to Ca from Ba3
Cl. B-1, Downgraded to Ca from B2
Cl. B-2, Downgraded to Ca from Caa1
Morgan Stanley Mortgage Loan Trust 2006-15XS
Cl. A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. M-1, Downgraded to Baa3 from Aa1
Cl. M-2, Downgraded to B1 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. M-3, Downgraded to B2 from Aa3; Placed Under
Review for further Possible Downgrade
Cl. M-4, Downgraded to B2 from A1; Placed Under
Review for further Possible Downgrade
Cl. M-5, Downgraded to B2 from A2; Placed Under
Review for further Possible Downgrade
Cl. M-6, Downgraded to B3 from A3; Placed Under
Review for further Possible Downgrade
Cl. B-1, Downgraded to B3 from Baa1; Placed Under
Review for further Possible Downgrade
Cl. B-2, Downgraded to B3 from Baa2; Placed Under
Review for further Possible Downgrade
Cl. B-3, Downgraded to Caa1 from Baa3; Placed
Under Review for further Possible Downgrade
Morgan Stanley Mortgage Loan Trust 2006-16AX
Cl. 1-A, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3-A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3-A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3-M-1, Downgraded to B3 from Aa2;
Placed Under Review for further Possible Downgrade
Cl. 3-M-2, Downgraded to Caa1 from Baa3;
Placed Under Review for further Possible Downgrade
Cl. 3-B-1, Downgraded to Ca from B2
Cl. 3-B-2, Downgraded to Ca from Caa2
Cl. M-1, Downgraded to B3 from Aa1; Placed Under
Review for further Possible Downgrade
Cl. M-2, Downgraded to B3 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. M-3, Downgraded to B3 from Aa3; Placed Under
Review for further Possible Downgrade
Cl. M-4, Downgraded to Caa1 from A3; Placed Under
Review for further Possible Downgrade
Cl. M-5, Downgraded to Caa1 from Baa1; Placed
Under Review for further Possible Downgrade
Cl. M-6, Downgraded to Caa1 from Baa2; Placed
Under Review for further Possible Downgrade
Cl. B-1, Downgraded to Ca from Ba2
Cl. B-2, Downgraded to Ca from Ba3
Cl. B-3, Downgraded to Ca from B1
Morgan Stanley Mortgage Loan Trust 2006-17XS
Cl. A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-2-B, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-3-B, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-6, Placed on Review for Possible Downgrade,
currently Aaa
Cl. M-1, Downgraded to Ba1 from Aa1
Cl. M-2, Downgraded to B2 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. M-3, Downgraded to B2 from Aa3; Placed Under
Review for further Possible Downgrade
Cl. M-4, Downgraded to B2 from A1; Placed Under
Review for further Possible Downgrade
Cl. M-5, Downgraded to B3 from A2; Placed Under
Review for further Possible Downgrade
Cl. M-6, Downgraded to B3 from A3; Placed Under
Review for further Possible Downgrade
Cl. B-1, Downgraded to B3 from Baa1; Placed Under
Review for further Possible Downgrade
Cl. B-2, Downgraded to B3 from Baa2; Placed Under
Review for further Possible Downgrade
Cl. B-3, Downgraded to B3 from Baa3; Placed Under
Review for further Possible Downgrade
Morgan Stanley Mortgage Loan Trust 2006-1AR
Cl. 1-A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A-3, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 1-A-X, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-M-X, Downgraded to Baa2 from Aa1
Cl. 1-M-1, Downgraded to Baa2 from Aa1
Cl. 1-M-2, Downgraded to B2 from Aa2
Cl. 1-M-3, Downgraded to B3 from Aa3;
Placed Under Review for further Possible Downgrade
Cl. 1-M-4, Downgraded to B3 from Baa1;
Placed Under Review for further Possible Downgrade
Cl. 1-M-5, Downgraded to B3 from Baa3;
Placed Under Review for further Possible Downgrade
Cl. 1-M-6, Downgraded to Ca from Ba1
Cl. 1-B-1, Downgraded to Ca from B2
Cl. 1-B-2, Downgraded to Ca from B3
Cl. 1-B-3, Downgraded to Ca from B3
Cl. 2-A, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3-A, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4-A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4-A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4-A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. B-1, Downgraded to B2 from Aa2
Cl. B-2, Downgraded to Ca from Ba1
Cl. B-3, Downgraded to Ca from B3
Morgan Stanley Mortgage Loan Trust 2006-2
Cl. M-2, Downgraded to Baa3 from Aa3
Cl. M-3, Downgraded to B2 from A2
Cl. M-4, Downgraded to B2 from A3; Placed Under
Review for further Possible Downgrade
Cl. M-5, Downgraded to B3 from Baa2; Placed Under
Review for further Possible Downgrade
Cl. M-6, Downgraded to B3 from Baa3; Placed Under
Review for further Possible Downgrade
Morgan Stanley Mortgage Loan Trust 2006-3AR
Cl. 1-M-1, Downgraded to A2 from Aa1
Cl. 1-M-2, Downgraded to Baa3 from Aa2
Cl. 1-M-3, Downgraded to Ba3 from Aa3
Cl. 1-M-4, Downgraded to B2 from A2
Cl. 1-M-5, Downgraded to B3 from A3; Placed
Under Review for further Possible Downgrade
Cl. 1-M-6, Downgraded to B3 from Baa1;
Placed Under Review for further Possible Downgrade
Cl. 1-M-7, Downgraded to Ca from Ba1
Cl. 1-M-8, Downgraded to Ca from B1
Cl. 1-M-9, Downgraded to Ca from B2
Cl. 1-B-1, Downgraded to Ca from B3
Cl. 2-A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-4, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 3-A-2, Placed on Review for Possible Downgrade,
currently Aa1
Cl. M-1, Downgraded to B1 from Aa2
Cl. M-2, Downgraded to B3 from Aa3; Placed Under
Review for further Possible Downgrade
Cl. M-3, Downgraded to Ca from Ba1
Cl. M-4, Downgraded to Ca from B1
Cl. M-5, Downgraded to Ca from B3
Cl. M-6, Downgraded to Ca from B3
Cl. B-1, Downgraded to Ca from Caa3
Morgan Stanley Mortgage Loan Trust 2006-5AR
Cl. A, Placed on Review for Possible Downgrade, currently
Aaa
Cl. A-X, Placed on Review for Possible Downgrade,
currently Aaa
Cl. M-1, Downgraded to Ba1 from Aa1
Cl. M-2, Downgraded to B2 from Aa2
Cl. M-3, Downgraded to B3 from Aa3; Placed Under
Review for further Possible Downgrade
Cl. M-4, Downgraded to B3 from Baa1; Placed Under
Review for further Possible Downgrade
Cl. M-5, Downgraded to Caa1 from Baa3; Placed
Under Review for further Possible Downgrade
Cl. M-6, Downgraded to Ca from Ba2
Cl. M-7, Downgraded to Ca from B2
Cl. M-8, Downgraded to Ca from B3
Cl. M-9, Downgraded to Ca from B3
Morgan Stanley Mortgage Loan Trust 2006-6AR
Cl. 1-A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A-5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-M-1, Downgraded to B3 from Aa1;
Placed Under Review for further Possible Downgrade
Cl. 1-M-2, Downgraded to Caa1 from Aa2;
Placed Under Review for further Possible Downgrade
Cl. 1-M-3, Downgraded to Caa1 from Aa3;
Placed Under Review for further Possible Downgrade
Cl. 1-M-4, Downgraded to Caa1 from Baa1;
Placed Under Review for further Possible Downgrade
Cl. 1-M-5, Downgraded to Caa1 from Baa3;
Placed Under Review for further Possible Downgrade
Cl. 1-M-6, Downgraded to Ca from Ba3
Cl. 1-B-1, Downgraded to Ca from B3
Cl. 1-B-2, Downgraded to Ca from Caa3
Cl. 2-A, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3-A-3, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 3-A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3-A-5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4-A-2, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 4-A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. B-1, Downgraded to B3 from Aa2
Cl. B-2, Downgraded to B3 from Baa2; Placed Under
Review for further Possible Downgrade
Cl. B-3, Downgraded to Ca from B2
Morgan Stanley Mortgage Loan Trust 2006-7
Cl. 5-M-1, Downgraded to B2 from Aa2
Cl. 5-M-2, Downgraded to B3 from Baa1;
Placed Under Review for further Possible Downgrade
Cl. 5-A-5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 5-B-1, Downgraded to Ca from Ba2
Cl. B-1, Downgraded to A3 from Aa2
Cl. B-2, Downgraded to B3 from A2
Cl. B-3, Downgraded to B3 from Baa2; Placed Under
Review for further Possible Downgrade
Morgan Stanley Mortgage Loan Trust 2006-8AR
Cl. 1-A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A-5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-M-1, Downgraded to B3 from Aa1;
Placed Under Review for further Possible Downgrade
Cl. 1-M-2, Downgraded to B3 from Aa2;
Placed Under Review for further Possible Downgrade
Cl. 1-M-3, Downgraded to Caa1 from Aa3;
Placed Under Review for further Possible Downgrade
Cl. 1-M-4, Downgraded to Caa1 from A3;
Placed Under Review for further Possible Downgrade
Cl. 1-M-5, Downgraded to Caa1 from Baa2;
Placed Under Review for further Possible Downgrade
Cl. 1-M-6, Downgraded to Ca from Ba1
Cl. 1-B-1, Downgraded to Ca from Ba3
Cl. 1-B-2, Downgraded to Ca from B1
Cl. 1-B-3, Downgraded to Ca from Caa2
Cl. 2-A-2, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 3-A, Placed on Review for Possible Downgrade,
currently Aaa
Cl. II-B-1, Downgraded to B3 from Aa2;
Placed Under Review for further Possible Downgrade
Cl. II-B-2, Downgraded to Caa1 from Baa3;
Placed Under Review for further Possible Downgrade
Cl. II-B-3, Downgraded to Ca from B3
Morgan Stanley Mortgage Loan Trust 2006-9AR
Cl. A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-6, Placed on Review for Possible Downgrade,
currently Aaa
Cl. M-1, Downgraded to B3 from Aa1; Placed Under
Review for further Possible Downgrade
Cl. M-2, Downgraded to Caa1 from Aa2; Placed
Under Review for further Possible Downgrade
Cl. M-3, Downgraded to Caa1 from Aa3; Placed
Under Review for further Possible Downgrade
Cl. M-4, Downgraded to Caa1 from Baa1; Placed
Under Review for further Possible Downgrade
Cl. M-5, Downgraded to Ca from Ba1
Cl. M-6, Downgraded to Ca from Ba2
Cl. B-1, Downgraded to Ca from B2
Cl. B-2, Downgraded to Ca from Caa1
Morgan Stanley Mortgage Loan Trust 2007-11AR
Cl. 1-A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-6, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-7, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-8, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-X, Placed on Review for Possible Downgrade,
currently Aaa
Cl. B-1, Downgraded to B3 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. B-2, Downgraded to Ca from B3
Cl. B-3, Downgraded to Ca from Caa2
Cl. B-4, Downgraded to Ca from Caa3
Morgan Stanley Mortgage Loan Trust 2007-1XS
Cl. 1-A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-4-A, Placed on Review for Possible
Downgrade, currently Aaa
Cl. 2-A-4-B, Placed on Review for Possible
Downgrade, currently Aaa
Cl. 2-A-4-C, Placed on Review for Possible
Downgrade, currently Aaa
Cl. 2-A-5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-6, Placed on Review for Possible Downgrade,
currently Aaa
Cl. M-1, Downgraded to B2 from Aa1; Placed Under
Review for further Possible Downgrade
Cl. M-2, Downgraded to B2 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. M-3, Downgraded to B3 from Aa3; Placed Under
Review for further Possible Downgrade
Cl. M-4, Downgraded to B3 from A2; Placed Under
Review for further Possible Downgrade
Cl. M-5, Downgraded to B3 from A3; Placed Under
Review for further Possible Downgrade
Cl. M-6, Downgraded to B3 from Baa1; Placed Under
Review for further Possible Downgrade
Cl. B-1, Downgraded to B3 from Baa2; Placed Under
Review for further Possible Downgrade
Cl. B-2, Downgraded to Ca from Ba1
Cl. B-3, Downgraded to Ca from Ba3
Morgan Stanley Mortgage Loan Trust 2007-2AX
Cl. 1-A, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. M-1, Downgraded to B3 from Aa1; Placed Under
Review for further Possible Downgrade
Cl. M-2, Downgraded to B3 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. M-3, Downgraded to Caa1 from Aa3; Placed
Under Review for further Possible Downgrade
Cl. M-4, Downgraded to Caa1 from Baa2; Placed
Under Review for further Possible Downgrade
Cl. M-5, Downgraded to Ca from Ba1
Cl. M-6, Downgraded to Ca from Ba2
Cl. B-1, Downgraded to Ca from B1
Cl. B-2, Downgraded to Ca from B3
Cl. B-3, Downgraded to Ca from Caa3
Morgan Stanley Mortgage Loan Trust 2007-3XS
Cl. 1-A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A-2-A, Placed on Review for Possible
Downgrade, currently Aaa
Cl. 1-A-2-B, Placed on Review for Possible
Downgrade, currently Aaa
Cl. 1-A-3-A, Placed on Review for Possible
Downgrade, currently Aaa
Cl. 1-A-3-B, Placed on Review for Possible
Downgrade, currently Aaa
Cl. 2-A-1-A, Placed on Review for Possible
Downgrade, currently Aaa
Cl. 2-A-1-B, Placed on Review for Possible
Downgrade, currently Aaa
Cl. 2-A-2-SS, Placed on Review for Possible
Downgrade, currently Aaa
Cl. 2-A-3-SS, Placed on Review for Possible
Downgrade, currently Aaa
Cl. 2-A-4-SS, Placed on Review for Possible
Downgrade, currently Aaa
Cl. 2-A-5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-6, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-7-M, Placed on Review for Possible
Downgrade, currently Aaa
Cl. M-1, Downgraded to B2 from Aa1
Cl. M-2, Downgraded to B2 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. M-3, Downgraded to B2 from Aa3; Placed Under
Review for further Possible Downgrade
Cl. M-4, Downgraded to B3 from A2; Placed Under
Review for further Possible Downgrade
Cl. M-5, Downgraded to B3 from A3; Placed Under
Review for further Possible Downgrade
Cl. M-6, Downgraded to B3 from Baa1; Placed Under
Review for further Possible Downgrade
Cl. B-1, Downgraded to B3 from Baa3; Placed Under
Review for further Possible Downgrade
Cl. B-2, Downgraded to Ca from Ba1
Cl. B-3, Downgraded to Ca from Ba3
Morgan Stanley Mortgage Loan Trust 2007-5AX
Cl. 1-A, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. M-1, Downgraded to Caa1 from Aa1; Placed
Under Review for further Possible Downgrade
Cl. M-2, Downgraded to Caa1 from Aa2; Placed
Under Review for further Possible Downgrade
Cl. M-3, Downgraded to Caa1 from Aa3; Placed
Under Review for further Possible Downgrade
Cl. M-4, Downgraded to Ca from Ba2
Cl. M-5, Downgraded to Ca from B3
Cl. M-6, Downgraded to Ca from Caa1
Cl. B-1, Downgraded to Ca from Caa3
Morgan Stanley Mortgage Loan Trust 2007-6XS
Cl. 1-A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1-A-2-M, Placed on Review for Possible
Downgrade, currently Aaa
Cl. 1-A-3-M, Placed on Review for Possible
Downgrade, currently Aaa
Cl. 2-A-1-M, Placed on Review for Possible
Downgrade, currently Aaa
Cl. 2-A-6-M, Placed on Review for Possible
Downgrade, currently Aaa
Cl. 2-A-7-M, Placed on Review for Possible
Downgrade, currently Aaa
Cl. M-1, Downgraded to Baa2 from Aa1
Cl. M-2, Downgraded to B2 from Aa2
Cl. M-3, Downgraded to B1 from Aa3; Placed Under
Review for further Possible Downgrade
Cl. M-4, Downgraded to B1 from A1; Placed Under
Review for further Possible Downgrade
Cl. M-5, Downgraded to B2 from A2; Placed Under
Review for further Possible Downgrade
Cl. M-6, Downgraded to B2 from A3; Placed Under
Review for further Possible Downgrade
Cl. B-1, Downgraded to B3 from Baa1; Placed Under
Review for further Possible Downgrade
Cl. B-2, Downgraded to B3 from Baa2; Placed Under
Review for further Possible Downgrade
Cl. B-3, Downgraded to Ca from Ba1
Morgan Stanley Mortgage Loan Trust 2007-7AX
Cl. 2-A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2-A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. M-1, Downgraded to B3 from Aa1; Placed Under
Review for further Possible Downgrade
Cl. M-2, Downgraded to B3 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. M-3, Downgraded to Caa1 from Aa3; Placed
Under Review for further Possible Downgrade
Cl. M-4, Downgraded to Ca from B1
Cl. M-5, Downgraded to Ca from B3
Cl. M-6, Downgraded to Ca from Caa1
Cl. B-1, Downgraded to Ca from Caa2
Cl. B-2, Downgraded to Ca from Caa3
Morgan Stanley Mortgage Loan Trust 2007-8XS
Cl. A-1-M, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. M-1, Downgraded to Ba2 from Aa1
Cl. M-2, Downgraded to B1 from Aa2; Placed Under
Review for further Possible Downgrade
Cl. M-3, Downgraded to B1 from Aa3; Placed Under
Review for further Possible Downgrade
Cl. M-4, Downgraded to B1 from Baa1; Placed Under
Review for further Possible Downgrade
Cl. M-5, Downgraded to B1 from Baa3; Placed Under
Review for further Possible Downgrade
Cl. M-6, Downgraded to Ca from Ba1
Cl. B-1, Downgraded to Ca from Ba2
Cl. B-2, Downgraded to Ca from Ba3
Cl. B-3, Downgraded to Ca from B3
A list of these actions including CUSIP identifiers may be found at:
PDF: http://www.moodys.com/cust/getdocumentByNotesDocId.asp?criteria=PBS_SF128946
Excel: http://www.moodys.com/cust/getdocumentByNotesDocId.asp?criteria=PBS_SF128948
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
Gerard Mazi
Senior Associate
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653