IndyMac ABS Classes Downgraded

Two classes from IndyMac Home Equity Mortgage Loan Asset-Backed Trust INDS 2006-A have been downgraded by Moody's Investors Service and placed on review for possible further downgrade.Class B-2 of series INDS 2006-A was downgraded from Ba1 to Caa1, and class B-3 was downgraded from Ba2 to Caa2. In addition, classes B-1, B-2, and B-3 of series INDS 2006-1 and classes M-8, M-9, and M-10 of series INDS 2006-A have been placed on review for possible downgrade. The negative rating actions were based on credit enhancement levels (including excess spread) that may be too low to maintain current rating levels in view of projected losses, Moody's said. The transaction is backed by second-lien loans.