Rating Game (JANUARY 3 -- JANUARY 6)

January 07, 2005 12:00 AM

MOODY’S
Upgrades	To	From
Asset Securitization Corporation STRUCT. Subordinate	Aaa	Aa1
STRUCT. Junior Subordinate	Aaa	A1
STRUCT. Junior Subordinate	A1	Baa2
STRUCT. Junior Subordinate	A3	Baa3
GMAC Commercial Mortgage Securities, Inc. STRUCT. Senior Subordinate	Aaa	Aa2
STRUCT. Subordinate	Aaa	A2
STRUCT. Subordinate	Aa3	Baa2
STRUCT. Subordinate	Baa1	Baa3
Prudential Securities Secured Financing Corp., Series 1999-NRF1 STRUCT. Senior Subordinated	Aaa	Aa2
STRUCT. Subordinated	Baa3	Ba1
STRUCT. Senior Subordinated	Aa2	A2
STRUCT. Senior Subordinated	A3	Baa2
STRUCT. Senior Subordinated	Baa1	Baa3
United Mortgage Securities Corporation STRUCT. Senior Subordinate	Aaa	Aa2
STRUCT. Subordinate	Aa2	A3

Downgrades	To	From
Arosa Funding Limited STRUCT. Senior Secured	A3	A2
Prudential Securities Secured Financing Corp., Series 1999-NRF1 STRUCT. Subordinated	B3	B2
STRUCT. Subordinated	Caa1	B3
Tembec Industries Inc. Senior Unsecured	B2	Ba3

Topics