Fitch Downgrades Citigroup Mortgage Loan Trust Re-Remic Trust Certificates 2005-12

NEW YORK--(Business Wire)--
Fitch Ratings downgrades the ratings on Citigroup Mortgage Loan Trust Re-Remic
Trust Certificates 2005-12, which is a U.S. RMBS resecuritization, as part of
Fitch's ongoing review of Alt-A RMBS transactions. The affected classes
represent a beneficial ownership interest in separate trust funds.

The underlying securities remaining in Citigroup Mortgage Loan Trust Re-Remic
Trust Certificates 2005-12 Group One consist of Citigroup Mortgage Loan Trust
2005-5 class II-1-1A3 (rated 'CCC/RR3' by Fitch) and class II-1-1A4 (rated
'CCC/RR2').

The underlying securities remaining in Citigroup Mortgage Loan Trust Re-Remic
Trust Certificates 2005-12 Group Two consist of Citigroup Mortgage Loan Trust
2005-5 classes II-1-2A3 (rated 'CCC/RR3'), class II-1-2A4 (rated 'CCC/RR1') and
class II-1-2A5 (rated 'CCC').

The ratings for Citigroup Mortgage Loan Trust Re-Remic Trust Certificates
2005-12 classes IA1, IA2, IA3, IIA1, IIA2, and IIA3 were based on the lowest
rating of the underlying bonds in their respective group, since the classes do
not have credit enhancement provided by the re-remic structure.

Fitch downgrades the following Citigroup Mortgage Loan Trust Re-Remic Trust
Certificates 2005-12:

--Class IA1 to 'CCC/RR2' from 'AAA';

--Class IA2 to 'CCC' from 'AAA';

--Class IA3 to 'CCC/RR3' from 'AAA';

--Class IIA1 to 'CCC/RR2' from 'AAA';

--Class IIA2 to 'CCC/RR1' from 'AAA';

--Class IIA3 to 'CCC/RR3' from 'AAA'.

Fitch recently revised its surveillance methodology for prime and Alt-A RMBS to
include the use of the ResiLogic mortgage loss and default model to determine a
base-case loss expectation in conjunction with a transaction specific assessment
of the pools' actual performance. The assessment helps determine the adjustment,
if any, to the ResiLogic base-case loss expectation due to observed improvement
or deterioration in the pools' performance trends. Additional details are
available in the following research, also available on Fitch's web site at
'www.fitchratings.com':

--'U.S. RMBS Alt-A Surveillance Criteria' (Dec. 15, 2008).

In addition to the long-term rating for each bond, the above referenced
spreadsheet contains Fitch's Recovery Ratings (RR) for bonds rated below 'B'.
The Recovery Rating scale is based upon the expected relative recovery
characteristics of an obligation. For structured finance, Recovery Ratings are
designed to estimate recoveries on a forward-looking basis while taking into
account the time value of money. For more information about Recovery Ratings,
see Fitch Research on 'Definitions of Ratings and Other Scales,' dated March 3,
2009, available on Fitch's web site at 'www.fitchratings.com'.

Fitch's rating definitions and the terms of use of such ratings are available on
the agency's public site, 'www.fitchratings.com'. Published ratings, criteria
and methodologies are available from this site, at all times. Fitch's code of
conduct, confidentiality, conflicts of interest, affiliate firewall, compliance
and other relevant policies and procedures are also available from the 'Code of
Conduct' section of this site.

Fitch Ratings, New York
Michele Patterson, 212-908-0779
Tara Sweeney, 212-908-0347
or
Media Relations:
Sandro Scenga, 212-908-0278
Email: sandro.scenga@fitchratings.com

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