Moody's takes action on $6.6 Billion of Alt-A & Option ARM RMBS issued by Countrywide

New York, October 06, 2016 -- Moody's Investors Service has upgraded the ratings of 2 tranches, downgraded the ratings of 54 tranches, confirmed ratings of 563 tranches from 48 transactions, backed by Alt-A & Option ARM and Resecuritized RMBS loans, issued by Countrywide Mortgage (CW). The tranches that were placed on review for upgrade on July 22nd, 2016, are due to the distribution of funds related to the $8.5 billion settlement related to CW's pre-crisis servicing practices and alleged breaches of representations and warranties, between Bank of America, N.A., parent of CW, and Bank of New York Mellon as trustee.

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