Forty-three tranches from eight transactions issued by Merrill Lynch in 2007 have been downgraded by Moody's Investors Service, and 12 tranches have been placed under review for possible downgrade.In addition, two downgraded tranches remain on review for possible further downgrade. The collateral is experiencing higher-than-expected rates of delinquency, foreclosure, and real estate owned relative to credit enhancement levels, Moody's said. The collateral consists primarily of first lien subprime mortgage loans.
Processing Content
