Moody's takes action on Charles River CDO I, Ltd.

(The following statement was released by the rating agency)

May 19 - Moody's Investors Service announced today that it
has downgraded and placed on review for possible further
downgrade the ratings on the following notes issued by Charles
River CDO I, Ltd.
Class Description: U.S.$214,000,000 Class A-1A Floating Rate
Notes Due December 9, 2037
Prior Rating: Aaa
Current Rating: Baa3, on review for possible downgrade
Class Description: U.S.$15,000,000 Class A-1B Principal Only
Notes Due December 9, 2037
Prior Rating: Aaa
Current Rating: Ba2, on review for possible downgrade
Class Description: U.S.$20,000,000 Class A-2F Fixed Rate Notes
Due December 9, 2037
Prior Rating: Aa2
Current Rating: B3, on review for possible downgrade
Class Description: U.S.$15,000,000 Class A-2V Floating Rate Notes
Due December 9, 2037
Prior Rating: Aa2
Current Rating: B3, on review for possible downgrade
Additionally, Moody's downgraded the following notes:
Class Description: U.S.$3,000,000 Class B-F Fixed Rate Notes Due
December 9, 2037
Prior Rating: Ba1, on review for possible downgrade
Current Rating: C
Class Description: U.S.$18,000,000 Class B-V Floating Rate Notes
Due December 9, 2037
Prior Rating: Ba1, on review for possible downgrade
Current Rating: C
Class Description: U.S.$4,800,000 Class C Fixed Rate Notes Due
December 9, 2037
Prior Rating: Ca
Current Rating: C
According to Moody's, the rating actions reflect increased
deterioration in the credit quality of the structured finance
securities.