Moody's Investors Service has downgraded 107 tranches from 18 deals issued by Bear Stearns in 2006 and late 2005 and placed 25 tranches under review for possible downgrade.Four downgraded tranches remain on review for possible downgrade. The negative rating actions were based on higher-than-expected rates of delinquency, foreclosure, and real estate owned relative to credit enhancement levels, Moody's said. The collateral backing the classes consists primarily of first lien, fixed- and adjustable-rate, alternative-A mortgage loans. Moody's can be found online at http://www.moodys.com.
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