TEXT-S&P corrects Merrill Lynch Mortgage Investors 2005-HE3 rating

Fri Oct 12, 2012 4:52pm EDT

(The following statement was released by the rating agency)
    Oct 12 - Standard & Poor's Ratings Services today corrected its rating on
class A-2B from Merrill Lynch Mortgage Investors Trust's series 2005-HE3 by
reinstating the 'A (sf)' rating and placing the rating on CreditWatch developing
(see list). We placed the rating on CreditWatch developing due to our recently
revised criteria for surveilling pre-2009 U.S. residential mortgage-backed
securities (RMBS) ratings. We place our ratings on CreditWatch developing in
situations where we may ultimately raise, lower, or affirm a rating. Our
preliminary analysis indicates that the revised rating will be approximately the
same as the current rating, but may move slightly either up or down.

On Aug. 25, 2011, we incorrectly withdrew our rating on class A-2B due to an 
error.

STANDARD & POOR'S 17G-7 DISCLOSURE REPORT

SEC Rule 17g-7 requires an NRSRO, for any report accompanying a credit rating 
relating to an asset-backed security as defined in the Rule, to include a 
description of the representations, warranties and enforcement mechanisms 
available to investors and a description of how they differ from the 
representations, warranties and enforcement mechanisms in issuances of similar 
securities. The Rule applies to in-scope securities initially rated (including 
preliminary ratings) on or after Sept. 26, 2011. 

If applicable, the Standard & Poor's 17g-7 Disclosure Report included in this 
credit rating report is available here


RELATED CRITERIA AND RESEARCH
     -- Methodology And Assumptions: U.S. RMBS Surveillance Credit And Cash 
Flow Analysis For Pre-2009 Originations, Aug. 9, 2012
     -- Global Structured Finance Scenario And Sensitivity Analysis: The 
Effects Of The Top Five Macroeconomic Factors, Nov. 4, 2011
     -- Principles Of Credit Ratings, Feb. 16, 2011

 (New York Ratings Team)
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