Two tranches from two alternative-A mortgage-backed securities deals issued by RBSGC have been downgraded by Moody's Investors Service. Class B-1 of RBSGC Mortgage Loan Trust 2007-A was downgraded from Aa2 to A2, and class 1B1 of RBSGC Mortgage Loan Trust 2007-B was downgraded from Aa2 to A2. The downgrades were based, in general, on higher-than-expected rates of delinquency, foreclosure, and real estate owned in the underlying collateral relative to credit enhancement levels, the rating agency said. The collateral consists primarily of first-lien, fixed-rate, alt-A mortgage loans.
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