SABR Subprime Classes Downgraded

Forty-one tranches from eight transactions issued by Securitized Asset Backed Receivables LLC Trust in 2007 have been downgraded by Moody's Investors Service, and 15 tranches have been placed under review for possible downgrade.In addition, one downgraded tranche remains 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.