Twenty-seven tranches from five scratch-and-dent transactions issued by GSAMP Trust have been downgraded by Moody's Investors Service. The downgrades were based on the fact that many scratch-and-dent pools originated since 2004 are experiencing higher-than-expected rates of delinquency, foreclosure, and real estate owned, Moody's reported. "The rating adjustments will vary based on current ratings, level of credit enhancement, collateral characteristics, pool-specific historical performance, quarter of origination, and other qualitative factors," the rating agency said. Moody's can be found online at http://www.moodys.com.
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