Structured Resecuritization Downgraded

Class C of Structured Mortgage Trust 1997-1, a resecuritization backed by other residential mortgage-backed securities, has been downgraded from B2 to Caa3 by Moody's Investors Service.Moody's also confirmed the rating of another class in the transaction. The downgrade was attributed to the weak performance of the underlying securities and the depletion of all credit enhancement originally available to the class.