Moody's Investors Service today downgraded 36 classes of notes in 23 Greek structured finance transactions and placed one class of notes in a CDO transaction on review for possible downgrade.

The rating actions were prompted by Moody's expectations of significant pool performance deterioration due to the stressed economic environment in Greece as well as increased operational risk due to the weakened financial strength of Greek banks as reflected in the downgrades of several Greek banks on 30 April 2010.

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