Moody's takes action on $2.3 Billion Alt-A, Option ARM, and Resecuritized RMBS issued by Countrywide

New York, September 22, 2016 -- Moody's Investors Service has upgraded the rating of 23 tranches, downgraded the rating of 15 tranches, and confirmed the rating of 13 tranches from 19 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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