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Moody’s has downgraded the ratings of 45 tranches from 13 Alt-A transactions issued by Citigroup Mortgage Loan Trust. Seventeen tranches remain on review for possible further downgrade. Additionally, 27 tranches were placed on review for possible downgrade. The collateral backing these transactions consists primarily of first-lien, fixed and adjustable-rate, Alt-A mortgage loans. The ratings were downgraded based on higher than anticipated rates of delinquency, foreclosure, and REO in the underlying collateral relative to credit enhancement levels.

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Technorati Tags: Alt, Citigroup, Collateral, Credit Enhancement, Delinquency, Downgrades, Foreclosure, Mortgage Loan, Mortgage Loans, Reo, Tranches