Twenty-nine tranches from 13 alternative-A transactions issued by Residential Asset Securitization Trust have been downgraded by Moody's Investors Service, and 132 tranches have been placed on review for possible downgrade. In addition, six of the downgraded tranches remain on review for possible further downgrade. The ratings were downgraded, in general, based on higher-than-expected rates of delinquency, foreclosure, and real estate owned in the underlying collateral relative to credit enhancement levels, Moody's said. The collateral consists primarily of first-lien, fixed -rate, alt-A mortgage loans. Moody's can be found online at http://www.moodys.com.
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