Ingress CDO Classes Downgraded

Two classes of notes issued by Ingress I Ltd., a static-pool collateralized debt obligation backed in part by mortgage-related securities, have been downgraded by Moody's Investors Service.The downgrades were as follows: Class B Second Priority Fixed Rate Term Notes Due 2040, from Aa2 to Aa3; and Class C Third Priority Fixed Rate Notes Due 2040, from A3 to Ba3. Both classes remain on watch for possible downgrade. Moody's said the actions were necessary to ensure that the ratings "accurately reflect the risk of expected losses from the underlying collateral pool, which has continued to deteriorate in credit quality since the last rating action on the affected notes." The CDO is supported by asset-backed securities, commercial mortgage-backed securities, and real estate investment trust securities.