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Moody's cuts Countrywide "Alt-A" mortgage loan deals

Wed Jan 9, 2008 4:36pm EST

NEW YORK, Jan 9 (Reuters) - Moody's Investors Service on Wednesday downgraded the ratings of 30 tranches of mortgage debt issued by Countrywide Financial Corp CFC.N, the largest U.S. mortgage lender.

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Moody's also said it may cut ratings on another 16 tranches from 15 deals issued by Countrywide in 2007, and five downgraded tranches remain on review for possible further cuts.

The collateral backing these classes consists of primarily first lien, fixed and adjustable-rate, Alt-A mortgage loans, Moody's said. (Reporting by Walden Siew; Editing by Leslie Adler)

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