Twenty-seven classes from seven transactions issued by Structured Asset Investment Loan Trust have been downgraded by Moody's Investors Service.In addition, Moody's placed eight classes from two SAIL transactions on review for possible downgrade and confirmed the ratings on three classes. The rating agency attributed the negative rating actions to credit enhancement levels that are seen as too low based on higher-than-expected rates of delinquency. "Moreover, recent losses have begun to erode overcollateralization on a number of the downgraded deals, leaving the rated bonds less protected against future losses," Moody's said. The collateral in the deals consists of fixed- and adjustable-rate, first- and second-lien subprime residential mortgage loans. Moody's can be found on the Web at http://www.moodys.com.

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