Citigroup this week began readying a $374 million securitization backed by performing residential mortgages that have weighted average seasoning of 10 years in what an analyst described as a somewhat notable deal.

Five classes of Citigroup Mortgage Loan Trust 2014-A received preliminary investment-grade ratings ranging from AA(sf) to BBB(sf), and one tranche received a speculative grade preliminary rating of B(sf), according to Standard & Poor's and DBRS reports. The deal has one senior class with a 4% interest rate, one interest-only class, and five subordinate classes with roughly a 5.44% interest rate, according to S&P.

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