Five certificates from two mortgage securitizations issued by Structured Asset Securities Corp. have been downgraded by Moody's Investors Service.The downgrades were as follows: series 2002-HF1, class B, from B1 to Caa2; and series 2005-AR1, class M8, from Baa2 to Baa3, class M9, from Baa3 to Ba1, class B1, from Ba1 to Ba3, and class B2, from B1 to B3. The five mezzanine and subordinate certificates have been downgraded because credit enhancement levels are low given the projected losses on the underlying pools, Moody's said. The transactions consist of subprime first-lien adjustable- and fixed-rate loans. Moody's can be found online at http://www.moodys.com.

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