Moody's places certain classes of certificates issued in 2004 and backed by WMC Mortgage Corp. subprime loans on review for possible downgrade and upgrade.
New York, September 05, 2007 -- Moody's Investors Service has placed on review for possible upgrade 21
certificates, and for possible downgrade 12 certificates,
backed by WMC subprime loans. The actions are based on the analysis
of the credit enhancement provided by subordination, overcollateralization
and excess spread relative to expected losses.
Complete rating actions are as follows:
Review for Possible Upgrade:
Issuer: MASTR Asset Backed Securities Trust 2004-WMC1
Class M-1, current rating Aa2;
Class M-2, current rating A2;
Class M-3, current rating A3;
Issuer: MASTR Asset Backed Securities Trust 2004-WMC2
Class M-1, current rating Aa2;
Class M-2, current rating A2;
Issuer: Merrill Lynch Mortgage Investors, Inc. 2004-WMC1
Class M-2, current rating A2;
Issuer: Merrill Lynch Mortgage Investors, Inc. 2004-WMC2
Class M-1, current rating Aa2;
Class M-2, current rating A2;
Issuer: Merrill Lynch Mortgage Investors, Inc. 2004-WMC3
Class M-2, current rating A2;
Issuer: Merrill Lynch Mortgage Investors, Inc. 2004-WMC4
Class M-2, current rating A2;
Class M-3, current rating A3;
Issuer: Merrill Lynch Mortgage Investors, Inc. 2004-WMC5
Class M-1, current rating Aa1;
Class M-2, current rating Aa2;
Class M-3, current rating Aa3;
Class M-4, current rating A1;
Class M-5, current rating A2;
Class M-6, current rating A3;
Issuer: Morgan Stanley ABS Capital I Inc. Trust 2004-WMC1
Class M-1, current rating Aa2;
Class M-2, current rating A2;
Issuer: Morgan Stanley ABS Capital I Inc. Trust 2004-WMC2
Class M-1, current rating Aa2;
Class M-2, current rating A2.
Review for Possible Downgrade:
Issuer: MASTR Asset Backed Securities Trust 2004-WMC1
Class M-6, current rating Baa3;
Class M-7, current rating Ba1;
Issuer: MASTR Asset Backed Securities Trust 2004-WMC2
Class M-6, current rating Baa3;
Class M-7, current rating Ba1;
Issuer: Merrill Lynch Mortgage Investors, Inc. 2004-WMC1
Class B-3, current rating Baa3;
Class B-4, current rating Ba2;
Issuer: Merrill Lynch Mortgage Investors, Inc. 2004-WMC2
Class B-3, current rating Baa3;
Issuer: Morgan Stanley ABS Capital I Inc. Trust 2004-WMC1
Class B-3, current rating Baa3;
Issuer: Morgan Stanley ABS Capital I Inc. Trust 2004-WMC2
Class B-2, current rating Baa2;
Class B-3, current rating Baa3;
Issuer: Asset Backed Securities corporation Home Equity Loan Trust
2004-HE9
Class M-6, current rating Baa3;
Class M-7, current rating Ba1.
For more information see www.Moodys.com
New York
Nicolas S. Weill
Managing Director - Chief Credit Officer
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
New York
Ola Hannoun-Costa
Senior Associate
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653