Fitch Affs $342.5MM & Lowers $65.3MM from 4 Citigroup Scratch and Dent Deals

May 15, 2008 3:16 PM EDT

NEW YORK--(BUSINESS WIRE)--

Fitch Ratings has taken the following rating actions on Citigroup Mortgage Loan Trust mortgage pass-through certificates. Unless stated otherwise, any bonds that were previously placed on Rating Watch Negative are removed. Affirmations total $342.5 million and downgrades total $65.3 million. Additionally, $17.7 million was placed on Rating Watch Negative.

    Citigroup Mortgage Loan Trust 2004-RP1

    --$73.0 million class A-1 affirmed at 'AAA';

    --$3.6 million class M-1 affirmed at 'AA+';

    --$3.6 million class M-2 affirmed at 'AA';

    --$3.0 million class M-3 affirmed at 'A+';

    --$2.4 million class M-4 downgraded to 'A-' from 'A';

    --$2.4 million class M-5 downgraded to 'BBB+' from 'A-';

    Citigroup Mortgage Loan Trust 2005-HE2

    --$45.6 million class A affirmed at 'AAA';

    --$11.0 million class M-1 affirmed at 'AA';

    --$6.8 million class M-2 affirmed at 'A';

    --$4.3 million class M-3 affirmed at 'BBB';

    --$1.4 million class M-4 affirmed at 'BBB-';

    Citigroup Mortgage Loan Trust 2005-SHL1

    --$47.9 million class A affirmed at 'AAA';

    --$8.6 million class M-1 affirmed at 'AA';

    --$4.7 million class M-2 affirmed at 'A';

    --$3.8 million class M-3 downgraded to 'BB+' from 'BBB';

    --$0.7 million class M-4 downgraded to 'BB+' from 'BBB-';

    Citigroup Mortgage Loan Trust 2006-SHL1

    --$129.0 million class A affirmed at 'AAA';

    --$21.0 million class M-1 downgraded to 'A+' from 'AA+';

    --$17.3 million class M-2 downgraded to 'A-' from 'AA';

--$5.5 million class M-3 downgraded to 'BBB-' from 'A+', placed on Rating Watch Negative;

--$4.9 million class M-4 downgraded to 'BBB-' from 'A', placed on Rating Watch Negative;

--$3.8 million class M-5 downgraded to 'BB+' from 'A-', placed on Rating Watch Negative;

--$3.5 million class M-6 downgraded to 'BB' from 'BBB+', placed on Rating Watch Negative;

Further information regarding current delinquency, loss, and credit enhancement statistics is also available 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.

Source: Fitch Ratings

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