Moody's lowers ratings of 382 Notes issued by 127 structured finance CDO transactions issued in 2005
New York, December 17, 2008 -- Moody's Investors Service announced today that it has downgraded its ratings
of 382 Notes issued by certain collateralized debt obligation transactions
backed by structured finance securities ("SF CDOs"), each of which
originated in 2005.
Moody's explained that the rating actions taken today are the result of
the application of revised and updated key modelling parameter assumptions
that Moody's uses to rate and monitor ratings of SF CDOs. The revisions
affect the three key parameters in Moody's model for rating SF CDOs:
asset correlation, default probability and recovery rate.
Moody's announced the changes to these assumptions in a press release
titled "Moody's Updates its Key Assumptions for Rating Structured Finance
CDOs," published on December 11, 2008.
Moody's noted that most of the lowered ratings remain on review for possible
downgrade due to the continuing weakness in the performance of and outlook
for structured finance securities that back SF CDOs.
Moody's initially analyzed and continues to monitor these transactions
using primarily the methodology and its supplements for ABS CDOs as described
in Moody's Special Reports below :
Moody's Approach to Rating Multisector CDOs (9/15/2000)
Moody's Approach To Rating Synthetic Resecuritizations (10/29/2003)
Moody's Revisits its Assumptions Regarding Structured Finance Default
(and Asset) Correlations for CDOs (6/27/2005)
Moody's Modeling Approach to Rating Structured Finance Cash Flow CDO Transactions
(9/26/2005)
Moody's anticipates that in the coming days it will announce additional
rating actions applicable to SF CDOs of earlier vintages as the revised
assumptions are applied to those transactions.
For more information please see www.moodys.com
Today's rating actions are as follows:
Grand Avenue CDO I Ltd
Class Description: Class A-1A Floating Rate Term Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 5/23/2008
Class Description: Class A-1B Floating Rate Delayed Draw
Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 5/23/2008
Class Description: Class A-2 Floating Rate Notes
Current Rating: Ca
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 5/23/2008
Dutch Hill Funding I
Class Description: Class A-1A
Current Rating: Ba1, under review for possible downgrade
Prior Rating: Baa1, under review for possible downgrade
Prior Rating Date: 5/9/2008
Class Description: Class A-1B
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 5/9/2008
Class Description: Class A-2L
Current Rating: Caa2, under review for possible downgrade
Prior Rating: B2, under review for possible downgrade
Prior Rating Date: 5/9/2008
Class Description: Class A-2X
Current Rating: Caa2, under review for possible downgrade
Prior Rating: B2, under review for possible downgrade
Prior Rating Date: 5/9/2008
Class Description: Class B
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 5/9/2008
Manasquan CDO 2005-1, Ltd.
Class Description: U .S. $195,000,000
Class A-ILA Floating Rate Notes Due 2045-1
Current Rating: Ba1, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 5/30/2008
Class Description: U.S. $23,000,000
Class A-1LB Floating Rate Notes Due 2045
Current Rating: B1, under review for possible downgrade
Prior Rating: Baa1, under review for possible downgrade
Prior Rating Date: 7/11/2008
Barrington CDO Ltd.
Class Description: U.S. $701,000,000
Class A-1M(A) Floating Rate Notes Due 2045
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: U.S. $701,000,000
Class A-1M(B) Fixed Rate Notes Due 2045
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: U.S. $99,000,000
Class A-1Q(A) Floating Rate Notes Due 2045
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: U.S. $99,000,000
Class A-1Q(B) Fixed Rate Notes Due 2045
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: U.S. $8,200,000
Class X Floating Rate Notes Due 2045
Current Rating: Aaa, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 12/28/2005
IXIS ABS CDO 1 LTD.
Class Description: Class X Notes Due January 2013
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A3, under review for possible downgrade
Prior Rating Date: 11/5/2008
Class Description: Class A-1LA Investor Swap
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 11/5/2008
Newcastle CDO VII, Limited
Class Description: Class I-A
Current Rating: Aa3, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 12/21/2005
Class Description: Class I-B
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1
Prior Rating Date: 12/21/2005
Class Description: Class II
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2
Prior Rating Date: 12/21/2005
Class Description: Class III
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A3
Prior Rating Date: 12/21/2005
Class Description: Class IV-FL
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 10/30/2008
Class Description: Class IV-FX
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 10/30/2008
Highgate ABS CDO, Ltd.
Class Description: U.S. $601,200,000
Class A-1 First Priority Senior Secured Floating Rate Delayed Draw
Notes Due 2046
Current Rating: Ba3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 5/30/2008
Class Description: U.S. $71,918,000
Class A-2 Second Priority Senior Secured Floating Rate Notes Due
2046
Current Rating: Caa1, under review for possible downgrade
Prior Rating: B1, under review for possible downgrade
Prior Rating Date: 5/30/2008
Class Description: U.S. $50,201,000
Class B Third Priority Secured Floating Rate Notes Due 2046
Current Rating: Caa3, under review for possible downgrade
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 5/30/2008
SUMMER STREET 2005-HG1, LTD.
Class Description: U.S.$935,000,000
Class A-1 Floating Rate Senior Secured Notes due 2045-1
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 4/22/2008
Class Description: U.S.$100,000,000
Class A-2 Floating Rate Senior Secured Notes due 2045
Current Rating: Ba2, under review for possible downgrade
Prior Rating: Baa2, under review for possible downgrade
Prior Rating Date: 4/22/2008
Class Description: U.S.$21,500,000
Class B Floating Rate Subordinate Secured Notes due 2045
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 4/22/2008
Class Description: U.S.$15,000,000
Class C Floating Rate Subordinate Secured Deferrable Notes due 2045
Current Rating: Caa3, under review for possible downgrade
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 4/22/2008
Class Description: U.S.$13,100,000
Class D Floating Rate Subordinate Secured Deferrable Notes due 2045
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 4/22/2008
Sherwood II CDO
Class Description: A-1
Current Rating: Caa1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 5/30/2008
Class Description: A-2
Current Rating: Ca
Prior Rating: B1, under review for possible downgrade
Prior Rating Date: 5/30/2008
Class Description: B
Current Rating: Ca
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 5/30/2008
Class Description: Combo Note
Current Rating: Ca
Prior Rating: B1, under review for possible downgrade
Prior Rating Date: 5/30/2008
Tricadia CDO 2005-4, Ltd.
Class Description: Class A-1LA
Current Rating: Aa2, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 12/22/2005
Class Description: Class A-1LB
Current Rating: Aa3, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 12/22/2005
Class Description: Class A-2L
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2
Prior Rating Date: 12/22/2005
Class Description: Class A-3L
Current Rating: Baa2, under review for possible downgrade
Prior Rating: A2
Prior Rating Date: 12/22/2005
Class Description: Class B-1L
Current Rating: Ba2, under review for possible downgrade
Prior Rating: Baa2
Prior Rating Date: 12/22/2005
Benazzi CDO 2005-1, Ltd.
Class Description: Class A
Current Rating: Ca
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 4/23/2008
Class Description: Class B
Current Rating: Ca
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 4/23/2008
Class Description: Class C
Current Rating: Ca
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 4/23/2008
Broderick CDO 1 Ltd.
Class Description: $250,000 Class A-1V First
Priority Senior Secured Voting Floating Rate Notes due 2043
Current Rating: Baa1, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 5/9/2008
Class Description: $354,750,000 Class A-1NVA
First Priority Senior Secured Non-Voting Floating Rate Notes due
2043
Current Rating: Baa1, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 5/9/2008
Class Description: $485,000,000 Class A-1NVB
First Priority Senior Secured Non-Voting Floating Rate Delayed
Draw Notes due 2043
Current Rating: Baa1, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 5/9/2008
Class Description: $85,000,000 Class A-2
Second Priority Senior Secured Floating Rate Notes due 2043
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 5/9/2008
Class Description: $43,000,000 Class B Third
Priority Senior Secured Floating Rate Notes due 2043
Current Rating: Caa2, under review for possible downgrade
Prior Rating: B2, under review for possible downgrade
Prior Rating Date: 5/9/2008
Lenox CDO, Ltd.
Class Description: U.S.$70,000,000
Class A-1S First Priority Senior Secured Floating Rate Delayed
Draw Notes due 2043-1
Current Rating: Ba1, under review for possible downgrade
Prior Rating: Baa1, under review for possible downgrade
Prior Rating Date: 5/30/2008
Class Description: U.S.$75,000,000
Class A-1J Second Priority Senior Secured Floating Rate Notes due
2043
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 5/30/2008
MKP CBO V, LTD.
Class Description: U.S.$ 486,500,000
Class A-1 First Priority Senior Secured Floating Rate Notes Due
January 2046-1
Current Rating: Caa1, under review for possible downgrade
Prior Rating: B1, under review for possible downgrade
Prior Rating Date: 5/30/2008
Class Description: U.S.$ 94,500,000
Class A-2 Second Priority Senior Secured Floating Rate Notes Due
January 2046
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 6/18/2008
ABSpoke 2005-X, Ltd.
Class Description: Yen2,000,000,000 Variable
Floating Rate Notes Due 2015
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 4/23/2008
North Street Referenced Linked Notes, 2005-8 Limited
Class Description: Class A Floating Rate Notes
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 10/30/2008
Ambassador Structured Finance CDO, Ltd.
Class Description: U.S.$800,000,000
Class A-1 Floating Rate Notes Due July 2041
Current Rating: Ba1, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 10/31/2008
Class Description: U.S.$112,000,000
Class A-2 Floating Rate Notes Due July 2041
Current Rating: Caa1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 10/31/2008
Class Description: U.S.$35,000,000
Class B Floating Rate Notes Due July 2041
Current Rating: Caa3, under review for possible downgrade
Prior Rating: B1, under review for possible downgrade
Prior Rating Date: 10/31/2008
Buckingham CDO II Ltd.
Class Description: Class B
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 7/30/2008
Class Description: Class C
Current Rating: Ca
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 7/30/2008
Class Description: Class A LT Notes
Current Rating: Baa3, under review for possible downgrade
Prior Rating: Aa3, under review for possible downgrade
Prior Rating Date: 7/30/2008
Class Description: Base Liquidity Advances
Current Rating: Baa3, under review for possible downgrade
Prior Rating: Aa3, under review for possible downgrade
Prior Rating Date: 7/30/2008
E*TRADE ABS CDO IV, LTD.
Class Description: U.S.$ 7,000,000
Class A-1A First Priority Senior Secured Floating Rate Notes Due
2042-1
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 6/2/2008
Class Description: U.S .$ 152,800,000
Class A-1B-1 First P riority Senior Secured Floa ting Rate
Delayed Draw Notes Due 2042
Current Rating: Ba2, under review for possible downgrade
Prior Rating: Baa2, under review for possible downgrade
Prior Rating Date: 6/2/2008
Class Description: U.S .$ 38,200,000
Class A-1B-2 First P riority Senior Secured Floating Rate
Notes Due 2042
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 6/2/2008
Class Description: U.S .$ 21,000,000
Class A-2 Second Priority Senior Secured Floating Rate Notes Due
2042
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 6/2/2008
Hereford Street ABS CDO I, Ltd.
Class Description: Class A-1
Current Rating: Baa1, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 11/7/2008
Class Description: Class A-2
Current Rating: Caa3, under review for possible downgrade
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 11/7/2008
Mercury CDO II, Ltd.
Class Description: U.S. $855,000,000
Class A-1 Senior Secured Floating Rate Notes Due 2045
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 10/22/2008
Crystal River CDO 2005-1, Ltd.
Class Description: U.S.$ 109,750,000
Class A Floating Rate Notes due 2046
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A3, under review for possible downgrade
Prior Rating Date: 11/3/2008
Class Description: U.S.$ 20,500,000
Class C Floating Rate Notes due 2046
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 11/3/2008
Pinetree CDO LTD.
Class Description: U.S.$195,000,000
Class A-1S Senior Secured Floating Rate Notes due 2045
Current Rating: B1, under review for possible downgrade
Prior Rating: Baa1, under review for possible downgrade
Prior Rating Date: 5/30/2008
Class Description: U.S.$33,000,000
Class A-1J Senior Secured Floating Rate Notes due 2045
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 5/30/2008
Class Description: U.S.$27,000,000
Class A-2 Senior Secured Floating Rate Notes due 2045
Current Rating: Ca
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 5/30/2008
Ayresome CDO I,Ltd.
Class Description: Class A-1a Notes
Current Rating: Ba3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 10/28/2008
Class Description: Class A-1b Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 10/28/2008
Class Description: Class A-2 Notes
Current Rating: Ca
Prior Rating: Caa3, under review for possible downgrade
Prior Rating Date: 10/28/2008
Class Description: Class A-3 Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 10/28/2008
Skybox CDO, Ltd.
Class Description: U.S.$38,000,000
Class A Senior Secured Floating Rate Notes Due 2040
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 5/18/2008
Class Description: U.S.$61,000,000
Class B Senior Secured Floating Rate Notes Due 2040
Current Rating: Ca
Prior Rating: B2, under review for possible downgrade
Prior Rating Date: 5/18/2008
Class Description: U.S.$54,000,000
Class C Senior Secured Deferrable Floating Rate Notes Due 2040
Current Rating: Ca
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 5/18/2008
Class Description: U.S.$5,000,000
Class D Senior Secured Deferrable Floating Rate Notes due 2040
Current Rating: Ca
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 5/18/2008
Class Description: Super Senior Swap
Current Rating: Caa2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 5/18/2008
Verde CDO Ltd.
Class Description: Class A-1 Floating Rate Notes
Current Rating: Baa1, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 5/29/2008
Class Description: Class A-2 Floating Rate Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 5/29/2008
Raffles Place Funding, Ltd.
Class Description: Funding Notes/CP Notes-1
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 7/11/2008
Class Description: Class A-1a
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 7/11/2008
Class Description: Class A-1b Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 7/11/2008
Adirondack 2005-2 Ltd
Class Description: U.S.$ 271,920,000
Class A-1LT-a Floating Rate Notes Due 2041
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 11/7/2008
Class Description: U.S.$ 61,800,000
Class A-2 Floating Rate Notes Due 2041
Current Rating: Baa1, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 11/7/2008
Class Description: U.S.$58,710,000
Class B Floating Rate Notes Due 2041
Current Rating: Ba3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 11/7/2008
Class Description: U.S.$30,900,000
Class C Floating Rate Notes Due 2041
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 11/7/2008
Class Description: U.S.$ 24,720,000
Class D Floating Rate Notes Due 2041
Current Rating: Caa2, under review for possible downgrade
Prior Rating: B2, under review for possible downgrade
Prior Rating Date: 11/7/2008
Class Description: U.S.$ 0 Class A-1LT-b
Floating Rate Notes Due 2041
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 11/7/2008
Altius II Funding, Ltd.
Class Description: Class A-1 Floating Rate Notes
Current Rating: Baa1, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: Class A-2 Floating Rate Notes
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 11/10/2008
Duke IX
Class Description: Senior Swap
Current Rating: Ba2, under review for possible downgrade
Prior Rating: Baa2, under review for possible downgrade
Prior Rating Date: 4/24/2008
Class Description: A1
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 4/24/2008
Class Description: A2V
Current Rating: Caa1, under review for possible downgrade
Prior Rating: B1, under review for possible downgrade
Prior Rating Date: 4/24/2008
Class Description: A2F
Current Rating: Caa1, under review for possible downgrade
Prior Rating: B1, under review for possible downgrade
Prior Rating Date: 4/24/2008
Class Description: Combo Notes
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 4/24/2008
Pine Mountain CDO Ltd.
Class Description: Class A-1
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A3, under review for possible downgrade
Prior Rating Date: 5/18/2008
Class Description: Class A-2
Current Rating: Ba3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 5/18/2008
Class Description: Class A-3
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 5/18/2008
Class Description: Class B
Current Rating: Caa1, under review for possible downgrade
Prior Rating: B1, under review for possible downgrade
Prior Rating Date: 5/18/2008
Class Description: Class C
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 5/18/2008
Diogenes CDO I
Class Description: Class A-1
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 5/29/2008
Class Description: Class A-2
Current Rating: Caa2, under review for possible downgrade
Prior Rating: B2, under review for possible downgrade
Prior Rating Date: 5/29/2008
Class Description: Class B
Current Rating: Caa3, under review for possible downgrade
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 5/29/2008
Tremonia CDO 2005-1 PLC
Class Description: U.S. $825,000,000
Class A-1 Tremonia CDO 2005-1 PLC Floating Rate Notes Due
2045
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 12/1/2008
ABACUS 2005-5
Class Description: A
Current Rating: A3, under review for possible downgrade
Prior Rating: Aa3, under review for possible downgrade
Prior Rating Date: 6/9/2008
Klio III Funding, Ltd.
Class Description: US $3,583,142,000 Class
F Float Rate Funded Note Due 11/1/2040
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 12/4/2008
Static Residential CDO 2005-B Ltd.
Class Description: Class A-1
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 4/24/2008
Class Description: Class A-2
Current Rating: Ba2, under review for possible downgrade
Prior Rating: A2, under review for possible downgrade
Prior Rating Date: 4/24/2008
Class Description: Class B Floating Rate Notes
Current Rating: Caa1, under review for possible downgrade
Prior Rating: A3, under review for possible downgrade
Prior Rating Date: 4/24/2008
Class Description: Class C Deferrable Interest Floating Rate Notes
Current Rating: Caa2, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 4/24/2008
Class Description: Class D Deferrable Interest Floating Rate Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 4/24/2008
Lexington Capital Funding, LTD
Class Description: U.S. $135,000,000
Class A-1AV First Priority Senior Secured Voting Floating Rate
Notes Due May 6, 2042
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A3, under review for possible downgrade
Prior Rating Date: 5/8/2008
Class Description: U.S. $72,000,000
Class A-2 Second Priority Senior Secured Floating Rate Notes Due
May 6, 2042
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 5/8/2008
Class Description: U.S. $44,000,000
Class B Third Priority Senior Secured Floating Rate Notes Due May 6,
2042
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 5/8/2008
Class Description: U.S. $10,000,000
Class C Fourth Priority Senior Deferrable Secured Floating Rate Notes
Due May 6, 2042
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 5/8/2008
Class Description: U.S. $250,000 Class
A-1B First Priority Senior Secured Floating Rate Notes Due May
6, 2042
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A3, under review for possible downgrade
Prior Rating Date: 5/8/2008
Class Description: U.S. $199,750,000
Class A-1ANV First Priority Senior Secured Non-Voting Floating
Rate Notes Due May 6, 2042
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A3, under review for possible downgrade
Prior Rating Date: 5/8/2008
Orient Point CDO, Ltd.
Class Description: Class A-1V First Priority Senior Secured
Voting Floating Rate
Current Rating: B2, under review for possible downgrade
Prior Rating: Baa2, under review for possible downgrade
Prior Rating Date: 6/9/2008
Class Description: Class A-1NVA First Priority Senior Secured
Non-Voting Floating Rate Delayed Draw Notes
Current Rating: B2, under review for possible downgrade
Prior Rating: Baa2, under review for possible downgrade
Prior Rating Date: 6/9/2008
Class Description: Class A 1NVB First Priority Senior Secured Non-Voting
Floating Rate Notes
Current Rating: B2, under review for possible downgrade
Prior Rating: Baa2, under review for possible downgrade
Prior Rating Date: 6/9/2008
Class Description: Class B Third Priority Senior Secured Floating
Rate Notes
Current Rating: Ca
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 6/9/2008
Class Description: Class A-2 Second Priority Senior Secured
Floating Rate Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: B1, under review for possible downgrade
Prior Rating Date: 6/9/2008
Porter Square CDO III, Ltd.
Class Description: U.S.$240,000,000
Class A-1 Senior Secured Floating Rate Notes Due 2041
Current Rating: Ba1, under review for possible downgrade
Prior Rating: Baa1, under review for possible downgrade
Prior Rating Date: 6/9/2008
Class Description: U.S.$56,000,000
Class A-2 Senior Secured Floating Rate Notes Due 2041
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 6/9/2008
Class Description: U.S.$48,000,000
Class B Senior Secured Floating Rate Notes Due 2041
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 6/9/2008
G Street Finance Ltd.
Class Description: U.S.$ 266,000,000
Class A-1LT-a Floating Rate Notes Due 2041
Current Rating: Baa1, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: U.S.$ 50,900,000
Class A-2 Floating Rate Notes Due 2041
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: U.S.$57,000,000
Class B Floating Rate Notes Due 2041
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: U.S.$ 0 Class A-1LT-b
Floating Rate Notes Due 2041
Current Rating: Baa1, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 11/10/2008
SUMMER STREET 2005-1, LTD.
Class Description: U.S.$279,000,000
Class A-1 Floating Bate Senior Secured Notes due 2045
Current Rating: B2, under review for possible downgrade
Prior Rating: Baa2, under review for possible downgrade
Prior Rating Date: 6/9/2008
Class Description: U.S.$38, 000,000
Class A-2 Floating Rate Senior Secured Notes due 2045
Current Rating: Caa3, under review for possible downgrade
Prior Rating: B1, under review for possible downgrade
Prior Rating Date: 6/9/2008
Class Description: U.S.$33, 000,000
Class A-3 Floating Rate Senior Secured Notes due 2045
Current Rating: Ca
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 6/9/2008
Zais Investment Grade Limited VII
Class Description: U.S. $215,000,000
Class A-1A Senior Secured Floating Rate Notes due 2040
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 6/5/2008
Class Description: U.S. $15,000,000
Class A-1B Senior Secured Fixed Rate Notes due 2040
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2, under review for possible downgrade
Prior Rating Date: 6/5/2008
Class Description: U.S. $27,000,000
Class A-2 Senior Secured Floating Rate Notes due 2040
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A3, under review for possible downgrade
Prior Rating Date: 6/5/2008
Class Description: U.S. $72,000,000
Class A-3 Senior Secured Floating Rate Notes due 2040
Current Rating: Caa1, under review for possible downgrade
Prior Rating: B1, under review for possible downgrade
Prior Rating Date: 6/5/2008
Class Description: U.S.$61,200,000
Type I Composite Obligations Due 2040
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 6/5/2008
Class Description: U.S.$10,000,000
Type III Composite Obligations Due 2040
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 6/5/2008
Davis Square Funding V, Ltd.
Class Description: Up to U.S. $1,740,000,000
Class A-1-a Floating Rate Notes Due 2040
Current Rating: Ba3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 10/27/2008
Class Description: Up to U.S. $1,740,000,000
Class A-1-b Floating Rate Notes Due 2040
Current Rating: Ba3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 10/27/2008
Class Description: U.S. $18,000,000
Class S Floating Rate Note Due 2016
Current Rating: Aaa, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 10/31/2005
Class Description: U.S. $80,000,000
Class A-2 Floating Rate Notes Due 2040
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 10/27/2008
Tourmaline CDO I Ltd.
Class Description: U.S.$487,500,000
Class I Senior Variable Funding Floating Rate Notes Due 2040-1
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 7/30/2008
Class Description: U.S.$112,500,000
Class II Senior Floating Rate Notes Due 2040
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 7/30/2008
TABS 2005-3, Ltd.
Class Description: U.S.$195,000,000
Class A-1 Senior Secured Floating Rate Delayed Draw Term Notes
Due 2045
Current Rating: Caa1, under review for possible downgrade
Prior Rating: B1, under review for possible downgrade
Prior Rating Date: 6/9/2008
Class Description: U.S.$35,000,000
Class A-2 Senior Secured Floating Rate Term Notes Due 2045
Current Rating: Caa2, under review for possible downgrade
Prior Rating: B2, under review for possible downgrade
Prior Rating Date: 6/9/2008
Class Description: U.S.$33,000,000
Class B Senior Secured Floating Rate Term Notes Due 2045
Current Rating: Caa3, under review for possible downgrade
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 6/9/2008
Khaleej II CDO, Ltd.
Class Description: Khaleej II CDO Super Senior US $502,5000,000
33%-100% Tranche
Current Rating: Baa2, under review for possible downgrade
Prior Rating: A2, under review for possible downgrade
Prior Rating Date: 5/30/2008
Inman Square Funding II
Class Description: Class I Senior Secured Floating Rate Notes
Current Rating: B1, under review for possible downgrade
Prior Rating: Baa1, under review for possible downgrade
Prior Rating Date: 5/18/2008
Class Description: Class II Senior Secured Floating Rate Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 5/18/2008
Class Description: Class III Mezzanine Secured Floating Rate Notes
Current Rating: Ca
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 5/18/2008
Class Description: Class III Mezzanine Secured Fixed Rate Notes
Current Rating: Ca
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 5/18/2008
House of Europe Funding IV PLC
Class Description: EUR 740,000,000 Class A1 House of
Europe Funding IV PLC Floating Rate Notes due 2090
Current Rating: Aa3, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 9/29/2005
Class Description: EUR 130,000,000 Class A2 House of
Europe Funding IV PLC Floating Rate Notes due 2090
Current Rating: Aa3, under review for possible downgrade
Prior Rating: Aaa, under review for possible downgrade
Prior Rating Date: 11/19/2008
Class Description: EUR 62,500,000 Class B House of Europe
Funding IV PLC Floating Rate Notes due 2090
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 11/19/2008
Class Description: EUR 5,000,000 Class C House of Europe
Funding IV PLC Floating Rate Notes due 2090
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 11/19/2008
Dallaglio CDO 2005-3 Ltd.
Class Description: Class B Fixed Rate Notes
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 6/9/2008
ACA ABS 2005-2, Limited
Class Description: Class A1S Senior Floating Rate Notes Due December
2044-1
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 4/23/2008
Class Description: Class A1J Senior Floating Rate Notes Due December
2044
Current Rating: Ba1, under review for possible downgrade
Prior Rating: Baa1, under review for possible downgrade
Prior Rating Date: 4/23/2008
Class Description: Class A2F Senior Fixed Rate Notes Due December
2044
Current Rating: Ba3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 4/23/2008
Class Description: Class A2V Senior Floating Rate Notes Due December
2044
Current Rating: Ba3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 4/23/2008
Class Description: Class A3 Deferrable Floating Rate Notes Due December
2044
Current Rating: Caa1, under review for possible downgrade
Prior Rating: B1, under review for possible downgrade
Prior Rating Date: 4/23/2008
Class Description: Class B Deferrable Floating Rate Notes Due December
2044
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 4/23/2008
Capella Funding, Ltd.
Class Description: Class A Floating Rate Notes due 2045
Current Rating: Aa3, under review for possible downgrade
Prior Rating: Aaa, under review for possible downgrade
Prior Rating Date: 12/1/2008
Class Description: Class B Floating Rate Notes due 2045
Current Rating: Aa3, under review for possible downgrade
Prior Rating: Aaa, under review for possible downgrade
Prior Rating Date: 12/1/2008
Class Description: Class C Floating Rate Notes due 2045
Current Rating: Baa2, under review for possible downgrade
Prior Rating: A2, under review for possible downgrade
Prior Rating Date: 12/1/2008
Kenmare 2005-I, Ltd.
Class Description: Variable Floating Rate Notes due 2048
Current Rating: Caa2, under review for possible downgrade
Prior Rating: B2, under review for possible downgrade
Prior Rating Date: 4/23/2008
Altius Funding I
Class Description: U.S.$ 354,000,000
Class A-1LT-a Floating Rate Notes Due 2040
Current Rating: Baa2, under review for possible downgrade
Prior Rating: A2, under review for possible downgrade
Prior Rating Date: 10/31/2008
Class Description: U.S.$ 75,000,000
Class A-2 Floating Rate Notes Due 2040
Current Rating: Baa2, under review for possible downgrade
Prior Rating: A2, under review for possible downgrade
Prior Rating Date: 10/31/2008
Class Description: U.S.$ 85,000,000
Class B Floating Rate Notes Due 2040
Current Rating: Ba1, under review for possible downgrade
Prior Rating: Baa1, under review for possible downgrade
Prior Rating Date: 10/31/2008
Class Description: U.S.$ 0 Class A-1LT-b
Floating Rate Notes Due 2040
Current Rating: Baa2, under review for possible downgrade
Prior Rating: A2, under review for possible downgrade
Prior Rating Date: 10/31/2008
Commodore IV CDO
Class Description: Class A-1(a) Floating Rate Variable Funding
Notes
Current Rating: Aa3, under review for possible downgrade
Prior Rating: Aaa, under review for possible downgrade
Prior Rating Date: 11/3/2008
Class Description: Class A-1(b) Floating Rate Notes
Current Rating: Baa1, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 11/3/2008
Class Description: Class A-2 Floating Rate Notes
Current Rating: Caa2, under review for possible downgrade
Prior Rating: B2, under review for possible downgrade
Prior Rating Date: 11/3/2008
McKinley II Funding, Ltd.
Class Description: U.S. $71,000,000
Class A-1 Floating Rate Notes Due 2045
Current Rating: Caa3, under review for possible downgrade
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 8/15/2008
Monroe Harbor CDO 2005-1 LTD.
Class Description: Class A-1A Floating Rate Notes Due December
2040
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 10/28/2008
Class Description: Class A-1B Floating Rate Notes Due December
2040
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 10/28/2008
Jupiter High-Grade CDO III, LTD
Class Description: Class A-1
Current Rating: A3, under review for possible downgrade
Prior Rating: Aa3, under review for possible downgrade
Prior Rating Date: 6/9/2008
Class Description: Class A-2A
Current Rating: Ba3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 6/9/2008
Class Description: Class A-2B
Current Rating: Ba3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 6/9/2008
Class Description: Class B
Current Rating: Caa3, under review for possible downgrade
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 6/9/2008
Fort Dearborn CDO I Ltd.
Class Description: Class A-1LB Floating Rate Notes Due September
2040
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 10/27/2008
Class Description: Class X Notes Due September 2012
Current Rating: Ba1, under review for possible downgrade
Prior Rating: Baa1, under review for possible downgrade
Prior Rating Date: 10/27/2008
Class Description: Class A-1LA Super Senior
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2, under review for possible downgrade
Prior Rating Date: 10/27/2008
Pascal CDO, LTD.
Class Description: U.S.$70,000,000
Class A First Priority Senior Secured Floating Rate Notes Due 2045-1
Current Rating: Ba3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 10/23/2008
Class Description: U.S.$44,000,000
Class B Second Priority Senior Secured Floating Rate Notes Due 2045
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 5/8/2008
Duke Funding High Grade III Ltd.
Class Description: A-1A Senior Secured Floating Rate Notes
Due 2049
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 11/5/2008
Class Description: A-1B1 Senior Secured Floating Rate Notes
Due 2049
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 11/5/2008
Class Description: A-1B2 Senior Secured Floating Rate Interest
Only Notes Due 2049
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 11/5/2008
Glacier Funding CDO III, LTD.
Class Description: Class A-1 First Priority Senior Secured
Floating Rate Notes
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A3, under review for possible downgrade
Prior Rating Date: 6/2/2008
Class Description: Class A-2 Second Priority Senior Secured
Floating Rate Notes
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 6/2/2008
Class Description: Class B Third Priority Senior Secured Floating
Rate Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 6/2/2008
ABACUS 2005-3, Ltd Class A2
Class Description: A-2
Current Rating: A3, under review for possible downgrade
Prior Rating: Aa3, under review for possible downgrade
Prior Rating Date: 6/6/2008
ABACUS 2005-3, Ltd. Class B
Class Description: B
Current Rating: Baa1, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 6/6/2008
ABACUS 2005-3, Ltd. Class C
Class Description: Class C Series 1 Floating Rate Notes
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A3, under review for possible downgrade
Prior Rating Date: 6/6/2008
Class Description: Class C Series 2 Floating Rate Notes
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A3, under review for possible downgrade
Prior Rating Date: 6/6/2008
ABACUS 2005-3, Ltd. Class D
Class Description: Class D
Current Rating: Ba3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 6/6/2008
Class Description: U.S.$37,000,000
Class D Series 2 Floating Rate Notes, Due 2039
Current Rating: Ba3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 6/6/2008
Class Description: U.S.$15,000,000
Class D Series 3 Floating Rate Notes, Due 2039
Current Rating: Ba3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 6/6/2008
ABACUS 2005-3, Ltd. Class E
Class Description: E
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 6/6/2008
Abacus 2005-3, Ltd. Class A-1
Class Description: A-1
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 5/9/2008
Buckingham CDO LTD.
Class Description: Class A LT Notes
Current Rating: Ba2, under review for possible downgrade
Prior Rating: Baa2, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: Base Liquidity Advances
Current Rating: Ba2, under review for possible downgrade
Prior Rating: Baa2, under review for possible downgrade
Prior Rating Date: 11/10/2008
Pioneer Valley Structured Credit CDO I Ltd.
Class Description: Class A-1A Floating Rate Notes Due 2045
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 10/31/2008
Class Description: Class A-2 Floating Rate Notes Due 2045
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 10/31/2008
Class Description: Class X Notes Due 2010 (with a Class X Fixed
Notional Amount of $23,478,000)
Current Rating: Aaa, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 9/30/2005
Class Description: Class A-1B Floating Rate Notes Due 2045
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 10/31/2008
Ischus CDO II, Ltd.
Class Description: U.S. $214,000,000
Class A-1A First Priority Senior Secured Floating Rate Notes Due
2040 (the "Class A-1A Notes")
Current Rating: Caa2, under review for possible downgrade
Prior Rating: B2, under review for possible downgrade
Prior Rating Date: 10/28/2008
Class Description: U.S. $50,000,000
Class A-1B First Priority Senior Secured Floating Rate Delayed
Draw Notes Due 2040 (the "Class A-1B Notes")
Current Rating: Caa2, under review for possible downgrade
Prior Rating: B2, under review for possible downgrade
Prior Rating Date: 10/28/2008
CLOSpoke 2005-IA, Ltd.
Class Description: Variable Floating Rate Notes due 2019
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2, under review for possible downgrade
Prior Rating Date: 8/4/2008
Gemstone CDO III
Class Description: Class A-1 Notes
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 11/3/2008
Class Description: Class A-2 Notes
Current Rating: Baa1, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 11/3/2008
Class Description: Class A-3 Notes
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 11/3/2008
Neptune CDO II, Ltd.
Class Description: U.S.$198,000,000
Class A-1 Senior Secured Floating Rate Notes Due 2045
Current Rating: B1, under review for possible downgrade
Prior Rating: Baa1, under review for possible downgrade
Prior Rating Date: 7/17/2008
Class Description: U.S.$52,000,000
Class A-2 Senior Secured Floating Rate Notes Due 2045
Current Rating: Ca
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 7/17/2008
Portfolio CDS Trust 61
Class Description: Super Senior
Current Rating: Aa3, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 7/29/2005
NORTH COVE CDO LTD.
Class Description: Supersenior
Current Rating: Baa2, under review for possible downgrade
Prior Rating: A2, under review for possible downgrade
Prior Rating Date: 6/2/2008
Class Description: Class A First Priority Secured Floating Rate
Notes
Current Rating: Ba3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 6/2/2008
Class Description: Class B Second Priority Secured Floating Rate
Notes
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 6/2/2008
Class Description: Class C Third Priority Secured Deferrable Floating
Rate Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 6/2/2008
Sorin Real Estate CDO I Ltd
Class Description: Class A1 Floating Rate Senior Notes
Current Rating: Aa3, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 8/9/2005
Class Description: Class A2 Floating Rate Senior Notes
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1
Prior Rating Date: 8/9/2005
Class Description: Class B Floating Rate Senior Notes
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2
Prior Rating Date: 8/9/2005
Class Description: Class C Floating Rate Subordinate Notes
Current Rating: Baa2, under review for possible downgrade
Prior Rating: A2
Prior Rating Date: 8/9/2005
Class Description: Class D Floating Rate Subordinate Notes
Current Rating: Ba2, under review for possible downgrade
Prior Rating: Baa2
Prior Rating Date: 8/9/2005
Class Description: Class E Floating Rate Subordinate Notes
Current Rating: Ba3, under review for possible downgrade
Prior Rating: Baa3
Prior Rating Date: 8/9/2005
Class Description: Class F Fixed Rate Subordinate Notes
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2
Prior Rating Date: 8/9/2005
Dallaglio CDO 2005-2 LTD
Class Description: Class B Floating Rate Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 4/23/2008
Class Description: Class C Floating Rate Notes
Current Rating: Ca
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 4/23/2008
Class Description: Class D Floating Rate Notes
Current Rating: Ca
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 4/23/2008
ABSpoke 2005-VIA, Ltd.
Class Description: Variable Floating Rate Notes due 2039
Current Rating: Baa2, under review for possible downgrade
Prior Rating: A2, under review for possible downgrade
Prior Rating Date: 4/23/2008
Rutland Rated Investments Series 13 (Villa 2005-1)
Class Description: Secured Floating Rate Credit Linked Notes due
2042
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2, under review for possible downgrade
Prior Rating Date: 5/23/2008
Rutland Rated Investments Series 14 (Villa 2005-1)
Class Description: Secured Floating Rate Credit Linked Notes due
2042
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 5/23/2008
Independence VI CDO, Ltd.
Class Description: U.S.$675,000,000
Class A-1 First Priority Senior Secured Floating Rate Notes Due
2041
Current Rating: Ba1, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 5/6/2008
Class Description: U.S.$94,500,000
Class A-2 Second Priority Senior Secured Floating Rate Notes Due
2041
Current Rating: B3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 5/6/2008
Class Description: U.S.$92,000,000
Class B Third Priority Senior Secured Floating Rate Notes Due 2041
Current Rating: Ca
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 6/2/2008
TORO ABS CDO I, LTD.
Class Description: U.S.$895,000,000
Class A First Priority Senior Secured Floating Rate Delayed Draw Notes
Due 2042
Current Rating: Caa2, under review for possible downgrade
Prior Rating: B2, under review for possible downgrade
Prior Rating Date: 11/21/2008
Static Residential Trust 2005-A, Ltd.
Class Description: Class A-1
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2, under review for possible downgrade
Prior Rating Date: 4/24/2008
Class Description: Class A-2
Current Rating: Baa1, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 4/24/2008
Class Description: Class B
Current Rating: Baa2, under review for possible downgrade
Prior Rating: A2, under review for possible downgrade
Prior Rating Date: 4/24/2008
Class Description: Class C
Current Rating: Ba2, under review for possible downgrade
Prior Rating: Baa2, under review for possible downgrade
Prior Rating Date: 4/24/2008
Class Description: Class D
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 4/24/2008
Vertical ABS CDO 2005-1
Class Description: Class A-1 SENIOR SECURED FLOATING RATE
TERM NOTES-1
Current Rating: Baa2, under review for possible downgrade
Prior Rating: A2, under review for possible downgrade
Prior Rating Date: 5/29/2008
Class Description: Class A-2 SENIOR SECURED FLOATING RATE
TERM NOTES-2
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 5/29/2008
Class Description: Class B SENIOR SECURED FLOATING RATE TERM NOTES-3
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 5/29/2008
Class Description: Class C SENIOR SECURED FLOATING RATE DEFERRABLE
INTEREST TERM NOTES-4
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 5/29/2008
Belle Haven ABS CDO 2005-1
Class Description: Class A-1
Current Rating: Caa1, under review for possible downgrade
Prior Rating: B1, under review for possible downgrade
Prior Rating Date: 10/31/2008
Coolidge Funding, LTD.
Class Description: Class A-1 Floating Rate Notes
Current Rating: Aa3, under review for possible downgrade
Prior Rating: Aaa, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: Class A-2 Floating Rate Notes
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 6/4/2008
Class Description: Class B Floating Rate Notes
Current Rating: A3, under review for possible downgrade
Prior Rating: Aa3, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: Class C Dererrable Floating Rate Notes
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: Class D Floating Rate Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 11/10/2008
House of Europe Funding I, Ltd.
Class Description: Class A
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 11/21/2008
Saturn Ventures 2005-1, Ltd
Class Description: Class A-1 Floating Rate Senior Secured
Notes-1
Current Rating: Aa3, under review for possible downgrade
Prior Rating: Aaa, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: Class A-2 Floating Rate Senior Secured
Notes
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 11/10/2008
Tricadia CDO 2005-3 Ltd.
Class Description: Class A-1L Floating Rate Notes Due June
2041-1
Current Rating: Aa3, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 6/30/2005
Class Description: Class A-2L Floating Rate Notes Due June
2041
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2
Prior Rating Date: 6/30/2005
Class Description: Class A-3L Floating Rate Notes Due June
2041
Current Rating: Baa2, under review for possible downgrade
Prior Rating: A2, under review for possible downgrade
Prior Rating Date: 11/7/2008
Class Description: Class B-1L Floating Rate Notes Due June
2041-1
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 11/7/2008
Class Description: Class X Notes Due June 2010
Current Rating: Aaa, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 6/30/2005
ABACUS 2005-2
Class Description: Class A-2
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 6/9/2008
Class Description: Class B
Current Rating: Caa3, under review for possible downgrade
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 6/9/2008
Class Description: Class A-3
Current Rating: Caa2, under review for possible downgrade
Prior Rating: B2, under review for possible downgrade
Prior Rating Date: 6/9/2008
Class Description: U.S $72,500,000 Class
A-1 Floating Rate Notes Due 2045
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A3, under review for possible downgrade
Prior Rating Date: 6/9/2008
Kleros Preferred Funding, Ltd.
Class Description: Class A-1 Notes
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 11/7/2008
Class Description: Class A-2 Notes
Current Rating: Baa2, under review for possible downgrade
Prior Rating: A2, under review for possible downgrade
Prior Rating Date: 11/7/2008
Class Description: Class B Notes
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 11/7/2008
Gloucester Street ABS CDO I, Ltd.
Class Description: U.S.$890,000,000
Class A-1 Floating Rate Notes Due June 2040
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 5/30/2008
Class Description: U.S.$37,000,000
Class A-2 Floating Rate Notes Due June 2040
Current Rating: Baa1, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 5/30/2008
Class Description: U.S.$31,500,000
Class B Floating Rate Notes Due June 2040
Current Rating: Ba2, under review for possible downgrade
Prior Rating: Baa2, under review for possible downgrade
Prior Rating Date: 5/30/2008
Class Description: U.S.$15,500,000
Class C Floating Rate Deferrable Interest Notes Due June 2040
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 5/30/2008
South Coast Funding VII Ltd
Class Description: U.S.$45,000,000
Class A-1AV First Priority Senior Secured Voting Floating Rate
Notes Due 2041-1
Current Rating: Ba2, under review for possible downgrade
Prior Rating: Baa2, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: U.S.$773,750,000
Class A-1ANV First Priority Senior Secured Non-Voting Floating
Rate Notes Due 2041
Current Rating: Ba2, under review for possible downgrade
Prior Rating: Baa2, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: U.S.$250,000 Class
A-1B First Priority Senior Secured Floating Rate Notes Due 2041
Current Rating: Ba2, under review for possible downgrade
Prior Rating: Baa2, under review for possible downgrade
Prior Rating Date: 11/10/2008
Repacs Trust Series: Warwick
Class Description: Class A Debt Unit
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A3
Prior Rating Date: 7/17/2008
Class Description: Class B Debt Unit
Current Rating: Ba1, under review for possible downgrade
Prior Rating: Baa1
Prior Rating Date: 7/17/2008
NORTHWALL FUNDING CDO I, LTD.
Class Description: Class A-1 First Priority Senior Secured
Floating Rate Notes
Current Rating: Baa3, under review for possible downgrade
Prior Rating: Aa3, under review for possible downgrade
Prior Rating Date: 5/8/2008
Athos Funding, Ltd.
Class Description: U.S. $40,000,000
Class A-1 Floating Rate Notes Due 2043
Current Rating: Ca
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 6/11/2008
Adirondack 2005-1
Class Description: U.S.$ 267,500,000
Class A-1LT-a Floating Rate Notes Due 2040
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2, under review for possible downgrade
Prior Rating Date: 11/20/2008
Class Description: U.S.$ 60,800,000
Class A-2 Floating Rate Notes Due 2040
Current Rating: Ba2, under review for possible downgrade
Prior Rating: Baa2, under review for possible downgrade
Prior Rating Date: 11/20/2008
Class Description: U.S.$ 57,700,000
Class B Floating Rate Notes Due 2040
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 11/20/2008
Class Description: U.S.$ 1,070,100,000
Class A-1LT-b Floating Rate Notes Due 2040
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2, under review for possible downgrade
Prior Rating Date: 11/20/2008
Gemstone CDO II Ltd.
Class Description: Class A-1 Notes
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 5/1/2008
Class Description: Class A-2 Notes
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 12/23/2007
Class Description: Class A-3 Notes
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 5/1/2008
Class Description: Class B Notes
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2, under review for possible downgrade
Prior Rating Date: 12/23/2007
Class Description: Class C Notes
Current Rating: Baa2, under review for possible downgrade
Prior Rating: A2, under review for possible downgrade
Prior Rating Date: 12/23/2007
Class Description: Class D Notes
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A3, under review for possible downgrade
Prior Rating Date: 12/23/2007
Class Description: Class E Notes
Current Rating: Ba2, under review for possible downgrade
Prior Rating: Baa2, under review for possible downgrade
Prior Rating Date: 12/23/2007
Class Description: Class F Notes
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 12/23/2007
Morgan Stanley ACES SPC, Series 2005-12
Class Description: U.S.$10,000,000
Secured Floating Rate Notes due 2014
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2, under review for possible downgrade
Prior Rating Date: 5/30/2008
ABSpoke 2005-IC2, Ltd.
Class Description: Variable Floating Rate Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 4/23/2008
Longport Funding II, Ltd.
Class Description: U.S.$195,000,000
Class A1S Senior Secured Floating Rate Notes due 204
Current Rating: Aa3, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 6/16/2005
Class Description: U.S.$35,000,000
Class A1J Senior Secured Floating Rate Notes due 2040
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2, under review for possible downgrade
Prior Rating Date: 5/18/2008
Class Description: U.S.$30,000,000
Class A2 Senior Secured Floating Rate Notes due 2040
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A3, under review for possible downgrade
Prior Rating Date: 11/25/2008
Class Description: U.S.$13,000,000
Class A3 Secured Deferrable Interest Floating Rate Notes due 2040,
Current Rating: Caa1, under review for possible downgrade
Prior Rating: B1, under review for possible downgrade
Prior Rating Date: 11/25/2008
ABSpoke 2005-IVA, Ltd.
Class Description: Variable Floating Rate Notes due 2039
Current Rating: Caa1, under review for possible downgrade
Prior Rating: B1, under review for possible downgrade
Prior Rating Date: 4/30/2008
Camber 3 plc
Class Description: S
Current Rating: Aaa, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 5/3/2005
Class Description: A-1
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 11/7/2008
Class Description: A-2
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 11/7/2008
Newcastle CDO VI, Limited
Class Description: Class I-MM Floating Rate Notes
Current Rating: Aa3, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 4/26/2005
Orchid Structured Finance CDO II, LTD
Class Description: U.S. $204,000,000
Class A-1 Floating Rate Senior Secured Notes Due 2043
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 5/18/2008
Class Description: U.S. $40,000,000
Class A-2 Floating Rate Senior Secured Notes Due 2043
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A3, under review for possible downgrade
Prior Rating Date: 5/18/2008
Class Description: U.S. $26,000,000
Class A-3 Floating Rate Senior Secured Notes Due 2043
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 5/18/2008
Trinity CDO, Ltd.
Class Description: Class A-1 Notes
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2, under review for possible downgrade
Prior Rating Date: 10/31/2008
Class Description: Class A-2 Notes
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 10/31/2008
Class Description: Class A-3 Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 10/31/2008
Class V Funding, Ltd.
Class Description: Class A-1 First Priority Senior Secured
Floating Rate Delayed Draw Notes due 2045
Current Rating: Ba2, under review for possible downgrade
Prior Rating: A2, under review for possible downgrade
Prior Rating Date: 7/30/2008
Class Description: Class A-2 Second Priority Senior Secured
Floating Rate Notes due 2045
Current Rating: Ca
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 7/30/2008
High Grade Structured Credit CDO 2005-1 Ltd
Class Description: the U.S. $674,000,000
Class A-1 First Priority Senior Secured Floating Rate Notes Due
2040
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 10/31/2008
Class Description: the U.S.$50,000,000
Class A-2 Second Priority Senior Secured Floating Rate Notes Due
2040
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2, under review for possible downgrade
Prior Rating Date: 10/31/2008
Class Description: the U.S. $17,650,000
Class B Third Priority Senior SEcured Floating Rate Notes Due 2040
Current Rating: A3, under review for possible downgrade
Prior Rating: Aa3, under review for possible downgrade
Prior Rating Date: 10/31/2008
Class Description: the U.S.$30,000,000
Class X Mezzanine Secured Deferrable Fixed Rate Notes Due 2040
Current Rating: Ba2, under review for possible downgrade
Prior Rating: Baa2, under review for possible downgrade
Prior Rating Date: 10/31/2008
Class Description: the U.S.$21,000,000
Class C Mezzanine Secured Deferrable Floating Rate Notes Due 2040
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 10/31/2008
ABSpoke 2005-IA, Ltd.
Class Description: Variable Floating Rate Notes due 2042
Current Rating: Baa2, under review for possible downgrade
Prior Rating: A2, under review for possible downgrade
Prior Rating Date: 4/23/2008
Davis Square Funding IV, Ltd.
Class Description: U.S. $ 387,000,000
Class A-1LT-a Floating Rate Notes Due 2040
Current Rating: Baa2, under review for possible downgrade
Prior Rating: Aa2, under review for possible downgrade
Prior Rating Date: 5/23/2008
Class Description: U.S. $ 40,000,000
Class A-2 Floating Rate Notes Due 2040
Current Rating: B3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 5/23/2008
Class Description: U.S. $ 64,875,000
Class B Floating Rate Notes Due 2040
Current Rating: B3, under review for possible downgrade
Prior Rating: Baa3, under review for possible downgrade
Prior Rating Date: 5/23/2008
Class Description: Class A-1LT-b Floating Rate Notes
Due 2040
Current Rating: Baa2, under review for possible downgrade
Prior Rating: Aa2, under review for possible downgrade
Prior Rating Date: 5/23/2008
Class Description: U.S. $ 2,000,000
Class E Deferrable Floating Rate Notes Due 2040
Current Rating: A2
Prior Rating: Baa1, under review for possible downgrade
Prior Rating Date: 4/3/2008
Kent Funding, Ltd.
Class Description: Class A-1 Notes
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 10/28/2008
Class Description: Funding Notes
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 10/28/2008
FORT SHERIDAN ABS CDO, LTD.
Class Description: Class A-1 Notes
Current Rating: Baa3, under review for possible downgrade
Prior Rating: Aa3, under review for possible downgrade
Prior Rating Date: 6/2/2008
Class Description: Class A-2 Notes
Current Rating: B1, under review for possible downgrade
Prior Rating: Baa1, under review for possible downgrade
Prior Rating Date: 6/2/2008
Class Description: Class B Notes
Current Rating: Caa1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 6/2/2008
Huntington CDO, Ltd.
Class Description: Class A-1A First Priority Senior Secured
Floating Rate Notes Due 2040
Current Rating: Aa2, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 4/5/2005
Class Description: Class A-1B First Priority Senior Secured
Floating Rate Notes Due 2040
Current Rating: Aa2, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 4/5/2005
Class Description: Class A-2 Second Priority Senior Secured
Floating Rate Notes Due 2040
Current Rating: Aa3, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 4/5/2005
Class Description: Class B Third Priority Senior Secured Floating
Rate Notes Due 2040
Current Rating: A3, under review for possible downgrade
Prior Rating: Aa3, under review for possible downgrade
Prior Rating Date: 10/30/2008
Class Description: Class C-1 Fourth Priority Senior Secured
Floating Rate Deferrable Notes Due 2040
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 10/30/2008
Class Description: Class C-2 Fourth Priority Senior Secured
Fixed Rate Deferrable Notes Due 2040
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 10/30/2008
Jupiter High Grade CDO II, Ltd.
Class Description: Class A-1
Current Rating: Ba1, under review for possible downgrade
Prior Rating: Baa1, under review for possible downgrade
Prior Rating Date: 11/7/2008
Class Description: Class A-2
Current Rating: Caa2, under review for possible downgrade
Prior Rating: B2, under review for possible downgrade
Prior Rating Date: 11/7/2008
Class Description: Class B
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 11/7/2008
ABSpoke 2005-IC, Ltd.
Class Description: Fixed Rate Notes due 2042
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 4/23/2008
Acacia CDO 7, Ltd.
Class Description: Class A Notes
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: Class B Notes
Current Rating: A3, under review for possible downgrade
Prior Rating: Aa3, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: Class C Notes
Current Rating: Ba2, under review for possible downgrade
Prior Rating: Baa2, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: Class D Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 11/10/2008
North Street Referenced Linked Notes, 2005-7 Limited
Class Description: Class A Floating Rate Notes
Current Rating: Baa2, under review for possible downgrade
Prior Rating: A2, under review for possible downgrade
Prior Rating Date: 4/29/2008
Class Description: Class B-1 Floating Rate Notes
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 4/29/2008
Class Description: Class B-2 Floating Rate Notes
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 4/29/2008
Class Description: Class C Floating Rate Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 4/29/2008
MKP CBO IV Inc.
Class Description: Class A-1 First Priority Senior Secured
Floating Rate Notes, Due 2040
Current Rating: Aa3, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 3/25/2005
Class Description: Class A-2 Second Priority Senior Secured
Floating Rate Notes, Due 2040
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2, under review for possible downgrade
Prior Rating Date: 10/30/2008
Class Description: Class B Third Priority Senior Secured Floating
Rate Notes, Due 2040
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 10/30/2008
ABACUS 2005-1, Ltd.
Class Description: Class A-1
Current Rating: Ba1, under review for possible downgrade
Prior Rating: Baa1, under review for possible downgrade
Prior Rating Date: 11/5/2008
Class Description: Class A-2
Current Rating: Caa2, under review for possible downgrade
Prior Rating: B2, under review for possible downgrade
Prior Rating Date: 11/5/2008
Class Description: Class B
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 11/5/2008
ACA ABS 2005-1, Limited
Class Description: Class A-1 Notes
Current Rating: Aa3, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 3/31/2005
Class Description: Class A-2 Notes
Current Rating: Baa1, under review for possible downgrade
Prior Rating: A1, under review for possible downgrade
Prior Rating Date: 11/19/2008
Class Description: Class B Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: B3, under review for possible downgrade
Prior Rating Date: 11/19/2008
Commodore CDO III, Ltd.
Class Description: Class A-1A First Priority Senior Secured
Floating Rate Notes
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: Class A-1B First Priority Senior Secured
Floating Rate Notes
Current Rating: Aa3, under review for possible downgrade
Prior Rating: Aaa
Prior Rating Date: 3/2/2005
Class Description: Class A-1C First Priority Senior Secured
Floating Rate Notes
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: Class A-2 Second Priority Senior Secured
Floating Rate Notes
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A3, under review for possible downgrade
Prior Rating Date: 11/10/2008
Class Description: Class B Third Priority Secured Floating Rate
Notes
Current Rating: Caa2, under review for possible downgrade
Prior Rating: B2, under review for possible downgrade
Prior Rating Date: 11/10/2008
Morgan Stanley ACES SPC, Series 2005-5
Class Description: Notes Due July 7, 2014
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2, under review for possible downgrade
Prior Rating Date: 5/18/2008
Duke Funding High Grade I, Ltd.
Class Description: $660,000,000 Class A-1
LT-a Senior Secured Floating Rate Notes Due 2040
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 11/5/2008
Class Description: Class A-1 LT-b1 Senior Secured
Floating Rate Notes Due 2045
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 11/5/2008
Class Description: Class A-1 LT-b2 Senior Secured
Floating Rate Notes Due 2045
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 11/5/2008
Neptune CDO 2004-1 LTD
Class Description: Class A-1LA Floating Rate Notes
Current Rating: A1, under review for possible downgrade
Prior Rating: Aa1, under review for possible downgrade
Prior Rating Date: 5/16/2008
Class Description: Class A-1LB Floating Rate Notes
Current Rating: A3, under review for possible downgrade
Prior Rating: Aa3, under review for possible downgrade
Prior Rating Date: 5/16/2008
Class Description: Class A-2L Floating Rate Notes
Current Rating: Ba1, under review for possible downgrade
Prior Rating: Baa1, under review for possible downgrade
Prior Rating Date: 5/16/2008
Class Description: Class A-3L Floating Rate Notes
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 5/16/2008
Class Description: Class B-1L Floating Rate Notes
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 5/16/2008
River North CDO Ltd.
Class Description: U.S. $193,500,000
Class A-1 Senior Secured Floating Rate Notes Due 2040
Current Rating: Ba1, under review for possible downgrade
Prior Rating: Baa1, under review for possible downgrade
Prior Rating Date: 5/8/2008
Class Description: U.S. $37,500,000
Class A-2 Senior Secured Floating Rate Notes Due 2040
Current Rating: B3, under review for possible downgrade
Prior Rating: Ba3, under review for possible downgrade
Prior Rating Date: 5/8/2008
Class Description: U.S. $33,000,000
Class B Senior Secured Floating Rate Notes Due 2040
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 5/8/2008
Dallaglio CDO 2005-1, LTD.
Class Description: Class B Floating Rate Notes
Current Rating: A2, under review for possible downgrade
Prior Rating: Aa2, under review for possible downgrade
Prior Rating Date: 4/23/2008
Class Description: Class C Floating Rate Notes
Current Rating: Baa3, under review for possible downgrade
Prior Rating: A3, under review for possible downgrade
Prior Rating Date: 4/23/2008
Class Description: Class D Floating Rate Notes
Current Rating: B2, under review for possible downgrade
Prior Rating: Ba2, under review for possible downgrade
Prior Rating Date: 4/23/2008
Liberty Harbour CDO Ltd, 2005-1
Class Description: U.S.$117,600,000
Class B Secured Floating Rate Notes Due 2040
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa1, under review for possible downgrade
Prior Rating Date: 4/22/2008
Class Description: U.S.$84,000,000
Class C Secured Floating Rate Notes Due 2040-1
Current Rating: Caa3, under review for possible downgrade
Prior Rating: Caa2, under review for possible downgrade
Prior Rating Date: 4/22/2008
Class Description: Class A LT-1 Notes
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 5/20/2008
Class Description: Class A LT-2 Notes
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 5/20/2008
Class Description: Base Liquidity Advances
Current Rating: B1, under review for possible downgrade
Prior Rating: Ba1, under review for possible downgrade
Prior Rating Date: 5/20/2008
New York
Jian Hu
Managing Director
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
New York
Stephen Lioce
Senior Vice President
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
