Sixteen certificates from deals issued by SACO I Trust in 2006 have been downgraded and maintained on review for possible further downgrade by Moody's Investors Service.Moody's also placed 29 certificates from seven SACO transactions on review for possible downgrade, the rating agency said. The negative rating actions were based on the fact that the transactions "have seen recent losses that have exceeded the excess spread available, thereby depleting the overcollateralization," Moody's said. The deals are backed by closed-end second-lien loans. The rating agency can be found on the Web at http://www.moodys.com.
Processing Content
