New York, December 13, 2010 -- Moody's Investors Service has withdrawn the ratings of 29 tranches from
11 seasoned RMBS transactions issued between 1984 and 2003.
Moody's Investors Service has withdrawn the credit rating pursuant
to published credit rating methodologies that allow for the withdrawal
of the credit rating if the size of the pool outstanding at the time of
the withdrawal has fallen below a specified level. Please refer
to Moody's Investors Service's Withdrawal Policy, which
can be found on our website, www.moodys.com.
Moody's current RMBS surveillance methodologies apply to pools with
at least 40 loans and a pool factor of greater than 5%.
As a result, Moody's may withdraw its rating when the pool
factor drops below 5% and the number of loans in the pool declines
to 40 loans or lower unless specific structural features allow for a monitoring
of the transaction (such as a credit enhancement floor).
Moody's publishes a weekly summary of structured finance credit,
ratings and methodologies, available to all registered users of
our website, at www.moodys.com/SFQuickCheck
A list of these actions including CUSIP identifiers may be found at:
Excel: http://v3.moodys.com/viewresearchdoc.aspx?docid=PBS_SF227827
Complete Rating actions follow:
Issuer: Banc of America Mortgage 2003-B Trust
Cl. 1-A-1, Withdrawn (sf); previously
on Apr 15, 2010 A2 (sf) Placed Under Review for Possible Downgrade
Cl. 2-A-1, Withdrawn (sf); previously
on Apr 15, 2010 A1 (sf) Placed Under Review for Possible Downgrade
Cl. 2-A-2, Withdrawn (sf); previously
on Apr 15, 2010 A2 (sf) Placed Under Review for Possible Downgrade
Cl. 2-A-7, Withdrawn (sf); previously
on Apr 15, 2010 A2 (sf) Placed Under Review for Possible Downgrade
Cl. 2-A-8, Withdrawn (sf); previously
on Apr 15, 2010 A2 (sf) Placed Under Review for Possible Downgrade
Cl. 2-A-P, Withdrawn (sf); previously
on Apr 15, 2010 A2 (sf) Placed Under Review for Possible Downgrade
Issuer: CSFB Mortgage-Backed Pass-Through Certificates,
Series 2003-AR20
Cl. IV-A-1, Withdrawn (sf); previously
on Oct 27, 2003 Assigned Aaa (sf)
Cl. IV-M-1, Withdrawn (sf); previously
on Apr 15, 2010 Aa2 (sf) Placed Under Review for Possible Downgrade
Cl. IV-M-2, Withdrawn (sf); previously
on Apr 15, 2010 A1 (sf) Placed Under Review for Possible Downgrade
Cl. IV-M-3, Withdrawn (sf); previously
on Apr 15, 2010 Baa3 (sf) Placed Under Review for Possible Downgrade
Issuer: CTS Home Equity Loan Trust 1995-1
A, Withdrawn (sf); previously on May 14, 2009 Downgraded
to Ba1 (sf)
Financial Guarantor: MBIA Insurance Corporation (Downgraded to B3,
Outlook Negative on Jun 25, 2009)
Issuer: Green Tree Home Improvement Loans 1994-D
B-2, Withdrawn (sf); previously on Mar 18, 2010
Ca (sf) Placed Under Review for Possible Downgrade
Issuer: Option One/CTS ARM Trust 1996-1
A-1, Withdrawn (sf); previously on Jun 26, 2009
Confirmed at A2 (sf)
Financial Guarantor: MBIA Insurance Corporation (Downgraded to B3,
Outlook Negative on Jun 25, 2009)
Issuer: Sears Mtg Sec Corp 1984-01
D, Withdrawn (sf); previously on Feb 15, 1984 Assigned
Aaa (sf)
Issuer: First Boston 1987-01 (Glenfed Mtg)
A, Withdrawn (sf); previously on Aug 19, 1994 Upgraded
to Aa1 (sf)
Issuer: ComFed Savings Bank 1988-07
A-1, Withdrawn (sf); previously on Jul 01, 1997
Modified Rating Notation to Caa2 (sf)
A-2, Withdrawn (sf); previously on Jul 01, 1997
Modified Rating Notation to Caa2 (sf)
Issuer: Housing Securities Inc 1992-8
A, Withdrawn (sf); previously on Jun 30, 1992,
Assigned Aa2 (sf)
B, Withdrawn (sf); previously on Jun 30, 1992,
Assigned Aa2 (sf)
C, Withdrawn (sf); previously on Jun 30, 1992,
Assigned Aa2 (sf)
D, Withdrawn (sf); previously on Jun 30, 1992,
Assigned Aa2 (sf)
E, Withdrawn (sf); previously on Jun 30, 1992,
Assigned Aa2 (sf)
Issuer: Citicorp Mtg Sec Inc 1993-14
A-3, Withdrawn (sf); previously on Nov 29, 1993
Assigned Aaa (sf)
A-4, Withdrawn (sf); previously on Nov 29, 1993
Assigned Aaa (sf)
A-5, Withdrawn (sf); previously on Nov 29, 1993
Assigned Aaa (sf)
B-1, Withdrawn (sf); previously on Mar 18, 2003
Downgraded to Caa1 (sf)
Issuer: Citicorp Mtg Sec Inc 1994-03
A-05, Withdrawn (sf); previously on Feb 23, 1994
Assigned Aaa (sf)
A-13, Withdrawn (sf); previously on Feb 23, 1994
Assigned Aaa (sf)
B-01, Withdrawn (sf); previously on May 08, 2009
Downgraded to B1 (sf)
Moody's adopts all necessary measures so that the information it uses
in assigning a credit rating is of sufficient quality and from sources
Moody's considers to be reliable including, when appropriate,
independent third-party sources. However, Moody's
is not an auditor and cannot in every instance independently verify or
validate information received in the rating process.
Please see ratings tab on the issuer/entity page on Moodys.com
for the last rating action and the rating history.
The date on which some Credit Ratings were first released goes back to
a time before Moody's Investors Service's Credit Ratings were fully digitized
and accurate data may not be available. Consequently, Moody's
Investors Service provides a date that it believes is the most reliable
and accurate based on the information that is available to it.
Please see the ratings disclosure page on our website www.moodys.com
for further information.
Please see the Credit Policy page on Moodys.com for the methodologies
used in determining ratings, further information on the meaning
of each rating category and the definition of default and recovery.
New York
Aron Bergman
Analyst
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
New York
Debashish Chatterjee
Senior Vice President
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
Moody's Investors Service
250 Greenwich Street
New York, NY 10007
U.S.A.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
Moody's withdraws $32 million of RMBS issued from 1984 to 2003