Troubles in subprime have begun to creep up the credit spectrum. As expected, after the bloodbath of recent subprime downgrades, the Alt-A RMBS sector took a hit last week.

Moody's Investors Service placed 66 tranches from 33 Alt-A RMBS transactions issued in 2005 and 2006 under review for a possible downgrade last Tuesday. The securities are worth approximately $318 million and are made up of both fixed- and adjustable-rate first-lien loans.

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