TCR_Public/081022.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Wednesday, October 22, 2008, Vol. 12, No. 252           

                             Headlines

AFFINITY HEALTHCARE: Blames Bankruptcy on Improper Reimbursement
AMERICAN COLOR: Completes Prepack Plan, Merger with Vertis Comms
AMERICAN INTERNATIONAL: To Sell Stake in Asian Life-Insurance Biz
AMERICREDIT AUTO: Moody's Takes Rating Actions on Various Classes
ANTONIO VILLEGAS: Case Summary & 19 Largest Unsecured Creditors

ARCHWAY COOKIES: Creditors' Committee Formed; Interim Cash OKed
ARLINGTON RIDGE: Seeks Court Okay to Employ Stichter as Counsel
ATRIUM COS: S&P Puts 'CCC' Issue-Level Rating on $185MM Sr. Notes
BCBG MAX: Moody's Cuts PD Rating to 'Caa3' on Cash Flow Deficits
BEAR STEARNS: S&P Junks Rating on Class O Certificates

BIOHEART INC: Has Until November 14 to Comply with Nasdaq Rules
BLUMENTHAL PRINT: Voluntary Chapter 11 Case Summary
BROWN SHOE: Sales Decline Cues Moody's to Change Outlook to Stable
CALIFORNIA OIL: Robert Saxe Discloses 7.7% Equity Stake
CARUSO HOMES: Wants Exclusivity Extended Until May 1, 2009

CHILDREN'S WORLD: Case Summary & 20 Largest Unsecured Creditors
CHRYSLER LLC: Bankruptcy to Resolve Labor Woes, Economist Says
CIRCUIT CITY: Mulls Shutdowns, Job Cuts to Avoid Bankruptcy
CITIZENS REPUBLIC: Fitch Holds 'BB-' Subordinated Debt Rating
CLEAN TECHNOLOGY: Involuntary Chapter 11 Case Summary

COMMONWEALTH EDISON: Exelon Deal Cues Fitch to Put Rating on Watch
CSFB HOME: Moody's Downgrades Ratings on 52 Certificate Classes
DEATH ROW: Trustees to Resell Asset After Failed $24 Mil. Deal
EATON VANCE: S&P Junks Ratings on 2 Classes; Keeps Negative Watch
ECHELON PROPERTY: Best Lifts Issuer Credit Rating to bb+ from bb-

FASHION HOUSE: Messrs. Broidy and McCann, Jr., Leave Board
FITNESS HOLDINGS: Case Summary & 20 Largest Unsecured Creditors
FORD MOTOR: Tracinda's Stake Sale Casts Doubt on Firm's Health
FRANKLIN PIERCE: Moody's Puts 'Ba3' Debt Rating on Watchlist
GATEWAY ETHANOL: Wants William Blair as Financial Advisor

GENERAL MOTORS: Merger Might Help Ease Union Talks, Analyst Says
GOE LIMA: Files for Ch. 11; Blames Design Flaw and Tight Credit
GRANITE XPRESS: Seeks to Hire Arnstein & Lehr as Bankr. Counsel
GREATWIDE LOGISTICS: To be Sold to Secured Lenders
HILITE INT'L: S& Junks Corporate Credit on Liquidity Concerns

HRP MYRTLE: Objects to Probe on Feasibility of Reorganization
IMAGE ENT: Has Until Feb. to Comply with Nasdaq Market Value Rule
IRON TREE: Case Summary & 20 Largest Unsecured Creditors
JAMES WELLHAUSEN: Case Summary & Nine Largest Unsecured Creditors
JG WENTWORTH: Moody's Reviews Ratings on Challenged Funding

JMJ ORGANICS: Voluntary Chapter 11 Case Summary
JOHN KRETCHMAR: Court Extends Deadline for Schedules to Oct. 21
JOSEPH RIDGEWAY: Voluntary Chapter 11 Case Summary
KARYKEION INC: U.S. Trustee Sets 341(a) Meeting for November 18
KINGS PEAK: Voluntary Chapter 11 Case Summary

KIP WILLIAMS: Case Summary & 20 Largest Unsecured Creditors
KM INVESTMENTS: Voluntary Chapter 11 Case Summary
LANDRY'S RESTAURANTS: S&P Keeps B Corp. Credit Rating on WatchNeg
LINDEN AVENUE: Voluntary Chapter 11 Case Summary
LINENS 'N THINGS: Liquidators Begin Inventory Sale at 371 Stores

LITTLE PROFESSIONALS: Stops Operations; Closes Centers
MEADE INSTRUMENTS: Cuts Net Loss to $2MM in Quarter Ended Aug. 31
MEDICAL SAVINGS: Best Cuts Fin'l Strength Rtng to 'C++(Marginal)'
MICROHEAT INC: GM Claiming Up to $25MM in Damages for Recall
MINNESOTA SURETY: Best Affirms 'bb' Issuer Credit Rating

MODTECH HOLDINGS: Weak Market Blamed for Chapter 11 Filing
MODTECH HOLDINGS: Case Summary & 20 Largest Unsecured Creditors
MTJ WILLIAMS: Case Summary & 20 Largest Unsecured Creditors
MYERS MILL: U.S. Trustee Sets 341(a) Meeting for October 29
NAMWEST-PALMS: Case Summary & 20 Largest Unsecured Creditors

NORD RESOURCES: Wants Shares Deregistered After Warrants Expire
NRG ENERGY: $6.2MM Purchase Offer Neg. for Exelon, Moody's Says
NRG ENERGY: Pending Exelon Deal Cues Fitch to Keep Ratings
PATIENT SAFETY: Mary Lay Replaces William Horne as Finance Chief
PCG SUMMIT-LAKELINE: HomeFed Must Stave Off Project Foreclosure

PETTERS AVIATION: Schedules Filing Deadline Extended to Nov. 10
POLLARD & COMPANY: Voluntary Chapter 11 Case Summary
POMARE LTD: Court Sets Schedules Filing Deadline for Oct. 24
PROPEX INC: Has Until October 29 to File Reorganizational Plan
QUIGLEY CO: Pfizer Objects to U.S. Trustee's Proposed Probe

REMOTEMDX INC: Nord/LB Discloses 14.8% Equity Stake
REYNOLDS STORAGE: Case Summary & 20 Largest Unsecured Creditors
RMK STRATEGIC: Intends to Cure Closing Stock Price Non-Compliance
ROUGE INDUSTRIES: Court Extends Plan Filing Period to November 19
SCHWEIZER & SCHWEIZER: Case Summary & 2 Largest Unsec. Creditors

SHOE PAVILION: Closing All Stores After 29 Years in Business
SILVER STATE: Case Summary & 20 Largest Unsecured Creditors
SIRIUS XM: Exchanges 67 Million Shares for $30.5 Million Notes
SJ LAND LLC: Case Summary & Eight Largest Unsecured Creditors
SNAKE RIVER: Case Summary & 20 Largest Unsecured Creditors

SOUTHPOINTE EXPANSION: Unsecured Claims Will Be Paid in Full
SOUTHPOINTE EXPANSION: Plan Confirmation Hearing Set for Oct. 29
STATION CASINOS: S&P Puts 'B-' Corp. Credit Rating on WatchNeg
STEVEN MOLASKY: To Sell Real Estate Holdings Under Bankruptcy Plan
TANEJA CENTER: U.S. Trustee Reschedules 341(a) Meeting for Nov. 17

TIDEWATER SPORTS: Case Summary & 20 Largest Unsecured Creditors
TWEETER HOME: Might File for Chapter 11 Protection Again
TWL CORP: Voluntary Chapter 11 Case Summary
US AIRWAYS: S&P Keeps 'B-' Corp. Credit Rating; Removes Neg. Watch
VEASY & HORNER: Voluntary Chapter 11 Case Summary

VELOCITY EXPRESS: Has Until Oct. 31 to Submit Listing Cure Plan
VERTIS COMMUNICATIONS: Consumates Prepack Plan, Merger with ACG
WINGS ALOFT: Voluntary Chapter 11 Case Summary
WMALT: Moody's Downgrades Ratings on 160 Tranches
YORK FIRE: Best Affirms Issuer Credit Rating at 'bb'

* NewOak Selects Vincent Truglia as Global Managing Director
* NachmanHaysBrownStein Selects Thomas Yessman as Sr. Consultant
* S&P Lowers Ratings on 760 Classes from 85 RMBS Transactions

* Upcoming Meetings, Conferences and Seminars

                             *********


AFFINITY HEALTHCARE: Blames Bankruptcy on Improper Reimbursement
----------------------------------------------------------------
The Deal's Jamie Mason reports that Affinity Health Care
Management, Inc., blamed its Chapter 11 filing on financial
difficulties and improper reimbursement made by the state of
Connecticut for the company's medicaid services.

According to the Deal, the company was unable to pay its debts as
they come due when the state improperly withheld and recouped cash
of medicaid payments the company previously earned.  The company's
financial health deteriorated when it can no longer access
financing due to credit crisis, the report adds.

In addition, the filing came following the receivership of its
nursing facility, which had needed to advance $125,000 from the
Department of Social Services to pay its payroll, the Deal says.

The state is now investigating the causes of the company's abrupt
filing, said Richard Blumenthal, attorney general of the state.
The Department will issue its interim report by Friday and final
report in the first week of next month, the Deal says.

             Conn. AG to Look After Residents' Welfare

John O'Brien at Legal Newsline (Conn.) reports that Connecticut
Attorney General Richard Blumenthal said he will work with the
Department of Social Service to make sure that former residents of
Affinity Health Care's nursing home are protected while the
company is undergoing bankruptcy proceedings.

Legal Newsline quoted Mr. Blumenthal as saying, "My office is
seeking to intervene immediately in this bankruptcy proceeding to
ensure that patients and quality of care are protected at Affinity
nursing homes.  I am deeply disturbed by this abrupt bankruptcy
filing -- done without notice or warning to the state, patients or
employees.  The State is conducting a full-scale investigation to
determine the causes of this sudden bankruptcy filing."

A report in the Hartford Courant says that Affinity Health's
President Benjamin Fischman claimed that the state's refusal to
provide Medicaid reimbursement resulted in the company's
bankruptcy.

The state owes Affinity Health more than $4 million, Hartford
Courant states, citing Affinity Health spokesperson Joseph Tyrian.  
Hartford Courant quoted Mr. Tyrian as saying, "We have been trying
to get this money from the state for over seven years."

Mr. Blumenthal countered that it is the state that is owed
$676,000 in taxes, Legal Newsline reports.

New York-based Affinity Health Care Management, Inc. --
http://www.affinityhealth.org/-- operates a hospital.  The  
company and its affiliates filed for Chapter 11 protection on Oct.
14, 2008 (Bankr. S. D. N.Y. Case No. 08-14018).  Gary B. Sachs,
Esq., at Hofheimer Gartlier & Gross, LLP, assists the Debtors in
their restructuring efforts.  Affinity Health listed assets of
$1 million to $10 million and debts of $1 million to $10 million.


AMERICAN COLOR: Completes Prepack Plan, Merger with Vertis Comms
----------------------------------------------------------------
Vertis Communications disclosed that it has consummated its
prepackaged Chapter 11 plan and its merger with American Color
Graphics.

The new combined company, headquartered in Baltimore and
unified under the Vertis Communications brand, has 100 locations
worldwide and nearly 8,000 professionals serving more than 3,000
clients.

"The successful restructuring and merger joins two industry
leaders to become a robust, dynamic and exceptional company,"
Mike DuBose, chairman and CEO of Vertis, said.  "United, we are
solidly positioned to provide premier targeted marketing
solutions through multiple channels.  The new Vertis
Communications has greater capability to deliver results-driven
marketing programs for customers--from strategy development
through point of sale.  We anticipate outstanding opportunities
for our customers, employees, and business partners."

To prepare for the merger of American Color into Vertis,
integration teams comprised of leaders and experts from the two
organizations rigorously analyzed the tools, technology and talent
available, with the goal to leverage the strengths of both
companies in order to better serve customers.   

"The primary objective is to use what's best from both
organizations, truly leveraging our strengths, and reinforcing our
leadership position within the industry," Mr. DuBose added.

The merger integrates American Color's 15 production facilities,
including offset and flexographic print facilities, a Total
Market Coverage location and premedia facilities, well as
numerous managed service sites into Vertis.  American Color's
premedia capabilities include sophisticated design, color and
brand management services for the packaging market, plus a vast
array of business and workflow solutions technologies.  The
combination of these operations and capabilities with Vertis'
market-leading advertising insert production facilities, world-
class premedia, direct marketing, media placement, technology,
interactive and creative services offers customers an unparalleled
combination of solutions and production capabilities to meet their
marketing challenges.

"With a stronger balance sheet, a larger talent pool and enhanced
resources, we are transforming our company and look forward to
working with our customers to leverage our capabilities and
expertise in ways that are unprecedented," Mr. DuBose said.  
"Our customers will be the true beneficiaries of the merger.  
Their advertising campaigns will be enhanced with high-impact
print advertising and relevant interactive communications."

"With the consensual prepackaged restructuring, we were able to
reduce the combined company's debt obligations by approximately
$1 billion before transaction fees and expenses," Mr. DuBose said.
"To be able to do that while maximizing value for our stakeholders
is a major accomplishment and source of pride for everyone who
supported our turnaround plan.  With that behind us, we are
transforming our business to benefit customers, employees and
partners."
Upon emergence, the new Vertis will have a $250 million Senior
Secured Revolving Credit exit facility from GE Commercial Finance
and an approximately $400 million term loan funded by several
lenders.

                     About Vertis Holdings Inc.

Headquartered in Baltimore, Maryland, Vertis Holdings, Inc. --
http://www.vertisinc.com/-- is a provider of targeted print       
advertising and direct marketing solutions to America's retail and
consumer services companies.  The company and its six affiliates
filed for Chapter 11 protection on July 15, 2008 (Bankr. D. Del.
Case No. 08-11460).  Gary T. Holtzer, Esq. and Stephen A.
Youngman, Esq. at Weil, Gotshal & Manges LLP represent the Debtors
as lead counsels.   Mark D. Collins, Esq. and Michael Joseph
Merchant, Esq. at Richards Layton & Finger, P.A. represent the
Debtors as Delaware local counsels.  Lazard Freres & Co. LLC is
the company's financial advisor.  When the Debtors filed for
protection from their creditors they listed assets of between
$500 million and $1 billion and debts of more than $1 billion.

(Vertis Bankruptcy News, Issue 7; Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000)

                  About American Color Graphics

American Color Graphics Inc. -- http://www.americancolor.com/
--         
is one of North America's largest and most experienced full
service premedia and print companies, with eight print locations
across the continent, six regional premedia centers, photography
studios nationwide and a growing roster of customer managed
service sites.  The company provides solutions and services such
as asset management, photography, and digital workflow solutions
that improve the effectiveness of advertising and drive revenues
for their customers.

The company filed and its four affiliates filed for Chapter 11
protection on July 15, 2008 (Bank.D.Del. Case No. 08-11467).
Pauline K. Morgan, Esq. and Sean T. Greecher ,Esq., at Young,
Conaway, Stargatt & Taylor represent the Debtors in their
restructuring efforts.  Lehman Brothers, Inc. serves as the
company's financial advisors.  When the Debtors filed for
protection from their creditors they listed estimated assets of
$100 million to $500 million and estimated debts of $500 million
to $1 billion.

ACG Holdings, Inc. and American Color Graphics also filed
bankruptcy petition under the Companies' Creditors Arrangement Act  
before the Ontario Superior Court of Justice (Commercial List) on
July 16, 2008.  Jay A. Carfagnini, Esq., David B. Bish, Esq., and
Jason Wadden, Esq. at Goodmans LLP are their solicitors.
PricewaterhouseCoopers Inc. serves as their CCAA Information
Officer.


AMERICAN INTERNATIONAL: To Sell Stake in Asian Life-Insurance Biz
-----------------------------------------------------------------
American International Group, Inc., will auction a major stake in
its American International Assurance Co. unit, Rick Carew at The
Wall Street Journal reports, citing people familiar with the
matter.

According to WSJ, the Asian life-insurance business is valued at
more than $20 billion.  Sources said that Goldman Sachs Group,
Inc., and Citigroup, Inc., will run the sale, the report states.  
The sale process is "ramping up" on its planned asset sales
generally, the report says, citing an AIG spokesperson.

Citing bankers, WSJ states that the price for the stake in
American International Assurance could be big, requiring the
breakup of the business into smaller pieces to get a deal done.
The report says that according to Cazenove Group's calculations,
the combined value of AIG's Asian life-insurance assets outside
Japan is around $22.5 billion.

WSJ relates that AIG's CEO Edward Liddy wants to attract buyers
for a minority strategic stake and keep a majority stake in the
business.

                  About American International

Based in New York City, American International Group Inc. --
http://www.aig.com/-- (NYSE: AIG) is an international insurance  
and financial services organization, with operations in more than
130 countries and jurisdictions.  The company is engaged through
subsidiaries in General Insurance, Life Insurance & Retirement
Services, Financial Services and Asset Management.

The company's British headquarters are located on Fenchurch Street
in London, continental Europe operations are based in La Defense,
Paris, and its Asian HQ is in Hong Kong.  AIG owns Ocean Finance,
a United Kingdom based company providing home owner loans,
mortgages and remortgages.  AIG operates in the UK with the brands
AIG UK, AIG Life and AIG Direct.  It has about 3,000 employees,
and sponsors the Manchester United football club.  In response to
redemption demands, AIG Life (UK) suspended redemptions of its AIG
Premier Bond money market fund on Sept. 19, 2008, in order to
provide an orderly withdrawal of assets.

The Federal Reserve Bank of New York has extended to AIG a
revolving credit facility up to $85 billion. AIG's borrowings
under the revolving credit facility will bear interest, for each
day, at a rate per annum equal to three-month Libor plus 8.50%.  
The revolving credit facility will have a 24-month term and will
be secured by a pledge of assets of AIG and various subsidiaries.  
The revolving credit facility will contain affirmative and
negative covenants, including a covenant to pay down the facility
with the proceeds of asset sales.

The summary of terms also provides for a 79.9% equity interest in
AIG.  The corporate approvals and formalities necessary to create
this equity interest will depend upon its form.

In a statement, the company said "AIG is a solid company with over
$1 trillion in assets and substantial equity, but it has been
recently experiencing serious liquidity issues."

Standard & Poor's Ratings Services revised the CreditWatch
status of most of its ratings on the AIG group of companies --
including its 'A-' long-term counterparty credit ratings on
American International Group Inc. and the 'A+' counterparty credit
and financial strength ratings on most of AIG's insurance
operating subsidiaries -- to CreditWatch developing from
CreditWatch negative.   

S&P raised its ratings on preferred stock of International Lease
Finance Corp. (ILFC; A-/Watch Dev/A-1) to 'BBB' from 'B', and
revised the CreditWatch implications to developing from negative.  
All other ILFC ratings remain on CreditWatch with developing
implications.

Fitch Ratings revised its Rating Watch on American International
Group, Inc. to Evolving from Negative.  Fitch viewed this
transaction as a favorable development that alleviates significant
near-term liquidity concerns.

                        *     *     *          

In a U.S. Securities and Exchange Commission filing dated
Aug. 6, 2008, AIG reported a net loss for the second quarter of
2008 of $5.36 billion compared to 2007 second quarter net income
of $4.28 billion.  Second quarter 2008 adjusted net loss was
$1.32 billion, compared to adjusted net income of $4.63 billion
for the second quarter of 2007.  The continuation of the weak U.S.
housing market and disruption in the credit markets, as well as
global equity market volatility, had a substantial adverse effect
on AIG's results in the second quarter.

Net loss for the first six months of 2008 was $13.16 billion,
compared to net income of $8.41 billion in the first six months
of 2007.  Adjusted net loss for the first six months of 2008 was
$4.88 billion, compared to adjusted net income of $9.02 billion in
the first six months of 2007.


AMERICREDIT AUTO: Moody's Takes Rating Actions on Various Classes
-----------------------------------------------------------------
Rating action for three AmeriCredit Automobile Receivables Trust
transactions were omitted in the September 17, 2008 release.

The additional rating actions are:

Issuer: AmeriCredit Automobile Receivables Trust 2005-B-M

  -- Cl. A-3, currently A2, on review for possible downgrade

Financial Guarantor: MBIA Insurance Corporation (A2, on review for
possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently A3

  -- Cl. A-4, currently A2, on review for possible downgrade

Financial Guarantor: MBIA Insurance Corporation (A2, on review for
possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,      
     currently A3

Issuer: AmeriCredit Automobile Receivables Trust 2007-B-F

  -- Cl. A-2, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

  -- Cl. A-3a, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

  -- Cl. A-3b, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

  -- Cl. A-4, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

Issuer: AmeriCredit Automobile Receivables Trust 2007-D-F

  -- Cl. A-2a, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

  -- Cl. A-2b, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

  -- Cl. A-3a, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

  -- Cl. A-3b, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

  -- Cl. A-4a, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

  -- Cl. A-4b, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

The underlying ratings reflect the intrinsic credit quality of the
notes in the absence of the guarantee.  The ratings on securities
that are guaranteed or "wrapped" by a financial guarantor is the
higher of a) the rating of the guarantor or b) the published
underlying rating.  The   -- Current Ratings on the below notes
are consistent with Moody's practice of rating insured securities
at the higher of the guarantor's insurance financial strength
rating and any underlying rating that is public.

The updated press release is as follows:

On 15 September 2008, Lehman Brothers Holdings Inc announced that
it intends to file a petition under Chapter 11 of the U.S.
Bankruptcy Code.  Also, on 15 September, Moody's Investors Service
downgraded the senior ratings of LBHI, and those of certain
guaranteed subsidiaries, to B3 under Review for further downgrade
from A2.

As a result of Lehman's bankruptcy and rating downgrade, Moody's
has today placed the following RMBS and ABS ratings on review for
possible downgrade:

Issuer: AmeriCredit Automobile Receivables Trust 2005-B-M

  -- Cl. A-3, currently A2, on review for possible downgrade

Financial Guarantor: MBIA Insurance Corporation (A2, on review for
possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently A3

  -- Cl. A-4, currently A2, on review for possible downgrade

Financial Guarantor: MBIA Insurance Corporation (A2, on review for
possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently A3

Issuer: AmeriCredit Automobile Receivables Trust 2007-B-F

  -- Cl. A-2, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

  -- Cl. A-3a, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

  -- Cl. A-3b, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

  -- Cl. A-4, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

Issuer: AmeriCredit Automobile Receivables Trust 2007-D-F

  -- Cl. A-2a, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

  -- Cl. A-2b, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

  -- Cl. A-3a, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

  -- Cl. A-3b, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

  -- Cl. A-4a, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Baa2

  -- Cl. A-4b, currently Aaa, on review for possible downgrade

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,  
     currently Baa2

Issuer: CWALT, Inc. Mortgage Pass-Through Certificates, Series
2006-OC10

  -- Cl. 1-A, Placed on Review for Possible Downgrade, currently
     Ba1

  -- Cl. 2-A-1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 2-A-2A, Placed on Review for Possible Downgrade,
     currently A1

  -- Cl. 2-A-3, Placed on Review for Possible Downgrade, currently
     Ba2

  -- Cl. 2-A-2B, Placed on Review for Possible Downgrade,
     currently Ba3

Issuer: CWALT, Inc. Mortgage Pass-Through Certificates, Series
2006-OC3

  -- Cl. A-R, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A-1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A-2, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. 2-A-1, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 2-A-2, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. 2-A-3, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     B3

Issuer: CWALT, Inc. Mortgage Pass-Through Certificates, Series
2006-OC6

  -- Cl. A-R, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A, Placed on Review for Possible Downgrade, currently
     Ba1

  -- Cl. 2-A-1, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 2-A-2A, Placed on Review for Possible Downgrade,
     currently Aa1

  -- Cl. 2-A-2B, Placed on Review for Possible Downgrade,
     currently Ba3

  -- Cl. 2-A-3, Placed on Review for Possible Downgrade, currently
     Ba2

Issuer: CWALT, Inc. Mortgage Pass-Through Certificates, Series
2006-OC7

  -- Cl. 1-A, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. 2-A-1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 2-A-2A, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 2-A-2B, Placed on Review for Possible Downgrade,
     currently Ba2

  -- Cl. 2-A-3, Placed on Review for Possible Downgrade, currently
     Ba1

Issuer: CWALT, Inc. Mortgage Pass-Through Certificates, Series
2006-OC8

  -- Cl. 1-A-1, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. 1-A-2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A-3, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. 2-A-1A, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 2-A-1B, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 2-A-1C, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 2-A-1D, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 2-A-1E, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 2-A-2A, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 2-A-2B, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 2-A-2C, Placed on Review for Possible Downgrade,
     currently Ba2

  -- Cl. 2-A-3, Placed on Review for Possible Downgrade, currently      
     Ba1

Issuer: CWALT, Inc. Mortgage Pass-Through Certificates, Series
2007-OH2

  -- Cl. A-R, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-1-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-1-B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-2-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-2-B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-3, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     Ba1

  -- Cl. M-2, Placed on Review for Possible Downgrade, currently
     Ba2

  -- Cl. M-3, Placed on Review for Possible Downgrade, currently
     Ba3

  -- Cl. M-4, Placed on Review for Possible Downgrade, currently
     B1

Issuer: CWALT, Inc. Mortgage Pass-Through Certificates, Series
2007-OH3

  -- Cl. A-R, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-1-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-1-B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-3, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     Ba3

  -- Cl. M-2, Placed on Review for Possible Downgrade, currently
     B1

Issuer: GreenPoint Mortgage Funding Trust 2006-AR5

  -- Cl. 1-A1A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A1B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2A1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A2A2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A2A2U, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A2B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3A1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A3A2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A3A2U, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A3B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently A1

  -- Cl. M2, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. M3, Placed on Review for Possible Downgrade, currently B2

Issuer: GreenPoint Mortgage Funding Trust 2006-AR6

  -- Cl. 1-A1A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A1AU, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A2A1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A2A2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A2A2U, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A2B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2BU, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A3A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3BU, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently A1

  -- Cl. M2, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. M3, Placed on Review for Possible Downgrade, currently
     Ba3

Issuer: GreenPoint Mortgage Funding Trust 2006-AR7

  -- Cl. 1-A1A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A1B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2A1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A2A2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A3A1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A3A2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A3B, Placed on Review for Possible Downgrade, currently
     Aaa

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 2-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently A1

  -- Cl. M2, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. M3, Placed on Review for Possible Downgrade, currently
     Ba3

Issuer: GreenPoint Mortgage Funding Trust 2006-AR8

  -- Cl. 1-A1A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A1B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M2, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. M3, Placed on Review for Possible Downgrade, currently
     Ba3

  -- Cl. M4, Placed on Review for Possible Downgrade, currently B1

Issuer: Greenpoint Mortgage Funding Trust 2007-AR1

  -- Cl. 1-A1A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A1B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A1A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A1B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1-I, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. M2-I, Placed on Review for Possible Downgrade, currently
     A3

  -- Cl. M3-I, Placed on Review for Possible Downgrade, currently
     Ba2

  -- Cl. M4-I, Placed on Review for Possible Downgrade, currently
     Ba3

  -- Cl. M1-II, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. M2-II, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. M3-II, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. M4-II, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. M5-II, Placed on Review for Possible Downgrade, currently
     Ba2

Issuer: Impac Secured Assets Corp. Mortgage Pass-Through
Certificates, Series 2007-3

  -- Cl. A1-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A1-B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A1-C, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. AM, currently Aa3

Financial Guarantor: Ambac Assurance Corporation (Aa3, negative
outlook)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Ba2

Issuer: IndyMac INDX Mortgage Loan Trust 2006-AR14

  -- Cl. 1-A1A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A1B, Placed on Review for Possible Downgrade, currently
     Ba1

  -- Cl. 1-A2A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3B, Placed on Review for Possible Downgrade, currently
     Ba1

  -- Cl. 1-A4A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A1AU, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A2AU, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A3AU, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A3BU, Placed on Review for Possible Downgrade,
     currently Ba1

  -- Cl. 1-A4AU, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 2-A, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. 2-AX, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     B1

Issuer: IndyMac INDX Mortgage Loan Trust 2006-AR8

  -- Cl. A2-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A2-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A2-B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A3-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A4-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A3-B, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. A4-B, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     Ba2

Issuer: Lehman Mortgage Trust 2005-2

  -- Cl. AP, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A6, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A6, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A7, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. R, Placed on Review for Possible Downgrade, currently Aaa

  -- Cl. AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. PAX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. B1(1-3), Placed on Review for Possible Downgrade,
     currently A2

  -- Cl. B2(1-3), Placed on Review for Possible Downgrade,
     currently A3

  -- Cl. B3(1-3), Placed on Review for Possible Downgrade,
     currently Ba1

  -- Cl. B4(1-3), Placed on Review for Possible Downgrade,
     currently Ba3

Issuer: Lehman Mortgage Trust 2005-3

  -- Cl. R, Placed on Review for Possible Downgrade, currently Aaa

  -- Cl. AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. PAX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 1-A2, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 1-A6, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 1-A7, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A8, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 1-A9, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A2, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 1-A3, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 1-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A2, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 2-A3, Placed on Review for Possible Downgrade, currently      
     Aa1

  -- Cl. 2-A4, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 2-A5, Placed on Review for Possible Downgrade, currently
     Aa1

Financial Guarantor: MBIA Insurance Corporation (A2, negative
outlook)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Aa1

  -- Cl. 2-A6, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 2-A7, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 2-A8, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 2-A9, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 3-A1, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 1-A10, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 1-A11, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 1-A12, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. AP, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. B1, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. B2, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. B3, Placed on Review for Possible Downgrade, currently B1

  -- Cl. B4, Placed on Review for Possible Downgrade, currently B2

Issuer: Lehman Mortgage Trust 2006-1

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3, Placed on Review for Possible Downgrade, currently      
     Aaa

  -- Cl. 1-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A6, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A6, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 4-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A2, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. R, Placed on Review for Possible Downgrade, currently Aaa

  -- Cl. AP, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. PAX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. B1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. B2, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. B3, Placed on Review for Possible Downgrade, currently B1

Issuer: Lehman Mortgage Trust 2006-3

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 1-A3, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 1-A4, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 1-A5, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 1-A6, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 1-A7, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 1-A8, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 1-A9, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 1-A10, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A11, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 1-A12, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A13, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 2-A1, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. 2-A2, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. 3-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A2, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 3-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. R, Placed on Review for Possible Downgrade, currently Aaa

  -- Cl. AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M, Placed on Review for Possible Downgrade, currently Ba3

Issuer: Lehman Mortgage Trust 2006-7

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 1-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A4, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 1-A5, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 1-A6, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 1-A7, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 1-A8, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 1-A9, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 1-A10, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. AP, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. R, Placed on Review for Possible Downgrade, currently Aaa

  -- Cl. 2-A1, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 2-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A3, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. 2-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A6, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 2-A7, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A8, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. 2-A9, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 2-A10, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A11, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. 3-A1, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 3-A2, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 3-A3, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 3-A4, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 3-A5, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 3-A6, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 3-A7, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 4-A1, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 4-A2, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 5-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A3, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. 5-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A5, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. 5-A6, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A7, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. M, Placed on Review for Possible Downgrade, currently Ba3

Issuer: Lehman Mortgage Trust 2007-5

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A6, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A7, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A8, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 1-A9, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A10, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A11, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 1-A12, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. AX1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. AX2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. AP2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. PO1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1M, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 2-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A4, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 2B1, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 2B2, Placed on Review for Possible Downgrade, currently
     Ba1

  -- Cl. 3-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A6, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A7, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A8, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 3-A9, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A10, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 4-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A6, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 6-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 7-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 7-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 7-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 7-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 7-A5, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 8-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 8-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 8-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 8-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 8-A5, Placed on Review for Possible Downgrade, currently
     Aa1

Issuer: Lehman XS Trust 2006-17

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. 1-A2, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. 1-A3, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. 1-A4A, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 1-A4B, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. 1-AIO, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. WF-1-1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. WF-1-2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. WF-2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. WF-3-1, Placed on Review for Possible Downgrade,
     currently Aa2

Financial Guarantor: MBIA Insurance Corporation (A2, negative
outlook)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Aa2

  -- Cl. WF-3-2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. WF-3-3, Placed on Review for Possible Downgrade,
     currently Aa3

  -- Cl. WF-4-1, Placed on Review for Possible Downgrade,
     currently Aa2

Financial Guarantor: MBIA Insurance Corporation (A2, negative
outlook)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Aa2

  -- Cl. WF-4-2, Placed on Review for Possible Downgrade,
     currently Aa2

  -- Cl. WF-5, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. WF-6-1, Placed on Review for Possible Downgrade,
     currently Aa3

Financial Guarantor: MBIA Insurance Corporation (A2, negative
outlook)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Aa3

  -- Cl. WF-6-2, Placed on Review for Possible Downgrade,
     currently Aa3

  -- Cl. WF-M1, Placed on Review for Possible Downgrade, currently
     Baa3

Issuer: Lehman XS Trust 2006-19

  -- Cl. A1, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. A2, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. A3, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. A4, Placed on Review for Possible Downgrade, currently A3

Issuer: Lehman XS Trust Series 2005-1

  -- Cl. 1-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A2A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A2B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A3A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A3B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-AIO, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-M1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 3-M2, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. 3-M3, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. M1, Placed on Review for Possible Downgrade, currently A1

  -- Cl. M2, Placed on Review for Possible Downgrade, currently
     Ba1

Issuer: Lehman XS Trust Series 2005-10

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Ba1

  -- Cl. 1-A3, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 1-A4, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. 1-A5, currently Ba2

Financial Guarantor: CIFG (Ba2)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Ba2

  -- Cl. 2-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A2, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 2-A3A, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 2-A3B, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 2-A4A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A4B, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. 2-A5A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A5B, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. 2-M1, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. 2-M2, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. 2-M3, Placed on Review for Possible Downgrade, currently
     B3

Issuer: Lehman XS Trust Series 2005-6

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A2A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A2B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A2C, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A3A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A3B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A4A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A4B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-M1, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. 3-M2, Placed on Review for Possible Downgrade, currently
     Ba2

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Baa3

Issuer: Lehman XS Trust Series 2005-9N

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3, currently Aa3

Financial Guarantor: Ambac Assurance Corporation (Aa3, negative
outlook)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Aa3

  -- Cl. 2-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A2, currently Aa3

Financial Guarantor: Ambac Assurance Corporation (Aa3, negative
outlook)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Aa3

  -- Cl. M1, Placed on Review for Possible Downgrade, currently A3

  -- Cl. M2, Placed on Review for Possible Downgrade, currently
     Ba1

  -- Cl. M3, Placed on Review for Possible Downgrade, currently B1

Issuer: Lehman XS Trust Series 2006-12N

  -- Cl. 1-A1A1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A1A2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A2A1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A2A2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A3A1B, Placed on Review for Possible Downgrade,
     currently A2

  -- Cl. 1-A3A2B, Placed on Review for Possible Downgrade,
     currently A2

  -- Cl. 1-A3A1A, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A3A2A, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A1B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2B, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 1-A4A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A4B, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. 2-A1A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A1B, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Ba2

Issuer: Lehman XS Trust Series 2006-13

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 1-A3, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 1-A4, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 1-A5, Placed on Review for Possible Downgrade, currently
     B2

  -- Cl. 2-A1, Placed on Review for Possible Downgrade, currently
     Ba2

Issuer: Lehman XS Trust Series 2006-15

  -- Cl. A1, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. A2, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. A3, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. A4, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. A5, Placed on Review for Possible Downgrade, currently B2

Issuer: Lehman XS Trust Series 2006-16N

  -- Cl. 1-A1A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A1B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2AU, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A2B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A31, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A32A1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A32A2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A31U, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A32A1U, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A32B, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A4A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A4B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A4C, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently A3
  -- Cl. M2, Placed on Review for Possible Downgrade, currently B1

Issuer: Lehman XS Trust Series 2006-18N

  -- Cl. A1A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A1B, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A2A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A3, Placed on Review for Possible Downgrade, currently A1
  -- Cl. A4, Placed on Review for Possible Downgrade, currently A1
  -- Cl. A5A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently A3
  -- Cl. M2, Placed on Review for Possible Downgrade, currently B1

Issuer: Lehman XS Trust Series 2006-8

  -- Cl. 1-A1A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A1B, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. 2-A1, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 2-A3, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 2-A4A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A4B, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. 3-A1A, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 3-A1B, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 3-A2, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 3-A3, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 3-A4, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 3-A5, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. M2, Placed on Review for Possible Downgrade, currently
     Ba3

Issuer: Lehman XS Trust Series 2007-2N

  -- Cl. 1-A1A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A1B, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. 1-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 2-AX, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 3-A1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 3-A2, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 3-A3, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 3-AX, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. M2, Placed on Review for Possible Downgrade, currently
     Ba3

  -- Cl. M3, Placed on Review for Possible Downgrade, currently B1

Issuer: Lehman XS Trust Series 2007-4N

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 1-A2A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2B, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. 1-A3, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 1-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-AP, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 2-AX, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 2-AP, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A1A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A2A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A2B, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. 3-AC, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. 3-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-AP, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently A3
  -- Cl. M2, Placed on Review for Possible Downgrade, currently
     Ba2

  -- Cl. M3, Placed on Review for Possible Downgrade, currently B1

Issuer: RALI Series 2006-QO8 Trust

  -- Cl. I-A1A, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. I-A1AU, Placed on Review for Possible Downgrade,
     currently A2

  -- Cl. I-A1B, Placed on Review for Possible Downgrade, currently
     Ba3

  -- Cl. I-A2A, Placed on Review for Possible Downgrade, currently
     A3

  -- Cl. I-A2AU, Placed on Review for Possible Downgrade,
     currently A3

  -- Cl. I-A3A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. I-A3B, Placed on Review for Possible Downgrade, currently
     Ba3

  -- Cl. I-A4A, Placed on Review for Possible Downgrade, currently
     A3

  -- Cl. I-A4B, Placed on Review for Possible Downgrade, currently
     Ba3

  -- Cl. I-A5A, Placed on Review for Possible Downgrade, currently
     A3

  -- Cl. I-A5AU, Placed on Review for Possible Downgrade,
     currently A3

  -- Cl. I-AX, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. II-A, Placed on Review for Possible Downgrade, currently
     Ba1

  -- Cl. II-AX, Placed on Review for Possible Downgrade, currently
     Ba1

Issuer: RALI Series 2006-QO9 Trust

  -- Cl. AXP, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. I-A1A, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. I-A1B, Placed on Review for Possible Downgrade, currently
     Ba2

  -- Cl. I-A1BU, Placed on Review for Possible Downgrade,
     currently Ba2

  -- Cl. I-A2A, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. I-A2AU, Placed on Review for Possible Downgrade,
     currently A1

  -- Cl. I-A3A, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. I-A3AU, Placed on Review for Possible Downgrade,
     currently A1

  -- Cl. I-A3B, Placed on Review for Possible Downgrade, currently
     Ba2

  -- Cl. I-A3BU, Placed on Review for Possible Downgrade,
     currently Ba2

  -- Cl. I-A4A, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. I-A4AU, Placed on Review for Possible Downgrade,
     currently A1

  -- Cl. II-A, Placed on Review for Possible Downgrade, currently
     Ba1

Issuer: Residential Asset Securitization Trust 2006-A15

  -- Cl. A-10, Placed on Review for Possible Downgrade, currently
     Aaa

Issuer: Structured Adjustable Rate Mortgage Loan Trust 2004-1

  -- Cl. R, Placed on Review for Possible Downgrade, currently Aaa
  -- Cl. 1-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-PAX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 6-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 6-AX, Placed on Review for Possible Downgrade, currently
     Aaa

Issuer: Structured Adjustable Rate Mortgage Loan Trust 2004-10

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. R, Placed on Review for Possible Downgrade, currently Aaa

Issuer: Structured Adjustable Rate Mortgage Loan Trust 2004-12

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 6-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 7-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 7-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 7-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 7-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 8-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 9-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. R, Placed on Review for Possible Downgrade, currently Aaa

  -- Cl. B1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. B1-X, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. B3, Placed on Review for Possible Downgrade, currently A2

  -- Cl. B3-X, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. B5, Placed on Review for Possible Downgrade, currently
     Baa2

Issuer: Structured Adjustable Rate Mortgage Loan Trust 2004-14

  -- Cl. 1-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-PAX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-PAX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 6-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 7-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. R, Placed on Review for Possible Downgrade, currently Aaa
  -- Cl. B1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. B1-X, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. B3, Placed on Review for Possible Downgrade, currently A2
  -- Cl. B3-X, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. B5, Placed on Review for Possible Downgrade, currently
     Baa2

Issuer: Structured Adjustable Rate Mortgage Loan Trust 2004-18

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-PAX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. R, Placed on Review for Possible Downgrade, currently Aaa
  -- Cl. M, Placed on Review for Possible Downgrade, currently Aa1
  -- Cl. MX, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. B1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. B1X, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. B3, Placed on Review for Possible Downgrade, currently A2
  -- Cl. B3X, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. B5, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. B5X, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. B6, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. B6X, Placed on Review for Possible Downgrade, currently
     Baa3

Issuer: Structured Adjustable Rate Mortgage Loan Trust 2004-2

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-PAX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. R, Placed on Review for Possible Downgrade, currently Aaa

Issuer: Structured Adjustable Rate Mortgage Loan Trust 2004-20

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. R, Placed on Review for Possible Downgrade, currently Aaa
  -- Cl. B1, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. B1X, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. B2, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. B-2X, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. B3, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. B3X, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. B5, Placed on Review for Possible Downgrade, currently A2
  -- Cl. B5X, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. B7, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. B7X, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. B8, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. B8X, Placed on Review for Possible Downgrade, currently
     Baa3

Issuer: Structured Adjustable Rate Mortgage Loan Trust 2004-6

  -- Cl. 1-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A-1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 6-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. R, Placed on Review for Possible Downgrade, currently Aaa

Issuer: Structured Adjustable Rate Mortgage Loan Trust 2004-9XS

  -- Cl. A, Placed on Review for Possible Downgrade, currently Aaa

Issuer: Structured Adjustable Rate Mortgage Loan Trust 2005-1

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 6-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. R, Placed on Review for Possible Downgrade, currently Aaa
  -- Cl. B1, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. B1X, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. B2, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. B2X, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. B3, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. B3X, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. B5, Placed on Review for Possible Downgrade, currently A3
  -- Cl. B5X, Placed on Review for Possible Downgrade, currently
     A3

  -- Cl. B7, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. B7X, Placed on Review for Possible Downgrade, currently
     Baa2

Issuer: Structured Adjustable Rate Mortgage Loan Trust 2007-2

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. 1-A3, Placed on Review for Possible Downgrade, currently
     B3

Issuer: Structured Adjustable Rate Mortgage Loan Trust 2007-4

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 1-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 1-A4, Placed on Review for Possible Downgrade, currently
     Ba2

  -- Cl. 1-AP, Placed on Review for Possible Downgrade, currently
     Aaa

Issuer: Structured Adjustable Rate Mortgage Loan Trust, Mortgage
Pass-Through Certificates, Series 2006-11

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2, Placed on Review for Possible Downgrade, currently
     Baa3

Issuer: Structured Adjustable Rate Mortgage Loan Trust, Series
2008-1

  -- Cl. A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A1X, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A21, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A22, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. AP, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. R, Placed on Review for Possible Downgrade, currently Aaa

Issuer: Structured Asset Securities Corp Trust 2003-37A

  -- Cl. 1-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A6, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A7, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A8, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-PAX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 4-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-AX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 5-PAX, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 6-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 7-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 8-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 8-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. R, Placed on Review for Possible Downgrade, currently Aaa
  -- Cl. B1-I, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. B1-I-X, Placed on Review for Possible Downgrade,
     currently Aa2

Issuer: Structured Asset Securities Corp Trust 2004-23XS

  -- Cl. 1-A2A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2B, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 1-A3A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3B, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 1-A3C, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3D, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-AIO, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M2, Placed on Review for Possible Downgrade, currently A2
  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. M3, Placed on Review for Possible Downgrade, currently
     Baa2

Issuer: Structured Asset Securities Corp Trust 2005-9XS

  -- Cl. 1-A1A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A1B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2C, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 1-A3A, Placed on Review for Possible Downgrade, currently
     Aaa

Financial Guarantor: Ambac Assurance Corporation (Aa3)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A3B, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A3C, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 1-A3D, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A3, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 2-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently A1
  -- Cl. M2, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. M3, Placed on Review for Possible Downgrade, currently
     Ba3

  -- Cl. M4, Placed on Review for Possible Downgrade, currently B2

Issuer: Structured Asset Securities Corp Trust 2007-4

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A2-A, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A2-B1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A2-B2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A2, Placed on Review for Possible Downgrade, currently
     Aaa

Issuer: Structured Asset Securities Corporation 2005-GEL1

  -- Cl. A, Placed on Review for Possible Downgrade, currently Aaa
  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. M2, Placed on Review for Possible Downgrade, currently A2
  -- Cl. M3, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. M4, Placed on Review for Possible Downgrade, currently
     Baa3

Issuer: Wells Fargo Mortgage Backed Securities 2008-AR2 Trust

  -- Cl. A-1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-IO, Placed on Review for Possible Downgrade, currently
     Aaa

Issuer: Access Group, Inc. Private Student Loan Asset-Backed
Floating Rate Notes, Series 2007-A

  -- 2007-A-A-1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- 2007-A-A-2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- 2007-A-A-3, Placed on Review for Possible Downgrade,
     currently Aaa

  -- 2007-A-B, Placed on Review for Possible Downgrade, currently
     A3

Issuer: Access Group, Inc., Private Student Loan Asset-Backed
Floating Rate Notes, Series 2005-A

  -- 2005-A-A-1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- 2005-A-A-2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- 2005-A-A-3, Placed on Review for Possible Downgrade,
     currently Aaa

  -- 2005-A-B-1, Placed on Review for Possible Downgrade,
     currently A3

Issuer: Aircraft Finance Trust. Series 1999-1

  -- Class A-1, Placed on Review for Possible Downgrade, currently
     B1

  -- Class A-2, Placed on Review for Possible Downgrade, currently
     Baa1

Issuer: Astrea LLC

  -- Cl. A-1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. B-1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. B-2, Placed on Review for Possible Downgrade, currently
     Aa2

Issuer: LBSBC Net Interest Margin Notes, Series 2006-1

  -- Cl. N1, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. N2, Placed on Review for Possible Downgrade, currently
     Ba2

  -- Cl. N3, Placed on Review for Possible Downgrade, currently B2

Issuer: LBSBC Net Interest Margin Notes, Series 2007-2

  -- Cl. N1, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. N2, Placed on Review for Possible Downgrade, currently
     Ba2

  -- Cl. N3, Placed on Review for Possible Downgrade, currently B2

Issuer: LBSBC Net Interest Margin Securities, Series 2005-1

  -- Class N3, Placed on Review for Possible Downgrade, currently
     B2

Issuer: LBSBC Net Interest Margin Securities, Series 2005-2

  -- Cl. N1, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. N2, Placed on Review for Possible Downgrade, currently
     Ba3

  -- Cl. N3, Placed on Review for Possible Downgrade, currently B2

Issuer: LBSBC Net Interest Margin Securities, Series 2006-2

  -- Cl. N1, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. N2, Placed on Review for Possible Downgrade, currently
     Ba2

  -- Cl. N3, Placed on Review for Possible Downgrade, currently B2

Issuer: LBSBC Net Interest Margin Securities, Series 2006-3

  -- Cl. N1, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. N2, Placed on Review for Possible Downgrade, currently
     Ba2

  -- Cl. N3, Placed on Review for Possible Downgrade, currently B2

Issuer: Lehman Brothers Small Balance Commercial Mortgage Pass
Through Certificates, Series 2005-2

  -- Cl. 1-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-IO, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. M2, Placed on Review for Possible Downgrade, currently A1
  -- Cl. M3, Placed on Review for Possible Downgrade, currently A3
  -- Cl. B, Placed on Review for Possible Downgrade, currently
     Baa2

Issuer: Lehman Brothers Small Balance Commercial Mortgage Pass-
Through Certficates, Series 2006-3

  -- Cl. 1A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. M2, Placed on Review for Possible Downgrade, currently A1
  -- Cl. M3, Placed on Review for Possible Downgrade, currently A3
  -- Cl. B, Placed on Review for Possible Downgrade, currently
     Baa2

Issuer: Lehman Brothers Small Balance Commercial Mortgage Pass-
Through Certificates, Series 2005-1

  -- Cl. A, Placed on Review for Possible Downgrade, currently Aaa
  -- Cl. A-IO, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. M2, Placed on Review for Possible Downgrade, currently A2
  -- Cl. B, Placed on Review for Possible Downgrade, currently
     Baa1

Issuer: Lehman Brothers Small Balance Commercial Mortgage Pass-
Through Certificates, Series 2006-1

  -- Cl. 1A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. M2, Placed on Review for Possible Downgrade, currently A1
  -- Cl. M3, Placed on Review for Possible Downgrade, currently A3
  -- Cl. B, Placed on Review for Possible Downgrade, currently
     Baa2

Issuer: Lehman Brothers Small Balance Commercial Mortgage Pass-
Through Certificates, Series 2006-2

  -- Cl. 1A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. M2, Placed on Review for Possible Downgrade, currently A1
  -- Cl. M3, Placed on Review for Possible Downgrade, currently A3
  -- Cl. B, Placed on Review for Possible Downgrade, currently
     Baa2

Issuer: Lehman Brothers Small Balance Commercial Mortgage Pass-
Through Certificates, Series 2007-1

  -- Cl. 1A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. M2, Placed on Review for Possible Downgrade, currently A1

  -- Cl. M3, Placed on Review for Possible Downgrade, currently A3
  -- Cl. M4, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. B, Placed on Review for Possible Downgrade, currently
     Baa3

Issuer: Lehman Brothers Small Balance Commercial Mortgage Pass-
Through Certificates, Series 2007-2

  -- Cl. 1A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. M2, Placed on Review for Possible Downgrade, currently A1
  -- Cl. M3, Placed on Review for Possible Downgrade, currently A3
  -- Cl. M4, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. M5, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. B, Placed on Review for Possible Downgrade, currently Ba1

Issuer: Lehman Brothers Small Balance Commercial Mortgage Pass-
Through Certificates, Series 2007-3

  -- Cl. 1A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. AJ, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. AM, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. M2, Placed on Review for Possible Downgrade, currently A1
  -- Cl. M3, Placed on Review for Possible Downgrade, currently A3
  -- Cl. M4, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. M5, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. B, Placed on Review for Possible Downgrade, currently Ba1

Issuer: SLM Student Loan Trust 2004-1

  -- Cl. A-1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-6, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. B, Placed on Review for Possible Downgrade, currently Aa1

Issuer: SWIFT Master Auto Receivables Trust, Series 2007-1

  -- Cl. A, Placed on Review for Possible Downgrade, currently Aaa
  -- Cl. B, Placed on Review for Possible Downgrade, currently Aaa
  -- Cl. C, Placed on Review for Possible Downgrade, currently Aaa
  -- Cl. D, Placed on Review for Possible Downgrade, currently Aaa

Issuer: BNC Mortgage Loan Trust 2007-1

  -- Cl. A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. M2, Placed on Review for Possible Downgrade, currently B1

Issuer: CWABS Asset-Backed Certificates Trust 2004-14

  -- Cl. A-3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-R, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. M-2, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. M-3, Placed on Review for Possible Downgrade, currently
     Aa3

Issuer: CWABS Asset-Backed Certificates Trust 2005-15

  -- Cl. 1-AF-1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-AF-2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-AF-3, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-AF-4, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-AF-5, Placed on Review for Possible Downgrade,
     currently Aaa

Financial Guarantor: Financial Security Assurance Inc. (Aaa, on
review for possible downgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 1-AF-6, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 2-AV-2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 2-AV-3, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. A-R, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. M-2, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. M-3, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. M-4, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. M-5, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. M-6, Placed on Review for Possible Downgrade, currently
     A3

  -- Cl. M-7, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. M-8, Placed on Review for Possible Downgrade, currently
     Ba1

Issuer: CWABS Asset-Backed Certificates Trust 2005-AB5

  -- Cl. 1-A-1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A-1M, Placed on Review for Possible Downgrade,
     currently Aa3

  -- Cl. 2-A-2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A-3, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 2-A-2M, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 2-A-3M, Placed on Review for Possible Downgrade,
     currently Aa3

  -- Cl. A-R, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. M-2, Placed on Review for Possible Downgrade, currently
     B1

Issuer: CWABS Asset-Backed Certificates Trust 2005-BC5

  -- Cl. 1-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A-1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A2, Placed on Review for Possible Downgrade, currently
     Aaa

Financial Guarantor: Syncora Guarantee (B2, on review for possible
upgrade)

  -- Underlying Rating: Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 3-A-2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-A-3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-R, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. M-2, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. M-3, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. M-4, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. M-5, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. M-6, Placed on Review for Possible Downgrade, currently
     A3

  -- Cl. M-7, Placed on Review for Possible Downgrade, currently
     Baa3

Issuer: CWABS Asset-Backed Certificates Trust 2006-13

  -- Cl. 2-AV, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 3-AV-1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 3-AV-2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 3-AV-3, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. MV-1, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. MV-2, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. MV-3, Placed on Review for Possible Downgrade, currently
     Ba2

Issuer: CWABS Asset-Backed Certificates Trust 2006-14

  -- Cl. 1-A, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 2-A-1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A-2, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 2-A-3, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. A-R, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     Baa3

Issuer: CWABS Asset-Backed Certificates Trust 2006-16

  -- Cl. 1-A, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 2-A-1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A-2, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 2-A-3, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     Baa3

Issuer: CWABS Asset-Backed Certificates Trust 2006-19

  -- Cl. 1-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A-1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A-2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A-3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     A3

Issuer: CWABS Asset-Backed Certificates Trust 2006-22

  -- Cl. 1-A, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 2-A-1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A-2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A-3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A-4, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. A-R, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     Baa3

Issuer: CWABS Asset-Backed Certificates Trust 2006-4

  -- Cl. 1-A-1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A-1M, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. 2-A-2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A-3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-R, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. M-2, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. M-3, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. M-4, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. M-5, Placed on Review for Possible Downgrade, currently
     Ba1

Issuer: CWABS Asset-Backed Certificates Trust 2006-BC2

  -- Cl. 1-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A-2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A-3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A-4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-R, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. M-2, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. M-3, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. M-4, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. M-5, Placed on Review for Possible Downgrade, currently
     Baa3

Issuer: CWABS Asset-Backed Certificates Trust 2007-12

  -- Cl. 1-A-1, Placed on Review for Possible Downgrade, currently
     Aaa

Issuer: CWABS Asset-Backed Certificates Trust 2007-6

  -- Cl. 1-A, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. 2-A-1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 2-A-2, Placed on Review for Possible Downgrade, currently
     A1

  -- Cl. 2-A-3, Placed on Review for Possible Downgrade, currently
     A3

  -- Cl. 2-A-4, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. A-R, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     B1

Issuer: CWABS Asset-Backed Certificates Trust 2007-BC2

  -- Cl. 1-A, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. A-R, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A-1, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 2-A-2, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. 2-A-3, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. 2-A-4, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     B1

Issuer: Encore Credit Corp. Series 2003-1

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. M2, Placed on Review for Possible Downgrade, currently A2

Issuer: Fremont Home Loan Trust 2006-E

  -- Cl. 1-A1, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 2-A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A3, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. 2-A4, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Baa3

Issuer: Nomura Home Equity Loan, Inc., Home Equity Loan Trust,
Series 2007-3

  -- Cl. I-A-1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. II-A-1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. II-A-2, Placed on Review for Possible Downgrade,
     currently Aa2

  -- Cl. II-A-3, Placed on Review for Possible Downgrade,
     currently Aa3

  -- Cl. II-A-4, Placed on Review for Possible Downgrade,
     currently A2

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     Ba2

Issuer: Option One Mortgage Loan Trust 2007-1

  -- Cl. I-A-1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. I-A-2, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. II-A-1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. II-A-2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. II-A-3, Placed on Review for Possible Downgrade,
     currently Aa2

  -- Cl. II-A-4, Placed on Review for Possible Downgrade,
     currently A1

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     Ba2

Issuer: Option One Mortgage Loan Trust 2007-3

  -- Cl. I-A-1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. II-A-1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. II-A-2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. II-A-3, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. II-A-4, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     A3

Issuer: Option One Mortgage Loan Trust 2007-4

  -- Cl. I-A-1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. II-A-1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. II-A-2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. II-A-3, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. II-A-4, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     A3

  -- Cl. M-2, Placed on Review for Possible Downgrade, currently
     B1

Issuer: Option One Mortgage Loan Trust 2007-5

  -- Cl. I-A-1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. II-A-1, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. II-A-2, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. II-A-3, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. II-A-4, Placed on Review for Possible Downgrade,
     currently Aaa

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     A1

Issuer: Structured Asset Investment Loan Trust 2005-1

  -- Cl. A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A7, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M4, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. M5, Placed on Review for Possible Downgrade, currently
     Ba1

  -- Cl. M6, Placed on Review for Possible Downgrade, currently B1
  -- Cl. M7, Placed on Review for Possible Downgrade, currently B3

Issuer: Structured Asset Investment Loan Trust 2005-2

  -- Cl. A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A6, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. M4, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. M5, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. M6, Placed on Review for Possible Downgrade, currently
     Ba1

  -- Cl. M7, Placed on Review for Possible Downgrade, currently B1
  -- Cl. M8, Placed on Review for Possible Downgrade, currently B3

Issuer: Structured Asset Securities Corp Trust 2005-NC1

  -- Cl. A5, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A8, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A9, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A10, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A11, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. M2, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. M3, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. M5, Placed on Review for Possible Downgrade, currently A3
  -- Cl. M6, Placed on Review for Possible Downgrade, currently
     Baa1

  -- Cl. M7, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. M8, Placed on Review for Possible Downgrade, currently
     Baa3

  -- Cl. M9, Placed on Review for Possible Downgrade, currently
     Ba2

Issuer: Structured Asset Securities Corp Trust 2007-BC2

  -- Cl. A1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A5, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. M1, Placed on Review for Possible Downgrade, currently
     Baa3

Issuer: Structured Asset Securities Corp Trust 2007-OSI

  -- Cl. A-1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. A-2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-3, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. A-4, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. A-5, Placed on Review for Possible Downgrade, currently
     A2

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     Ba3

Issuer: Structured Asset Securities Corp. 2005-RF2

  -- Cl. A, Placed on Review for Possible Downgrade, currently Aaa
  -- Cl. A-IO, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. R, Placed on Review for Possible Downgrade, currently Aaa
  -- Cl. B1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. B2, Placed on Review for Possible Downgrade, currently A2
  -- Cl. B3, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. B4, Placed on Review for Possible Downgrade, currently
     Ba2

  -- Cl. B5, Placed on Review for Possible Downgrade, currently B2

Issuer: Structured Asset Securities Corp. 2005-RF5

  -- Cl. 1-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-AIO, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-X, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 2-A, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. R, Placed on Review for Possible Downgrade, currently Aaa
  -- Cl. B1, Placed on Review for Possible Downgrade, currently
     Aa2

  -- Cl. B2, Placed on Review for Possible Downgrade, currently A2
  -- Cl. B3, Placed on Review for Possible Downgrade, currently
     Baa2

  -- Cl. B4, Placed on Review for Possible Downgrade, currently
     Ba2

  -- Cl. B5, Placed on Review for Possible Downgrade, currently B2

Issuer: Structured Asset Securities Corp. Trust 2007-EQ1

  -- Cl. A-1, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. A-2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. A-4, Placed on Review for Possible Downgrade, currently
     Aa1

  -- Cl. A-5, Placed on Review for Possible Downgrade, currently
     Aa3

  -- Cl. M-1, Placed on Review for Possible Downgrade, currently
     Baa3

Issuer: Structured Asset Securities Corporation Trust 2008-1

  -- Cl. 1-A-1, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A-2, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A-3, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A-4, Placed on Review for Possible Downgrade, currently
     Aaa

  -- Cl. 1-A-5, Placed on Review for Possible Downgrade, currently
     Aaa

The underlying ratings reflect the intrinsic credit quality of the
notes in the absence of the guarantee.  The ratings on securities
that are guaranteed or "wrapped" by a financial guarantor is the
higher of a) the rating of the guarantor or b) the published
underlying rating.  The current ratings on the below notes are
consistent with Moody's practice of rating insured securities at
the higher of the guarantor's insurance financial strength rating
and any underlying rating that is public.

Moody's review will focus on the degree of exposure that each of
these transactions has to LBHI or its subsidiaries.

In the foregoing actions, Moody's has placed RMBS and ABS on
review for possible downgrade as a result of exposure to Lehman
counterparty risk, regardless of whether specific hedges are in-
the-money or out-of-the-money from the perspective of the rated
tranches.  Moody's will assess whether termination of the deals'
hedge agreements with Lehman will have an adverse impact on the
related securities.  Moody's notes that there is a strong
possibility that certain ratings affected by today's actions will
be confirmed, as certain hedges are currently out-of-the-money
from the perspective of the rated securities, and have relatively
short durations.


ANTONIO VILLEGAS: Case Summary & 19 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Antonio Villegas
        aka Tony Villegas
        13899 Wagon Trail
        El Paso, TX 79936

Bankruptcy Case No.: 08-31662

Chapter 11 Petition Date: October 15, 2008

Court: Western District of Texas (El Paso)

Judge: Leif M. Clark

Debtor's Counsel: E. P. Bud Kirk, Es.
                  budkirk@aol.com
                  6006 N. Mesa, #806
                  El Paso, TX 79912
                  Tel: (915) 584-3773
                  
Total Assets: $3,046,990

Total Debts: $1,355,394

A list of the Debtor's largest unsecured creditors is available
for free at:

            http://bankrupt.com/misc/txwb08-31662.pdf


ARCHWAY COOKIES: Creditors' Committee Formed; Interim Cash OKed
---------------------------------------------------------------
Bill Rochelle of Bloomberg News reports that the U.S. Trustee
formed a five-member Official Committee of Unsecured Creditors for
Archway Cookies, LLC, and affiliate Mother's Cake & Cookie Co.,
one of the members being the subsidiary of Kraft Foods Inc. and
another being the Teamsters union.

The Court also gave interim permission to the Debtors, according
to the report, to use cash and borrow from the pre-bankruptcy
secured lender Wachovia Capital Finance Corp.  The Court has
scheduled on Oct. 27, 2008, a final financing hearing.

                      About Archway Cookies

Battle Creek, Michigan-based Archway Cookies, LLC,--
http://www.archwaycookies.com/-- makes soft-baked cookies. and   
crackers.  In 1998, Specialty Foods Corp. acquired the Debtors'
for about $100 million.

Parmalat Finanziaria of Italy acquired Mother's Cake and Cookie
Company and Archway Cookies from The Specialty Foods Acquisition
Corporation for $250 million in 2000.  Parmalat later sold its
North American Bakery Group, which includes the Archway brands,
Mother's brands and the U.S. and Canadian private label cookie
businesses, to the private equity firm Catterton Partners and
their operating partner Insight Holdings in 2005.  

Archway Cookies filed for Chapter 11 protection on Oct. 6, 2008
(Bankr. D. Del. Case No. 08-12323).  Its affiliate, Mother's Cake
& Cookie Co. also filed for bankruptcy (Bankr. D. Del. Case No.
08-12326).  Michael R. Lastowski, Esq., at Duane Morris, LLP,
represent the Debtors in their restructuring efforts.  In their
filing, the Debtors listed estimated assets of between $50 million
and $100 million and estimated debts of between $500 million and
$1 billion.


ARLINGTON RIDGE: Seeks Court Okay to Employ Stichter as Counsel
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida
granted Arlington Ridge LLC and its affilliates permission to
employ Stichter, Riedel, Blain & Prosser, P.A., as their
bankrutpcy counsel, on an interim basis.

The Firm will, among other things, advice the Debtors on their
powers and duties as debtors-in-possession, assist and participate
in negotiations with creditors and other parties in interest in
formulating a plan of reorganization, and represent the Debtors in
all adversary proceedings, contested matters, and matters
involving the administration of these cases.

The Firm will charge the Debtor these hourly rates:

           Professional                      Rate
           ------------                      ----
           Harley E. Riedel                  $450
           Scott A. Stichter                 $340
           Amy Denton Harris                 $225
           Susan Heath Sharp                 $200
           Paralegal                         $130

Harley E. Riedel, Esq., a partner at the Firm, told the Court that
the Firm doesn't hold a direct or indirect equity
interest in the Debtors, or any of their affiliates.

A final hearing on the Debtors' request will be held Nov. 3, 2008,
at 10:30 a.m.

Saint Petersburg, Florida-based Arlington Ridge LLC and its
affiliates operate a retirement community.  The companies filed
for Chapter 11 protection on Oct. 8, 2008 (Bankr. M. D. Fla. Case
No. 08-15678).  The company listed assets of $10 million to $50
million, and debts of $10 million to $50 million.


ATRIUM COS: S&P Puts 'CCC' Issue-Level Rating on $185MM Sr. Notes
-----------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Atrium Cos. Inc. to 'B-' from 'SD'.  The outlook is
negative.

At the same time, S&P withdrew all ratings on the holding company,
ACIH.

S&P also assigned a 'CCC' issue-level rating to Atrium's new
$185 million senior subordinated notes, which replaced the
$174 million of senior discount notes formerly held by ACIH.  S&P
assigned the senior subordinated notes a recovery rating of '6',
which indicates that lenders can expect negligible recovery in the
event of a payment default.

In addition, S&P raised its rating on Atrium's existing senior
secured bank credit facility to 'B-' from 'CC' and revised the
recovery rating to '4', which indicates that lenders can expect
average recovery in the event of a payment default, from '1'.  

"The rating actions reflect Atrium's successful completion of its
restructuring, which was necessitated by the missed interest
payment on the company's $174 million senior discount notes in
June 2008," said S&P's credit analyst Thomas Nadramia.  "It also
reflects our expectation that Atrium's liquidity position will
remain sufficient despite challenging operating conditions in the
residential construction and remodeling markets, which are likely
to persist for the next several quarters and possibly into
2010."

Under the terms of the restructuring, Atrium renegotiated its
senior secured credit facility, which included a reduction of
$40 million on the term loan and amended covenants.  In addition,
the company converted its $40 million senior subordinated notes
due 2012 into a new $42 million senior subordinated payment-in-
kind note due Dec. 15, 2012, and changed ACIH's $174 million
senior subordinated notes due 2012 into new $185 million senior
subordinated PIK notes due Dec. 15, 2012, at Atrium.

Nevertheless, S&P expects Atrium's financial profile will remain
weak for the rating over the next several quarters, and any
further deterioration from expected profit levels as a result of
weaker volumes and increased cost pressures could result in a
lower rating.  Given the PIK nature of much of the capital
structure, meaningful debt reduction is unlikely over the next few
years unless a material improvement in market conditions occurs.

The rating on Dallas-based Atrium reflects the company's high debt
burden, highly competitive cyclical markets, and ongoing raw
material cost volatility.  The rating also reflects Atrium's good
position in the vinyl and aluminum window market, low capital
spending requirements, and variable cost structure.

Atrium is a vertically integrated manufacturer of aluminum and
vinyl windows and patio doors, with more than 20 manufacturing
facilities and 30 distribution centers in North America.


BCBG MAX: Moody's Cuts PD Rating to 'Caa3' on Cash Flow Deficits
----------------------------------------------------------------
Moody's Investors Service downgraded the ratings of BCBG Max Azria
Group, Inc., including its probability of default rating, to Caa3.  
The rating outlook is negative.  The downgrade reflects the
company's continued free cash flow deficits and very weak
operating performance at its subsidiary, Max Rave, LLC making the
company heavily reliant on its owner provided line of credit.  In
addition, the downgrade reflects that based upon the company's
current operating performance level, BCBG may be challenged to
make its scheduled $20 million term loan amortization payment in
March 2009 without further support being provided by its owner.  
This rating action concludes the Review for Possible Downgrade
initiated on June 11, 2008.

The Caa3 corporate family rating reflects the company's very weak
interest coverage, ongoing free cash flow deficits, and its
reliance on its owner provided credit line to finance these
deficits.  In addition, the Caa3 probability of default rating
reflects the company's precarious liquidity situation and the
challenges it faces to stem the significant operating losses at
its Max Rave subsidiary quickly in order to avoid a potential
covenant violation.  

While the company has been successful in entering into a new
business arrangement which places Max Rave in a sizable well known
retailer, the initial size of the business is still very small and
will take time to ramp up to such a size and scale to offset the
current level of losses at Max Rave.  In addition, the current
negative economic environment will handicap the company's ability
to improve the performance at Max Rave.  Moody's notes however
that the BCBG core division continues to perform well, but that
the losses at Max Rave have reached such a level that it places
the whole company at risk for a potential covenant violation
and/or default.

These ratings are downgraded:

  -- Probability of default rating to Caa3 from Caa2;
  -- Corporate family rating to Caa3 from Caa2;
  -- Senior secured bank loan rating to Caa3 (LGD4, 55%) from Caa2
     (LGD4, 55%).

BCBG Max Azria Group, Inc., headquartered in Vernon, California is
an apparel retailer and wholesaler.  Revenues for the fiscal
period ended February 2, 2008 were approximately $904 million.


BEAR STEARNS: S&P Junks Rating on Class O Certificates
------------------------------------------------------
Standard & Poor's Ratings Services lowered its ratings on two
classes of commercial mortgage pass-through certificates from Bear
Stearns Commercial Mortgage Securities Trust 2006-PWR12.  
Concurrently, S&P affirmed its ratings on 20 other classes from
this series.

The downgrades reflect credit concerns with seven of the 13 loans
in the pool that have reported debt service coverage of less than
1.0x.

The affirmed ratings reflect credit enhancement levels that
provide adequate support through various stress scenarios.

S&P has credit concerns with seven ($26.3 million) of the 13 loans
($154.6 million) in the pool with a low reported DSC.  The seven
loans that are credit concerns are secured by a variety of
property types that have experienced a combination of declining
occupancy and higher operating expenses.  The 13 loans with low
reported DSCs are secured by a variety of property types, have an
average balance of $11.9 million, and have experienced a weighted
average decline in DSC of 44% since issuance.  Six of the loans
are not credit concerns because they have significant reserves or
are secured by properties that have experienced improved
occupancy.

The master servicers, Wells Fargo Bank N.A. and Prudential Asset
Resources, reported a watchlist of 31 loans ($383 million,
18.7%).  Four of the top 10 loans are on the watchlist and are
described below:

     -- The Orange Plaza loan ($89.9 million, 4.4%) is the largest
        loan on the watchlist and the third-largest loan in the
        trust.  The loan is secured by a 765,390-sq.-ft. power
        center in Middletown, New York.  The center was built in
        1971.  The loan was placed on the watchlist because it
        reported a first-quarter DSC of 1.07x.  However, as of
        June 30, 2008, the DSC was 1.18x and occupancy was 96%.

     -- The Southdale Office Centre loan ($44.5 million, 2.2%) is
        the second-largest loan on the watchlist and the fifth-
        largest loan in the trust.  The loan is secured by a
        448,299-sq.-ft. class B multitenant office complex
        composed of four suburban office buildings located in
        Edina, Minnesota.  The loan was placed on the watchlist
        because of a low DSC.  The loan is partial-term interest
        only, and will begin amortizing in 31 months.  Using
        Dec. 31, 2007, cash flow, the DSC is 0.76x on a fully
        amortizing basis.  Cash flow has been negatively affected
        by rent concessions for newly signed tenants.

     -- The Tower at Erieview loan ($43.5 million, 2.1%) is the
        third-largest loan on the watchlist and the sixth-largest
        loan in the trust.  The loan appears on the watchlist
        because of a low DSC.  The loan is partial-term IO, and
        will begin amortizing in 18 months.  The decrease in cash
        flow was due mainly to a decrease in income.  However, the
        DSC improved to 1.16x for the first half of 2008 from
        0.80x at year-end 2007.

     -- Calypso Bay Apartments ($31.9 million, 2%) is the fourth-
        largest loan on the watchlist and the eighth-largest loan
        in the trust.  The loan appears on the watchlist because
        of a year-end 2007 reported DSC of 1.02x, down 15% from
        issuance due to decreased occupancy and increased
        operating expenses.  The loan exposure on a per unit basis
        also appears high relative to market comparables.

As of the Oct. 14, 2008, remittance report, the collateral pool
consisted of 213 loans with an aggregate trust balance of
$2.05 billion, compared with the same number of loans totaling
$2.08 billion at issuance.  Wells Fargo and Prudential reported
financial information for 99% of the pool, 98% of which was full-
year 2007 data.  S&P calculated a weighted average DSC of 1.53x
for the pool, compared with 1.54x at issuance.  There are no
delinquent loans in the pool and the trust has not experienced any
losses to date.

The top 10 loans have an aggregate outstanding balance of
$666.2 million (32%) and a weighted average DSC of 1.35x, down
from 1.45x at issuance.  S&P reviewed property inspections
provided by Wells Fargo for nine of the top 10 loan exposures.
Seven were characterized as "good," one was characterized as
"excellent," and one was characterized as "fair."

At issuance, two loans had credit characteristics consistent with
those of investment-grade rated obligations: 1675 Broadway and
McMinnville Market Center.  Both of these loans continue to retain
credit characteristics consistent with investment-grade
obligations, and Standard & Poor's adjusted values for these loans
are comparable to their levels at issuance.

S&P stressed the loans on the watchlist and the other loans with
credit issues as part of its analysis.  The resultant credit
enhancement levels support the lowered and affirmed ratings.

                          Ratings Lowered

Bear Stearns Commercial Mortgage Securities Trust 2006-PWR12
           Rating
           ------
Class    To       From      Credit enhancement
-----    --       ----      ------------------
N        B-       B               1.52%
O        CCC+     B-              1.27%

                          Ratings Affirmed
  
Bear Stearns Commercial Mortgage Securities Trust 2006-PWR12
   
Class    Rating   Credit enhancement
-----    ------   ------------------
A-1      AAA           30.37%
A-2      AAA           30.37%
A-3      AAA           30.37%
A-AB     AAA           30.37%
A-4      AAA           30.37%
A-1A     AAA           30.37%
A-M      AAA           20.24%
A-J      AAA           12.40%
B        AA            10.25%
C        AA-            9.36%
D        A              7.72%
E        A-             6.71%
F        BBB+           5.44%
G        BBB            4.43%
H        BBB-           3.16%
J        BB+            2.78%
K        BB             2.40%
L        BB-            2.02%
M        B+             1.77%
X        AAA             N/A


N/A  -- Not applicable.


BIOHEART INC: Has Until November 14 to Comply with Nasdaq Rules
---------------------------------------------------------------
Bioheart, Inc. received a letter from the Nasdaq Stock Market
advising that, for the last ten consecutive trading days, the
market value of the company's listed securities had been below
the minimum $35 million requirement for continued inclusion on
The NASDAQ Capital Market pursuant to NASDAQ Marketplace Rule
4310(c)(3)(B).  Furthermore, the NASDAQ stated that the company
does not comply with NASDAQ Marketplace Rule 4310(c)(3)(A) or
4310(c)(3)(C), which require the company to have either minimum
stockholders' equity of $2.5 million or net income from
continuing operations of $500,000 in the most recently completed
fiscal year or in two of the last three most recently completed
fiscal years.

In the NASDAQ Letter, NASDAQ advised that, in accordance with
NASDAQ Marketplace Rule 4310(c)(8)(C), the company will be
provided thirty calendar days, or until Nov. 14, 2008, to regain
compliance with NASDAQ Marketplace Rule 4310(c)(3)(B).  The
NASDAQ Staff may determine that the company has regained
compliance with NASDAQ Marketplace Rule 4310(c)(3)(B) if, at any
time before the end of the Compliance Period, the market value
of the company's listed securities is $35 million or more for a
minimum of ten consecutive business days.  If the company does
not regain compliance within the Compliance Period, NASDAQ will
provide the company with written notification that the company's
common stock will be delisted from the NASDAQ Capital Market.
At that time, the company may appeal the determination by the
NASDAQ Staff to delist its common stock to a Listing
Qualifications Panel.

The company is considering actions that may allow it to regain
compliance with the NASDAQ continued listing standards and
maintain its NASDAQ listing.  There is no assurance that the
company will be able to take any of these actions or that any
of the actions will be sufficient to allow the company's NASDAQ
listing to continue or for how long such listing will continue.
If the company is unsuccessful in maintaining its NASDAQ listing,
then the company may pursue listing and trading of the company's
common stock on the Over-The-Counter Bulletin Board or another
securities exchange or association with different listing
standards than NASDAQ.

                          Bioheart, Inc.

Bioheart, Inc. (Nasdaq: BHRT) -- http://www.bioheartinc.com/--  
delivers intelligent devices and biologics that help monitor,
diagnose and treat heart failure and cardiovascular diseases.  Its
goals are to improve a patient's quality of life and reduce health
care costs and hospitalizations. Specific to biotechnology, the
company is focused on the discovery, development and, subject to
regulatory approval, commercialization of autologous cell
therapies for the treatment of chronic and acute heart damage.


BLUMENTHAL PRINT: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Blumenthal Print Works, Inc.
        905 South Broad Avenue
        New Orleans, LA 70125-1493  

Bankruptcy Case No.: 08-12532

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                                     Case No.
        ------                                     --------
Blumenthal Mills, Inc.                             08-12533

Type of Business: The Debtors operate a home furnishing and
                  decorative fabric company.  The Debtors sell
                  jacquard, circular knits and velours.
                  See: http://www.blumenthalprintworks.com/

Chapter 11 Petition Date: October 20, 2008

Court: Eastern District of Louisiana (New Orleans)

Judge: Elizabeth W. Magner

Debtor's Counsel: Bernard H. Berins, Esq.
                  bberins@hellerdraper.com
                  Jan Marie Hayden, Esq.
                  jhayden@hellerdraper.com
                  Heller Draper Hayden Patrick & Horn LLC
                  650 Poydras Street, Suite 2500
                  New Orleans, LA 70130
                  Tel: (504) 568-1888
                  Fax : (504) 522-0949

Estimated Assets: $1 million to $10 million

Estimated Debts: $10 million to $50 million

The Debtor did not file a list of 20 largest unsecured creditors.


BROWN SHOE: Sales Decline Cues Moody's to Change Outlook to Stable
------------------------------------------------------------------
Moody's Investors Service changed Brown Shoe Company, Inc.'s
ratings outlook to stable from positive.  The company's Ba3
corporate family rating, Ba3 probability of default rating, and B1
senior unsecured notes ratings were affirmed.  In a related
action, the company's Speculative Grade Liquidity rating was
lowered to SGL-3 from SGL-2.

The change in outlook to stable reflects the continued decline in
sales and profitability stemming from the weakening economy and
overall retail sales environment.  As a result, Brown Shoe's
credit metrics have deteriorated over the last several quarters.  
"Due to our expectation that the retail environment will remain
very weak over the next several quarters, a near-term upgrade in
Brown Shoe's ratings is unlikely," says Moody's analyst, Mike
Zuccaro.  "At the Ba3 rating level, the company has moderate
cushion for adverse fluctuations in credit metrics due to the
declining retail environment."  The downgrade in the company's
speculative grade liquidity rating to SGL-3 reflects the near-term
expiration of its $350 million revolving credit facility in July
2009.

Brown Shoe's Ba3 corporate family rating continues to reflect the
company's moderate scale with revenues of $2.3 billion,
profitability that is slightly below its peer group, and the
company's high business risk given the fashion component and high
execution risk of specialty retail.  Supporting the rating are
numerous strengths, including broad national coverage, credible
market position, solid portfolio of brand names, and moderate
seasonality.  The company's credit metrics remain appropriate for
the rating, although debt/EBITDA has increased to over 4.5x for
the latest twelve month period ended August 2, 2008.

These ratings were affirmed:

  -- Corporate family rating at Ba3;
  -- Probability-of-default rating at Ba3;
  -- $150 million guaranteed senior unsecured notes due 2012 at B1
     (LGD4, 69%), up from (LGD5, 72%);

These ratings were downgraded:

  -- Speculative Grade Liquidity Rating To SGL-3 from SGL-2.

The prior rating action on Brown Shoe was in March 2007, when
Moody's changed the company's ratings outlook to positive from
stable, and affirmed all other ratings.

Brown Shoe Company, Inc., headquartered in St. Louis, Missouri, is
a retailer and wholesaler of footwear.  About two-thirds of its
revenue is generated by its retail stores which consist of
approximately 1,400 Famous Footwear, Naturalizer, and F.X. LaSalle
stores.  Its portfolio of branded footwear includes; Naturalizer,
LifeStride, Connie, Buster Brown, E. Aigner, Via Spiga, Franco
Sarto, Dr. Scholl's, and Carlos Santana.


CALIFORNIA OIL: Robert Saxe Discloses 7.7% Equity Stake
-------------------------------------------------------
Robert L. Saxe disclosed in a Securities and Exchange Commission
filing that he beneficially owns 3,700,000 shares of California
Oil & Gas Corp.'s common stock, representing 7.7% of the shares
issued and outstanding.

                       Going Concern Doubt

LBB & Associates Ltd., LLP in Houston, Texas, expressed
substantial doubt about California Oil & Gas Corp.'s ability to
continue as a going concern after auditing the company's financial
statements for the year ended Nov. 30, 2007.  The auditing firm
pointed to the company's absence of significant revenues,
recurring losses from operations, and its need for additional
financing in order to fund its projected loss in 2008.

Through May 31, 2008, the company has incurred losses of
$4,111,173 since inception.  

California Oil & Gas Corp. reported a net loss of $310,615 on gas
sales, net of royalty of $64,603 for the second quarter ended May
31, 2008, compared with a net loss of $341,094 on gas sales, net
of royalty of $10,789 in the same period ended May 31, 2007.

At May 31, 2008, the company's balance sheet showed $1,054,097 in
total assets, $857,364 in total liabilities, and $196,733 in total
shareholders' equity.

The company's balance sheet at May 31, 2008, also showed strained
liquidity with $181,527 in total current assets available to pay
$857,364 in total current liabilities.

                       About California Oil

Headquartered in Calgary, Alberta, California Oil & Gas Corp.
(OTC BB: COGC) -- http://www.caloilandgas.com/-- is a publicly      
traded oil and gas company with assets in the San Joaquin Basin of
California and in Louisiana.  The company is focussed on exploring
high yield oil and gas prospects both domestically and
internationally.  The company is a gas producer and is targeting
the acquisition of late stage exploration or early stage
development projects around the globe.


CARUSO HOMES: Wants Exclusivity Extended Until May 1, 2009
----------------------------------------------------------
Bill Rochelle of Bloomberg News reports that Caruso Homes Inc. and
its debtor-affiliates ask the U.S. Bankruptcy Court for the
District of Maryland to extend until May 1, 2009, their exclusive
right to propose a reorganization plan.

The Debtors, according to the report, explained to the Court that
scheduling meetings with nine secured lenders has been difficult,
given how some are experiencing "their own internal financial
crises".

Headquartered in Crofton, Maryland, Caruso Homes Inc. --
http://www.carusohomes.com/-- is a custom home builder.  The     
company and 24 of its debtor-affiliates filed for Chapter 11
protection on June 23, 2008 (D. Md. Lead Case No. 08-18254).  Joel
I. Sher, Esq., at Shapiro Sher Guinot & Sandler P.A, represents
the Debtors as counsel.  The Debtors' schedules showed assets of
$16,105,716 and liabilities of $115,809,357.


CHILDREN'S WORLD: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Children's World Education Centers Inc.
        dba Little Scholars Workshop Inc.
        30 Harvard Street
        Dorchester, MA 02124

Bankruptcy Case No.: 08-17778

Chapter 11 Petition Date: October 15, 2008

Court: District of Massachusetts (Boston)

Judge: Henry Boroff

Debtor's Counsel: Joseph W. Gruss, Esq.
                  Law1918@hotmail.com
                  Law Offices of Joseph Gruss
                  2045 Centre St.
                  West Roxbury, MA 02132
                  Tel: (617) 323-3544
                  Fax: (617) 323-3548

Estimated Assets: $1,000,000 to $10,000,000

Estimated Debts: $500,000 to $1,000,000

A list of the Debtor's largest unsecured creditors is available
for free at:

            http://bankrupt.com/misc/mab08-17778.pdf


CHRYSLER LLC: Bankruptcy to Resolve Labor Woes, Economist Says
--------------------------------------------------------------
Tim Higgins and Katie Merx at Free Press (Detroit) report that
Peter Morici, a University of Maryland business professor and
former chief economist at the U.S. International Trade Commission,
said that Chrysler LLC should be allowed to file for bankruptcy.  

"The simple fact is that the best solution for Chrysler is Chapter
11 to remove the burdens of the UAW [United Auto Workers] contract
and scale down the company to something one half to two thirds its
current size.  That would serve GM's [General Motors Corp.]
interests, too -- both Ford and GM would benefit from some
capacity and cars going off the market," Free Press quoted Mr.
Morici as saying.

According to court filings by the UAW, a financial analysis made
before the economic crisis indicates an up to 50% chance of a
Chrysler insolvency by 2013.

According to Free Press, Mr. Morici said that if GM acquired
Chrysler's Jeep brand and minivan program, "GM would still have to
pay heavy severance bonuses to workers it laid off streamlining
their operations, similar payments would be required to shutter
much of Chrysler's unattractive truck and car operations, and GM
would still have to fund the union health care fund for retired
Chrysler employees."  

      Merger May Help in Contract Renegotiation With Union

A merger between GM and Chrysler would be a high-risk deal, but
may give the new company "high leverage" to renegotiate with the
United Auto Workers, Free Press reports, citing J.P. Morgan
analyst Himanshu Patel.

Free Press quoted Mr. Patel as saying, "GM desperately needs a
reason to renegotiate many parts of its 2007 UAW contract."  GM
must renegotiate the "VEBA funding level" and wages for core
workers, the report states, citing Mr. Patel.

Free Press relates that due to the precarious financial positions
of Ford Motor Corp., GM, and Chrysler, UAW had agreed to a deal
that allows the comanies to pay new hires less money than core
workers and to shift billions of dollars of retiree health care
spending to VEBA, an independent trust fund.  According to the
report, the union had agreed to the deal, saying that it had to
make a sacrifice to help the industry better compete against
foreign automakers that have lower costs from their U.S.
workforces.  The report says that the VEBA was a way to guarantee
retiree health care benefits even if the companies go broke.

Jim Millstein, managing director and co-head of Lazard Freres &
Co.'s restructuring group, said in court documents, "Chrysler's
long-term ability to meet its medical obligations to UAW retirees
has deteriorated."

According to Free Press, UAW President Ron Gettelfinger has said
that he wouldn't agree to further delays in the VEBA payments.  
Free Press states that the union already agreed to let GM delay
$1.7 billion in payments to the VEBA that had been scheduled for
2008 and 2009.  Mr. Gettelfinger said he is against a Chrysler-GM
merger that results in more job losses, the report says.

A Wall Street analyst said that GM could "win enough goodwill to
extract further savings from the UAW," if the company is seen as
saving Chrysler from bankruptcy and preserving jobs and benefits,
Free Press states.

Free Press relates that Harley Shaiken, a union expert from
University of California-Berkeley, said, "After closing X-number
of plants, eliminating say 30,000 to 50,000 jobs, my sense is that
the UAW might not be in the best of moods to give further
concessions."

Free Press quoted Mr. Patel as saying, "By saving Chrysler from a
liquidity event, GM may also be able to get itself much-needed
secured bank financing from the same banks that are currently
holding Chrysler debt."

                    About General Motors

Headquartered in Detroit, Michigan, General Motors Corp. (NYSE:
GM) -- http://www.gm.com/-- was founded in 1908.  GM employs
about 266,000 people around the world and manufactures cars and
trucks in 35 countries.  In 2007, nearly 9.37 million GM cars and
trucks were sold globally under the following brands: Buick,
Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel,
Pontiac, Saab, Saturn, Vauxhall and Wuling.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security and
information services.

GM Europe is based in Zurich, Switzerland, while General Motors
Latin America, Africa and Middle East is headquartered in
Miramar, Florida.

At June 30, 2008, the company's balance sheet showed total assets
of US$136.0 billion, total liabilities of US$191.6 billion, and
total stockholders' deficit of US$56.9 billion.  For the quarter
ended June 30, 2008, the company reported a net loss of
US$15.4 billion over net sales and revenue of US$38.1 billion,
compared to a net income of US$891.0 million over net sales and
revenue of US$46.6 billion for the same period last year.

                      About Chrysler LLC

Headquartered in Auburn Hills, Michigan, Chrysler LLC --
http://www.chrysler.com/-- a unit of Cerberus Capital
Management LP, produces Chrysler, Jeep(R), Dodge and Mopar(R)
brand vehicles and products.  The company has dealers worldwide,
including Canada, Mexico, U.S., Germany, France, U.K., Argentina,
Brazil, Venezuela, China, Japan and Australia.

                         *     *     *

As reported in the Troubled Company Reporter on Aug. 11, 2008,
Standard & Poor's Ratings Services lowered its ratings on Chrysler
LLC, including the corporate credit rating, to 'CCC+' from 'B-'.

On July 31, 2008, TCR said that Fitch Ratings downgraded the
Issuer Default Rating of Chrysler LLC to 'CCC' from 'B-'.  The
Rating Outlook is Negative.  The downgrade reflects Chrysler's
restricted access to economic retail financing for its vehicles,
which is expected to result in a further step-down in retail
volumes.  Lack of competitive financing is also expected to result
in more costly subvention payments and other forms of sales
incentives.  Fitch is also concerned with the state of the
securitization market and the ability of the automakers to access
this market on an economic basis over the near term, given the
steep drop in residual values, higher default rates, higher loss
severity being experienced and jittery capital market.


CIRCUIT CITY: Mulls Shutdowns, Job Cuts to Avoid Bankruptcy
-----------------------------------------------------------
Circuit City Stores, Inc., is considering closing at least 150
stores and laying off thousands of its 45,000 workers to avoid
bankruptcy, Jeffrey McCracken and Miguel Bustillo at The Wall
Street Journal report, citing people familiar with the matter.

According to WSJ, the shutdowns and layoffs would let Circuit City
liquidate about $350 million in inventory, which it could use to
pay off certain real-estate costs.  Circuit City, says WSJ, would
then try to renegotiate leases, many of which the company
considers as overpriced.  Circuit City's investors see those
leases as a threat to the firm's financial health, WSJ states.

Citing sources, WSJ relates that City Circuit has hired Skadden,
Arps, Slate, Meagher & Flom LLP -- the law firm that oversaw the
Chapter 11 reorganization of Kmart -- as its bankruptcy counsel.  
The sources said that Circuit City also retained FTI Consulting
Inc. to develop a turnaround plan and investment bank Rothschild
Inc. to lead negotiations with banks and secure emergency
financing, WSJ states.

According to WSJ, Circuit City has been analyzing how much money
it could raise by liquidating hundreds of millions of dollars in
inventory.  WSJ says that City Circuit's advisers are trying to
line up debtor-in-possession financing to allow the company to pay
its day-to-day operating expenses when it enters bankruptcy.  
Lenders, according WSJ, have shown little interest in providing
the financing to Circuit City.

WSJ reports that sources said that Circuit City management,
investors, and advisers are trying to avoid a bankruptcy filing
before the holiday season, fearing that clients might doubt the
ability of the company to provide warranties on products when it
undergoes bankruptcy proceedings.

WSJ quoted Circuit City spokesperson Bill Cimino as saying, "The
management team, board of directors, and its strategic financial
advisers are conducting a comprehensive review of all aspects of
our business to determine the best methods of accelerating our
turnaround."

                        About Circuit City

Headquartered in Richmond, Virginia, Circuit City Stores Inc.
(NYSE: CC) -- http://www.circuitcity.com/-- is a specialty          
retailer of consumer electronics, home office products,
entertainment software and related services.  The company has two
segments: domestic and international.

                          *     *     *   
                    
As reported in the Troubled Company Reporter on Oct. 1, 2008,
Lauren Coleman-Lochner, Mark Clothier and Jonathan Keehner of
Bloomberg News report that Circuit City Stores, Inc., has hired
turnaround firm FTI Consulting Inc. as an adviser, according to
two people with knowledge of the appointment who declined to be
identified because the information isn't public.


CITIZENS REPUBLIC: Fitch Holds 'BB-' Subordinated Debt Rating
-------------------------------------------------------------
Fitch Ratings has affirmed the long-term Issuer Default Rating and
the short-term IDR for Citizens Republic Bancorp, Inc. and its
principal bank subsidiaries at 'BBB-' and 'F3', respectively.  The
Rating Outlook remains Negative.

The maintenance of the Negative Outlook and affirmation of CRBC's
ratings reflects further asset quality deterioration, primarily in
land, land development, and land construction in the Michigan and
Ohio markets.  While net charge-offs in the third quarter were
quite manageable at 94 basis points of average loans,
nonperforming assets increased 27% from the prior quarter to 3.87%
of loans and foreclosed real estate.

Provision expense exceeded NCOs by a wide margin to further
bolster the loan loss reserve, resulting in a net loss of
$7.2 million for the quarter.  While Fitch expects elevated levels
of NPAs and continued earnings pressure in the near term, CRBC's
fortified capital and reserves, good liquidity, solid parent
financial position, and sound underlying core business, should
continue to support CRBC's ratings.  Since CRBC's recent
noncumulative preferred stock issuance converted to common equity
at the end of the third quarter, Fitch has withdrawn the preferred
stock rating.  At September 30, 2008, the Tier 1 risk-based
capital and the tangible common equity to tangible asset ratios
were 10.85% and 7.33%, respectively.  Core deposit trends remain
positive and management is maintaining a net federal funds sold
position.

Fitch expects continued stress of macro economic conditions and
real estate markets in the majority of CRBC's footprint, such as
Michigan and Ohio.  Consequently, these challenges will pressure
the remediation of problem assets.  While the company reported an
increase in nonperforming residential mortgages in the most recent
quarter, commercial real estate problem credits were largely were
originated by Michigan-based Republic Bancorp Inc., which CRBC
acquired in December 2006.  The trust preferred rating at just one
notch below the IDR will require continued maintenance of strong
liquidity at the parent company.

Fitch affirmed these ratings:

Citizens Republic Bancorp, Inc.

  -- Long-term Issuer Default Rating 'BBB-';
  -- Subordinated debt 'BB+';
  -- Short-term IDR 'F3';
  -- Individual 'C';
  -- Support '5';
  -- Support floor 'NF';

Citizens Bank
F&M Bank-Iowa

  -- Long-term deposits 'BBB';
  -- Long-term IDR 'BBB-';
  -- Short-term deposits 'F2';
  -- Short-term IDR 'F3'';
  -- Individual 'C';
  -- Support '5';
  -- Support floor 'NF';

CB Wealth Management, National Association

  -- Long-term IDR 'BBB-';
  -- Short-term IDR 'F3';
  -- Individual 'C';
  -- Support '5';
  -- Support floor 'NF';

Citizens Funding Trust I

  -- Preferred stock 'BB+'.

The Rating Outlook on the above is Negative.

Fitch withdraws this rating:

Citizens Republic Bancorp, Inc.


CLEAN TECHNOLOGY: Involuntary Chapter 11 Case Summary
-----------------------------------------------------
Alleged Debtor: Clean Technology Int'l. Corp.
                aka CTIC
                aka Clean Tech International Corp.
                aka Diamond Capital Corporation
                100 West Liberty Street, 10th Floor
                Reno, NV 89505

Case Number: 08-51990

Type of Business: The Debtor provides nanostructured carbon
                  materials to break down types of toxic waste
                  discharges.
                  See: http://www.cleantechnano.com/

Involuntary Petition Date: October 20, 2008

Court: District of Nevada (Reno)

Judge: Gregg W. Zive

Petitioner's Counsel: Bruce Thomas Beesley, Esq.
                      bbeesley@lrlaw.com
                      Lewis And Roca LLP
                      50 West Liberty Street, Ste. 410
                      Reno, NV 89501
                      Tel: (775) 823-2900
                      Fax: (775) 823-2929

   Petitioners                 Nature of Claim      Claim Amount
   -----------                 ---------------      ------------
David H. Kemp                  loan guarantee       $141,687
4557 Patyonville, Road
Franklin, TN 97064


COMMONWEALTH EDISON: Exelon Deal Cues Fitch to Put Rating on Watch
------------------------------------------------------------------
Fitch Ratings has placed the 'BBB+' Issuer Default Rating of
Exelon Corp. and its' wholesale electric generation subsidiary
Exelon Generation Company, LLC on Rating Watch Negative following
EXC's unsolicited offer to acquire NRG Inc. (IDR rated 'B' and on
Rating Watch Evolving by Fitch) in a stock for stock transaction
valued at $6.2 billion.  EXC will also assume approximately $8
billion of NRG debt.

The ratings of EXC's regulated utility subsidiaries PECO Energy
Co. and Commonwealth Edison are not affected by the rating action.  

EXC enters this transaction in a strong credit position relative
to its existing ratings, which provides a cushion against the
additional debt and interest expense to be incurred to complete
this transaction.  In addition, management publicly stated it
plans to return EXC's credit quality to its current level within
three years and that it has indefinitely suspended a planned
$1.5 billion share repurchase plan.  Completion of the transaction
is subject to refinancing risk, since NRG's debt is subject to
change of control provisions.  The transaction is also subject to
regulatory approval in four states.

Fitch has placed these ratings on Rating Watch Negative.

Exelon Corp.

  -- IDR 'BBB+';
  -- Senior unsecured debt 'BBB+';
  -- Commercial paper 'F2';
  -- Short-term IDR 'F2'.

Exelon Generation Co., LLC

  -- IDR 'BBB+';
  -- Senior unsecured debt 'BBB+';
  -- Commercial paper 'F2';
  -- Short-term IDR 'F2'.

The following rtings are unaffected:

PECO Energy Co.

  -- IDR 'BBB+';
  -- First mortgage bonds 'A';
  -- Preferred stock 'BBB+';
  -- Commercial paper 'F2';
  -- Short-term IDR 'F2'.

PECO Energy Capital Trusts III

  -- Preferred stock 'BBB+'.

PECO Energy Capital Trusts IV

  -- Preferred stock 'BBB+'.

Commonwealth Edison Co.

  -- IDR 'BB+';
  -- First mortgage bonds 'BBB';
  -- Senior unsecured debt 'BBB-';
  -- Preferred stock 'BB';
  -- Commercial paper 'B'.

ComEd Financing Trust III


CSFB HOME: Moody's Downgrades Ratings on 52 Certificate Classes
---------------------------------------------------------------
Moody's Investors Service has downgraded 52 certificates issued by
CSFB Home Equity Mortgage Trust.  The transactions are backed by
second lien loans.  The certificates were downgraded because the
bonds' credit enhancement levels, including excess spread and
subordination were too low compared to the current projected loss
numbers at the previous rating levels.

The actions take into account the continued and worsening
performance of transactions backed by closed-end-second
collateral.  Substantial pool losses of over the last few months
have eroded credit enhancement available to the mezzanine and
senior certificates.  Despite the large amount of write-offs due
to losses, delinquency pipelines have remained high as borrowers
continue to default.

Complete rating actions are:

Issuer: CSFB Home Equity Mortgage Trust 2005-3

  -- Cl. M-2, Downgraded to A1 from Aa1
  -- Cl. M-3, Downgraded to Ba2 from Aa2
  -- Cl. M-4, Downgraded to Ca from Baa1
  -- Cl. M-5, Downgraded to C from Ba2
  -- Cl. M-6, Downgraded to C from B3
  -- Cl. M-7, Downgraded to C from Caa2
  -- Cl. M-8, Downgraded to C from Ca

Issuer: CSFB Home Equity Mortgage Trust 2005-4

  -- Cl. A-4, Downgraded to Aa1 from Aaa
  -- Cl. M-1, Downgraded to Baa1 from Aa1
  -- Cl. M-2, Downgraded to B2 from A2
  -- Cl. M-3, Downgraded to Ca from Baa2
  -- Cl. M-4, Downgraded to C from Ba3
  -- Cl. M-5, Downgraded to C from Caa1
  -- Cl. M-6, Downgraded to C from Caa3
  -- Cl. M-7, Downgraded to C from Ca

Issuer: CSFB Home Equity Mortgage Trust 2005-5

  -- Cl. A-1A, Downgraded to Baa2 from Aaa
  -- Cl. A-1F1, Downgraded to A3 from Aaa
  -- Cl. A-1F2, Downgraded to Baa2 from Aaa
  -- Cl. A-2A, Downgraded to B3 from Aaa
  -- Cl. A-2F, Downgraded to B3 from Aaa
  -- Cl. M-1, Downgraded to C from Baa3
  -- Cl. M-2, Downgraded to C from B3
  -- Cl. M-3, Downgraded to C from Caa1
  -- Cl. M-4, Downgraded to C from Caa2
  -- Cl. M-5, Downgraded to C from Caa3
  -- Cl. M-6, Downgraded to C from Ca

Issuer: CSFB Home Equity Mortgage Trust 2006-1

  -- Cl. A-1A2, Downgraded to Baa1 from Aaa
  -- Cl. A-1B, Downgraded to Baa1 from Aaa
  -- Cl. A-1F, Downgraded to Baa1 from Aaa
  -- Cl. A-2, Downgraded to Ba3 from Aaa
  -- Cl. A-3, Downgraded to Caa3 from A2
  -- Cl. M-1, Downgraded to C from Baa3
  -- Cl. M-2, Downgraded to C from B2
  -- Cl. M-3, Downgraded to C from Caa1
  -- Cl. M-4, Downgraded to C from Caa2
  -- Cl. M-5, Downgraded to C from Caa3
  -- Cl. M-6, Downgraded to C from Ca

Issuer: CSFB Home Equity Mortgage Trust 2006-3

  -- Cl. A-1, Downgraded to Caa2 from Ba1
  -- Cl. A-2, Downgraded to C from Ba3
  -- Cl. A-3, Downgraded to C from B3
  -- Cl. M-1, Downgraded to C from Caa2
  -- Cl. M-2, Downgraded to C from Ca

Issuer: CSFB Home Equity Mortgage Trust 2006-4

  -- Cl. A-1, Downgraded to B2 from Ba1
  -- Cl. A-2, Downgraded to Ca from Ba3
  -- Cl. A-3, Downgraded to C from B3
  -- Cl. M-1, Downgraded to C from Caa2

Issuer: CSFB Home Equity Mortgage Trust 2006-6

  -- Cl. 1A-1, Downgraded to Caa3 from B1
  -- Cl. 2A-1, Downgraded to Ca from B1
  -- Cl. 2A-2, Downgraded to Ca from B1
  -- Cl. 2A-3, Downgraded to Ca from B1
  -- Cl. M-1, Downgraded to C from Caa2
  -- Cl. M-2, Downgraded to C from Ca


DEATH ROW: Trustees to Resell Asset After Failed $24 Mil. Deal
--------------------------------------------------------------
Karen Gullo of Bloomberg News reports that the trustees of Death
Row Records are asking the United States Bankruptcy Court the
Central District of California to sell company assets once again
after a failed $24 million sale transaction with Global Music
Group.

In addition, the trustee of one of the company's founder is asking
the Court for permission to include the music publishing business
in the label's asset sale, the Bloomberg says.

The company said that several buyers have expressed their
willingness to purchase its assets but did not disclose the names
of any of them, according to Bloomberg News.

According to the Troubled Company Reporter on July 15, 2008,
Global Music's partners have traded accusations of criminal
behavior, including falsifying documents and extortion, Bloomberg
said.  Ronald Goldberg told the Court that his partners in Global
Music stole inside information and altered the company name on
bidding documents to fraudulently claim they won the auction, the
report related.

Anthony Marotta asserted that he won the auction and he told
the Court that he received death threats from Mr. Goldberg,
Bloomberg said.  Mr. Marotta said the sale needs to be delayed
because threats against him by Mr. Goldberg scared away lenders,
the report noted.

                          About Death Row

Headquartered in Compton, California, Death Row Records Inc.
-- http://www.deathrowrecords.net/-- is an independent record
producer.  The company and its owner, Marion Knight, Jr., filed
for chapter 11 protection on April 4, 2006 (Bankr. C.D. Calif.
Case No. 06-11205 and 06-11187).  Daniel J. McCarthy, Esq.,
at Hill, Farrer & Burrill, LLP, and Robert S. Altagen, Esq.,
represent the Debtors in their restructuring efforts.  R. Todd
Neilson serves as chapter 11 Trustee for the Debtors' estate.  The
U.S. Trustee for Region 17 appointed creditors to serve on an
Official Committee of Unsecured Creditors.  The Committee selected
Pachulski Stang Ziehl & Jones as its counsel.  When the Debtors
filed for protection from their creditors, they listed total
assets of $1,500,000 and total debts of $119,794,000.


EATON VANCE: S&P Junks Ratings on 2 Classes; Keeps Negative Watch
-----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its issuer credit
rating on Eaton Vance Variable Leverage Fund Ltd. and its long-
term rating on EVVLF's medium-term notes.  The ratings remain on
CreditWatch negative, where they were placed March 12, 2008.  At
the same time, S&P withdrew its short-term ratings on EVVLF's
commercial paper and MTNs.

The lowered ratings reflect S&P's view regarding the low
likelihood of EVVLF paying its senior liabilities in full from the
sale proceeds of its remaining assets.  Following its entry into
enforcement, EVVLF has thus far sold a significant portion of its
portfolio at prices below the levels required to repay its senior
debt at par.  Only when the sale of the asset portfolio has been
completed, will S&P be able to determine whether EVVLF was able to
repay its senior debt in full and which recovery level to apply
post-default.

At this time, EVVLF has no CP or short-maturity MTNs outstanding.
   
       Ratings Lowered and Remaining on Creditwatch Negative
              Eaton Vance Variable Leverage Fund Ltd.
                                  
Issue                                 Rating
-----                                 ------
                              To                  From
                              --                  ----
Issuer credit rating          CCC-/Watch Neg      BB+/Watch Neg
MTN issues                    CCC-/Watch Neg      BB+/Watch Neg
   
   
                         Ratings Withdrawn
             Eaton Vance Variable Leverage Fund Ltd.
                                  
Issue                                 Rating
-----                                 ------
                              To                  From
                              --                  ----
CP issues (short-term)        NR                  B/Watch Neg
MTN issues (short-term)       NR                  B/Watch Neg

   
NR -- Not rated.


ECHELON PROPERTY: Best Lifts Issuer Credit Rating to bb+ from bb-
-----------------------------------------------------------------
A.M. Best Co. has upgraded the financial strength rating to
B(Fair) from B-(Fair) and issuer credit rating to "bb+" from "bb-"
of Echelon Property and Casualty Insurance Company (Chicago, IL).   
The ratings have been removed from under review with developing
implications and assigned a stable outlook.

These rating actions take into consideration the recent
acquisition of Echelon by Lockhart Insurance Holdings Co., Ltd.
(U.S. Virgin Islands) and the installation of a new senior
management team at Echelon.  Consequently, with this acquisition,
LIH made a substantial capital contribution to Echelon and has
indicated its intention to support the company as management
implements its re-underwriting and growth strategies.  As a
result, Echelon currently has adequate risk-adjusted
capitalization for its ratings and benefits from the implied
support of LIH.

Offsetting these factors is Echelon's history of operating and
underwriting losses since its inception in 2003, the significant
surplus erosion that occurred under prior management and the
execution risk under new ownership.


FASHION HOUSE: Messrs. Broidy and McCann, Jr., Leave Board
----------------------------------------------------------
The Fashion House Holdings, Inc., disclosed in its Oct. 16, 2008,
filing with the Securities and Exchange Commission that on
Aug. 19, 2008, Alan F. Broidy and Joseph J. McCann, Jr. resigned
as board of directors of the company.  Mr. Broidy and Mr. McCann
served as board of directors since Aug 19, 2005.  

The company related that it anticipates that these board seats
will not be filled while the company is in bankruptcy.

Based in Los Angeles, California, The Fashion House Holdings Inc.
(FHHIQ.OB) -- http://www.thefashionhouseinc.com/-- engages in the
design, development, and marketing of women's dress and casual
fashion footwear. Founded in 2002, the company's licensed brands
include Richard Tyler Couture, tyler, Richard Tyler, Oscar by
Oscar de la Renta, O Oscar by Oscar de la Renta, Blass by Bill
Blass, Bill Blass Couture, Isaac Isaac Mizrahi line, and Mizrahi
couture. The company sells its designer footwear through
independent retailers, specialty retailers, and department stores.

The Fashion House Holdings is formerly TDI Holdings Corp.,
Kimball-Decar Corp., Kimball-Decar Corp., TangibleData Inc.,
TangibleData Inc., TDI Holdings Corp., TangibleData Inc., TDI
Holdings Corp., and Kimball-Decar Corp.

On April 16, 2008, together with The Fashion House Inc., the
company filed chapter 11 (Bankr. C.D. Calif. Case Nos. 08-12359
and 08-12363). Judge Kathleen Thompson presides over the case.  
Daniel J Weintraub, Esq., at Weintraub & Selth APC represents the
Debtors in their restructuring efforts. The Fashion House Inc.
listed total assets of $257,318 and total debts of $18,168,194 and
The Fashion House Holdings listed unknown value of assets and
total debts of $11,800,101 when they filed for bankruptcy.

                     Going Concern Doubt

Grobstein, Horwath & Company LLP raised substantial doubt on the
ability of The Fashion House Holdings Inc., to continue as a going
concern after it audited the company's financial statements for
the year ended Dec. 31, 2007.

The auditor pointed to the company's recurring net losses and
working capital deficit of $15,481,970 and total capital deficit
of $16,104,628 as of Dec. 31, 2007. On April 16, 2008, the company
and its wholly owned subsidiary filed voluntary petitions under
chapter 11 of the U.S. Bankruptcy Code.


FITNESS HOLDINGS: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Fitness Holdings International, Inc.
        3900 Kilroy Airport Way, Suite 213
        Long Beach, CA 90806

Bankruptcy Case No.: 08-27527

Chapter 11 Petition Date: October 20, 2008

Court: Central District Of California (Los Angeles)

Judge: Barry Russell

Debtor's Counsel: David S Kupetz, Esq.
                  dkupetz@sulmeyerlaw.com
                  Sulmeyer Kupetz
                  333 S Hope St., 35th Fl.
                  Los Angeles, CA 90071
                  Tel: (213) 626-2311

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The Debtor's Largest Unsecured Creditors:

   Entity                      Nature of Claim   Claim Amount
   ------                      ---------------   ------------
Life Fitness                   trade debt        $1,319,446
Dept. 77-2716
Chicago, IL 60678-2716

Aerobics, Inc.                 trade debt        $1,069,858
PO Box 827208
Philadelphia, PA 19182-7208

Precor, Inc.                   trade debt        $749,304
Attn: Amy Hartmann
PO Box 3138
Carolstream, IL 60132-313

Lemond Fitness, Inc.           trade debt        $702,717

Hoist Fitness Systems          trade debt        $637,868

Kamparts, Inc.                 trade debt        $423,207

Amco Distribution Service      trade debt        $398,724

Spri Products, Inc.            trade debt        $242,769

Accell/Bremshey Fitness        trade debt        $220,936

Power Plate North America      trade debt        $194,280

Sterling Rice Group            trade debt        $192,820

Freemotion Fitness             trade debt        $181,090

Humane Manufacturing           trade debt        $108,229

Cap Barbell, Inc.              trade debt        $97,498

T2 Solutions, LLC              trade debt        $83,735

Waterrower, Inc.               trade debt        $69,973

Windes & McClaughry            trade debt        $65,000

Apollo Athletics, Inc.         trade debt        $63,978

Fitness Resource               trade debt        $55,655

Echo Global Logistics          trade debt        $52,979


FORD MOTOR: Tracinda's Stake Sale Casts Doubt on Firm's Health
--------------------------------------------------------------
Tracinda Corp. has sold 7.3 million shares of the common stock of
Ford Motor Co. in the open market for an average price of $2.43
per share, before commissions.

Tracinda said that it will further reduce its 6.43% holdings of
Ford Motor common stock, including the possible sale of all of its
remaining 133,500,000 shares -- approximately 6.09% of the
outstanding shares -- depending upon market conditions and
available sales prices, and that it has contacted an investment
banking firm regarding the possible sale of the shares.

Matthew Dolan and Tamara Audi at The Wall Street Journal report
that the sale has raised new concerns about the health of Ford
Motor as well as the casino and hotel holdings of billionaire
investor Kirk Kerkorian, Tracinda's owner.

WSJ relates that Mr. Kerkorian is looking at losing
$640 million of his original $980 million investment.  Citing a
person briefed on Mr. Kerkorian's decision, WSJ states that Mr.
Kerkorian concluded that there was little chance of making his
investment pay off due to the auto industry's bleak outlook, and
he was concerned that Ford Motor no longer was giving a target
date for returning to profitability.

Tracinda said in a statement that it will shift its investments to
casinos, hotels, oil, and gas.

WSJ states that Mr. Kerkorian used a $600 million credit line to
help finance the Ford stake.  Due to the drop in the prices of
Ford Motor shares, Mr. Kerkorian had to pledge 50 million more
shares of MGM Mirage -- which he controls -- as collateral. Mr.
Kerkorian said in a statement that he has put up 100 million of
his 149 million MGM Mirage shares to back the credit facility.  
WSJ relates that Ford Motor shares have lost 65% since Mr.
Kerkorian began purchasing them, closing at on Tuesday $2.17 on
New York Stock Exchange trading.  

A Ford Motor spokesperson said that Tracinda is still "confident
in and focused on our plan to transform Ford into a lean global
enterprise delivering profitable growth," WSJ reports.

                    About Ford Motor Co.

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
http://www.ford.com/-- manufactures or distributes automobiles in  
200 markets across six continents.  With about 260,000 employees
and about 100 plants worldwide, the company's core and affiliated
automotive brands include Ford, Jaguar, Land Rover, Lincoln,
Mercury, Volvo, Aston Martin, and Mazda.  The company provides
financial services through Ford Motor Credit Company.

The company has operations in Japan in the Asia Pacific region. In
Europe, the company maintains a presence in Sweden, and the United
Kingdom.  The company also distributes its brands in various
Latin-American regions, including Argentina and Brazil.

                          *     *     *

As reported in the Troubled Company Reporter on Oct. 10, 2008,
Fitch Ratings downgraded the Issuer Default Rating of Ford Motor
Company and Ford Motor Credit Company by one notch to 'CCC' from
'B-'.


FRANKLIN PIERCE: Moody's Puts 'Ba3' Debt Rating on Watchlist
------------------------------------------------------------
Moody's Investors Service has placed the Ba3 rating of Franklin
Pierce University (formerly Franklin Pierce College) on watchlist
for possible downgrade.  The rating action impacts $36.9 million
of rated debt, including' the University's Series 1994, 1998, and
2004 bonds issued through the New Hampshire Higher Education and
Health Facilities Authority.  The Series 1998 and 2004 bonds are
insured by ACA Financial Guaranty Corporation, which Moody's does
not rate.  Moody's expects to review the rating again within the
next 90 days.

Legal Security: Payment of the Series 1994 bonds is a general
obligation of the College, further secured by a first security
interest in Gross Receipts, a security interest in all Equipment,
and a mortgage lien on the Facility (land, buildings, and
equipment). Payment of the Series 1998 and Series 2004 bonds is a
general obligation of the College, further secured by a first
security interest in Gross Receipts, a security interest in all
Equipment, a mortgage lien on the Facility (land, buildings, and
equipment), as well as debt service reserve funds.

Debt-Related Rate Derivatives: none

Strengths

  * Growth of net tuition revenue and net tuition per student
    ($15,676 based on draft FY 2008 audit), a critical credit
    factor as the University relies on student charges for close
    to 95% of operating revenue base.  Despite multi-year declines
    in full-time equivalent enrollment, the University has
    successfully grown this revenue stream due to increased
    enrollment in more profitable programs including graduate
    programs, and reduced size of less profitable programs such as
    degree completion programs located at sites outside of the
    main Rindge, New Hampshire campus.

  * Although the University has generated moderate operating
    deficits, by Moody's calculation, in recent years, annual cash
    flow (adding back in depreciation) has been positive and
    covered annual debt service responsibilities.  However,
    principal payments on the Series 1998 bonds were postponed
    until 2008, and the Series 2004 bonds do not begin to amortize
    until 2030.  The University will need to improve its annual
    cash flow in order to cover future heightened debt service.

  * No additional borrowing plans and all of the College's rated
    debt was issued in a fixed rate mode.

Challenges

  * Very thin levels of liquid financial reserves and heavy
    dependence on $5 million Wachovia line of credit (which
    expires in March 2009 but could be extended for longer) for
    cyclical cash flow needs.  In FY 2007, the University had
    $2.2 million of unrestricted financial resources, and Moody's
    expects that amount is lower in FY 2008 due to investment
    losses and investment in capital projects ($6.8 million of
    cash purchases of capital in FY 2008).  Further, $1.5 million
    (approximately one-third of the College's working capital) is
    currently locked up in the Commonfund Short Term Fund.  
    Management's cash flow forecasts demonstrate dependence on the
    bank line of credit for working capital needs through December
    with the additional possibility of spending a portion of the
    unrestricted quasi endowment if necessary and approved by the
    board of trustees.

  * Highly leveraged balance sheet ($55.2 million of direct debt
    outstanding as of 6/30/08, including line of credit fully
    drawn), with expendable resources covering debt less than 0.1
    times and debt service representing 6.8% of operating expenses
    in FY 2007.  Based on draft FY 2008 audit, total cash
    investments (excluding bond trustee held funds) declined to
    $9.5 million, a 23% decline from FY 2007 levels.

  * Line of credit agreement grants the bank a security interest
    in accounts receivable and gross receipts of the University.   
    In conjunction with a past extension of the line of credit,
    the College entered into an intercreditor agreement which
    establishes the liens of the bank and bondholders as being on
    parity.  If the bank decides not to renew or extend the line
    of credit, all principal and accrued interest will be due and
    payable in March 2009.

  * Highly competitive market for traditional-age students at the
    main campus coupled with challenging demographic projections
    in the northeast.  In fall 2008, full-time equivalent
    enrollment at the main Rindge campus declined 5% from fall
    2007 levels, and weak freshmen selectivity of 77% and
    matriculation of 15% highlight the highly competitive
    environment in which Franklin Pierce operates.

  * Uncertain credit impact of University's geographic expansion.     
    In partnership with a health care organization, Franklin
    Pierce will soon begin offering Associate's Degree in nursing
    and Doctor of Physical Therapy degree programs at a leased
    space located in Goodyear, Arizona.  However, Franklin Pierce
    does have experience operating other profitable health
    programs, including the New Hampshire Doctor of Physical
    Therapy program which is projected to generate $1.7 million of
    net revenue in FY 2009.

Outlook

The University's rating is currently under review for possible
downgrade, reflecting concerns about the University's decline in
total cash and investments, thin liquidity (including illiquid
funds in Commonfund Short Term Fund), continued dependence on line
of credit for operating cash flow, and challenging student market
position.

What could change the rating-UP

Currently unlikely; longer term the rating could improve if the
University is able to grow its unrestricted financial resource
base, reduce its dependence on bank line of credit, and maintain
positive operating performance

What could change the rating-DOWN

Deterioration of operating cash flow and debt service coverage;
further declines in unrestricted cash and investments; inability
to extend the line of credit beyond the March 2009 expiration date
or secure alternate bank line of credit

Key Indicators (FY 2007 financial data unless otherwise stated and
fall 2008 enrollment data)

  -- Total Full-Time Equivalent Enrollment: 2,119 FTE enrollment
  -- Fall 2008 Freshmen Selectivity at Rindge Campus: 77.3%
  -- Fall 2008 Freshmen Matriculation at Rindge Campus: 15.0%
  -- Total Financial Resources: $7.6 million
  -- Direct Debt : $54.5 million in FY 2007; $55.2 million in FY
     2008

  -- Expendable Financial Resources-to-Debt: 0.09 times
  -- Expendable Financial Resources-to-Operations: 0.1 times
  -- Three Year Average Operating Margin (average of FY 2005-
     2007): -2.3%

  -- Average Debt Service Coverage: 1.6 times
  -- Reliance on Student Charges: 95.3%

Rated Debt:

  -- Series 1994, 1998, 2004 bonds: Ba3


GATEWAY ETHANOL: Wants William Blair as Financial Advisor
---------------------------------------------------------
Gateway Ethanol, LLC, asks the U.S. Bankruptcy Court for the
District of Kansas for permission to employ William Blair, LLC, as
investment banker and financial advisor.

The Firm will, among other things, advise and assist the Debtor in
connection with any acquisition of all, or a substantial portion
of the capital stock or assets of the Debtor in either a single
transaction or a series of transactions; assist the Debtor in
developing a strategy for pursuing one or more possible
transactions; and review and analyze the business plans and
financial projections prepared by the Debtor.

The Firm will charge the Debtor:

     -- a $50,000 non-refundable monthly fee upon execution of    
        the Debtor's agreement with William Blair

     -- merger and acquisition cash fee:

        (a) $750,000, for transaction valued up to
            $45 million;

        (b) 2.5% of incremental value, for transaction value
            from $45 million to $65 million; and

        (c) 4.0% of incremental value, for transaction value
            from and in excess of $65 million.

      -- Financing Transaction.  Upon the consummation of a
         Financing Transaction, Debtor shall pay William Blair
         a cash fee equal to the greater of $750,000, or the
         sum of:

         (a) 1.0% of the aggregate principal amount of all
             secured notes and bank debt raised or committed,

         (b) 3.0% of the aggregate amount of all unsecured
             and subordinated debt securities raised or
             committed, whether structurally or contractually
             subordinated and whether with the same or
             different lenders; or

         (c) 5.0% of the aggregate amount of all equity and
             equity equivalents -- including convertible
             securities and preferred stock -- placed or
             committed.

The Debtor assures the Court that the Firm is a "disinterested
person" and that it has no connection with, and neither holds nor
represents any interest adverse to the Debtor, its estate,
creditors, or any other parties in interest.

                      About Gateway Ethanol

Pratt, Kansas-based Gateway Ethanol, LLC, operates an ethanol
plant that has a capacity of 55 million gallons a year, according
to Orion Ethanol's Web site.  The Company filed for bankruptcy
protection on October 5, 2008 (Bankr. D. Ks. Case No. 08-22579).  
Laurence M. Frazen, Esq., Megan J. Redmond, Esq., and Tammee E.
McVey, Esq., at Bryan Cave, LLP, represent the Debtor in its
restructuring efforts.  In its filing, the Debtor listed estimated
assets between $50 million to
$100 million and estimated debts between $50 million to
$100 million.


GENERAL MOTORS: Merger Might Help Ease Union Talks, Analyst Says
----------------------------------------------------------------
A merger between General Motors Corp. and Chrysler LLC would be a
high-risk deal, but may give the new company "high leverage" to
renegotiate with the United Auto Workers, Tim Higgins and Katie
Merx at Free Press (Detroit) report, citing J.P. Morgan analyst
Himanshu Patel.

Free Press quoted Mr. Patel as saying, "GM desperately needs a
reason to renegotiate many parts of its 2007 UAW contract."  GM
must renegotiate the "VEBA funding level" and wages for core
workers, the report states, citing Mr. Patel.

Free Press relates that due to the precarious financial positions
of Ford Motor Corp., GM, and Chrysler, UAW had agreed to a deal
that allows the comanies to pay new hires less money than core
workers and to shift billions of dollars of retiree health care
spending to VEBA, an independent trust fund.  According to the
report, the union had agreed to the deal, saying that it had to
make a sacrifice to help the industry better compete against
foreign automakers that have lower costs from their U.S.
workforces.  The report says that the VEBA was a way to guarantee
retiree health care benefits even if the companies go broke.

Jim Millstein, managing director and co-head of Lazard Freres &
Co.'s restructuring group, said in court documents, "Chrysler's
long-term ability to meet its medical obligations to UAW retirees
has deteriorated."

According to Free Press, UAW President Ron Gettelfinger has said
that he wouldn't agree to further delays in the VEBA payments.  
Free Press states that the union already agreed to let GM delay
$1.7 billion in payments to the VEBA that had been scheduled for
2008 and 2009.  Mr. Gettelfinger said he is against a Chrysler-GM
merger that results in more job losses, the report says.

A Wall Street analyst said that GM could "win enough goodwill to
extract further savings from the UAW," if the company is seen as
saving Chrysler from bankruptcy and preserving jobs and benefits,
Free Press states.

Free Press relates that Harley Shaiken, a union expert from
University of California-Berkeley, said, "After closing X-number
of plants, eliminating say 30,000 to 50,000 jobs, my sense is that
the UAW might not be in the best of moods to give further
concessions."

Free Press quoted Mr. Patel as saying, "By saving Chrysler from a
liquidity event, GM may also be able to get itself much-needed
secured bank financing from the same banks that are currently
holding Chrysler debt."

      Bankruptcy May Resolve Contract Problem With Union

Free Press relates that Peter Morici -- a University of Maryland
business professor and former chief economist at the U.S.
International Trade Commission -- said that Chrysler should be
allowed to file for bankruptcy.  According to court filings by the
UAW, a financial analysis made before the economic crisis
indicates an up to 50% chance of a Chrysler insolvency by 2013.

"The simple fact is that the best solution for Chrysler is Chapter
11 to remove the burdens of the UAW contract and scale down the
company to something one half to two thirds its current size.  
That would serve GM's interests, too -- both Ford and GM would
benefit from some capacity and cars going off the market," Free
Press quoted Mr. Morici as saying.

According to Free Press, Mr. Morici said that if GM acquired
Chrysler's Jeep brand and minivan program, "GM would still have to
pay heavy severance bonuses to workers it laid off streamlining
their operations, similar payments would be required to shutter
much of Chrysler's unattractive truck and car operations, and GM
would still have to fund the union health care fund for retired
Chrysler employees."  

                      About Chrysler LLC

Headquartered in Auburn Hills, Michigan, Chrysler LLC --
http://www.chrysler.com/-- a unit of Cerberus Capital
Management LP, produces Chrysler, Jeep(R), Dodge and Mopar(R)
brand vehicles and products.  The company has dealers worldwide,
including Canada, Mexico, U.S., Germany, France, U.K., Argentina,
Brazil, Venezuela, China, Japan and Australia.

                         *     *     *

As reported in the Troubled Company Reporter on Aug. 11, 2008,
Standard & Poor's Ratings Services lowered its ratings on Chrysler
LLC, including the corporate credit rating, to 'CCC+' from 'B-'.

On July 31, 2008, TCR said that Fitch Ratings downgraded the
Issuer Default Rating of Chrysler LLC to 'CCC' from 'B-'.  The
Rating Outlook is Negative.  The downgrade reflects Chrysler's
restricted access to economic retail financing for its vehicles,
which is expected to result in a further step-down in retail
volumes.  Lack of competitive financing is also expected to result
in more costly subvention payments and other forms of sales
incentives.  Fitch is also concerned with the state of the
securitization market and the ability of the automakers to access
this market on an economic basis over the near term, given the
steep drop in residual values, higher default rates, higher loss
severity being experienced and jittery capital market.

                    About General Motors

Headquartered in Detroit, Michigan, General Motors Corp. (NYSE:
GM) -- http://www.gm.com/-- was founded in 1908.  GM employs
about 266,000 people around the world and manufactures cars and
trucks in 35 countries.  In 2007, nearly 9.37 million GM cars and
trucks were sold globally under the following brands: Buick,
Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel,
Pontiac, Saab, Saturn, Vauxhall and Wuling.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security and
information services.

GM Europe is based in Zurich, Switzerland, while General Motors
Latin America, Africa and Middle East is headquartered in
Miramar, Florida.

At June 30, 2008, the company's balance sheet showed total assets
of US$136.0 billion, total liabilities of US$191.6 billion, and
total stockholders' deficit of US$56.9 billion.  For the quarter
ended June 30, 2008, the company reported a net loss of
US$15.4 billion over net sales and revenue of US$38.1 billion,
compared to a net income of US$891.0 million over net sales and
revenue of US$46.6 billion for the same period last year.


GOE LIMA: Files for Ch. 11; Blames Design Flaw and Tight Credit
---------------------------------------------------------------
GOE Lima LLC has filed for Chapter 11 bankruptcy in Toledo, Ohio,
LimaOhio.com reported Friday.  GOE is an abbreviation of Greater
Ohio Ethanol.

According to LimaOhio.com, Gregory Kruger, president and CEO of
GOE Lima, said that a flaw in the design of the five-month-old
ethanol plant and difficulties in obtaining credit forced the
filing.

"It's been a lot of things.  We've had some engineering and design
issues, which have caused us to need to haul off water, which is
an expense we didn't plan on.  Then couple that with the latest
contraction in the credit markets, everybody's tightening up,"
Kruger said.

The Debtor listed more than 200 creditors, including local
investors and contractors.  The city of Lima's utilities
department is listed among the 20 largest unsecured claims with a
$190,546 bill.

Mr. Kruger and his partners had originally planned to open the
plant at the end of February, but problems with a key contractor
and two suppliers delayed completion and resulted in cost overruns
and disputes with the contractors.

The $150 million plant was fully completed only in July.  
"Although the plant has been operational since May, absent needed
repairs and improvement to existing electrical and mechanical
defects, the debtor is unable to achieve 90 percent of its
nameplate ethanol production capacity," the filing reads.  

"Hopefully this will give us a chance to catch our breath and
figure things out," Mr. Kruger said.  "But all our people are
still here.  We're still buying corn, we're still producing
ethanol.  Nothing has changed."

The company lists Gem Inc., of Walbridge, Ohio, which is owed
$2.2 million, as its largest unsecured creditor, followed by BP
Canada, which is owed $1,578,285.

Based in Lima, Ohio, GOE Lima, LLC -- http://www.go-ethanol.com/
-- operates an ethanol production facility in Ohio.  The company
filed for Chapter 11 relief on Oct. 14, 2008 (Bankr. N.D. Ohio
Case No. 08-35508).  Timothy J. Hurley, Esq., at Taft, Stettinius
& Hollister LLP, represents the Debtor as counsel.  When the
Debtor filed for protection from its creditors, it listed assets
and debts of between $100 million and $500 million each.


GRANITE XPRESS: Seeks to Hire Arnstein & Lehr as Bankr. Counsel
---------------------------------------------------------------
Granite Xperts, Inc., asks permission from the Hon. Jack B.
Schmetterer of the U.S. Bankruptcy Court for the Northern District
of Illinois to employ Arnstein & Lehr LLP as bankruptcy counsel.

The Firm will, among other things, advise the Debtor on its powers
and duties as debtor in possession in the continued operation of
its business and management of its property, and negotiate the
terms of the Debtor's use of cash collateral with the Debtor's
secured creditor, National Bank.

The Firm will charge the Debtor these hourly rates:

         Professionals                 Rates
         -------------                 -----
         James A. Chatz                $580
         Barry A. Chatz                $550
         Michael L. Gesas              $550
         Miriam R. Stein               $410
         Michelle G. Novick            $410
         Becky L. Sutton               $210

James A. Chatz, Esq., a partner at the Firm, assures the Court of
the Firm's disinterestedness and that the Firm doesn't hold or
represent an interest adverse to the Debtor or its estate.  

A hearing on the Debtor's request is set for Nov. 6, 2008, at
10:30 a.m.

Elk Grove Village, Illinois-based Granite Xperts, Inc. --
http://baykov.com/-- fabricates and installs solid surface  
countertops to residendital and commercial customers in Illinois,
Michigan, Wisconsin and Indiana.

The company filed for Chapter 11 protection on Oct. 7, 2008
(Bankr. N. D. Ill. Case No. 08-26883).  The company listed assets
of $1 million to $100 million, and debts of $1 million to $100
million.


GREATWIDE LOGISTICS: To be Sold to Secured Lenders
--------------------------------------------------
Greatwide Logistics Services intends to enter into an agreement
to be acquired by an investor group comprised of its first lien
secured lenders, including affiliates of Centerbridge Capital
Partners and the D. E. Shaw group.

Greatwide believes that the transaction will allow it to complete
its financial restructuring while providing an efficient way to
address the company's capital structure needs with no disruption
to its operations or customer service.  Greatwide expects the
sale to reduce its debt and interest burden, enhance its
competitiveness and position the company for continued growth and
profitability.

"We have been pursuing measures to substantially strengthen our
capital structure, and we believe the planned acquisition will
accomplish those objectives," Raymond B. Greer, president and
chief executive officer of Greatwide, said.  "Greatwide's
fundamentals are solid. We believe the proposed transaction is a
prudent and necessary step to significantly reduce our debt and
interest burden in order to enhance our flexibility to continue to
invest and grow."

To implement the transaction, Greatwide will sell the company
under Section 363 of the United States Bankruptcy Code.  Other
parties will have an opportunity to submit higher and better
offers to purchase the company under this Court-supervised process
and Greatwide anticipates the sale transaction will be completed
early next year.

"We believe this process is the best and most certain way to
complete our financial restructuring," Mr. Greer said.  
"Greatwide is a strong company and we expect that moving forward
quickly with this transaction will put the company in a
significantly stronger overall financial position, which is good
news for our company and those we serve."

In conjunction with this process, certain members of
Greatwide's existing first lien lender group will provide
$73.6 million in new "debtor in possession" financing to support
the business through the 363 sale process.  Greatwide is pleased
to have the strong support of its first lien lenders and expects
to receive preliminary approval for the financing by the end of
the week. Upon receiving the necessary approvals, the financing
facility will be used to fund ongoing operations.  In addition,
the company will continue to meet all of its obligations to its
customers, employees, independent contractors, agents and capacity
providers.

"We are fortunate that we have a solid and profitable business
model and an outstanding blue-chip customer base," Mr. Greer
concluded.  "We expect that the new financing facility will
allow us to continue to meet the needs of our customers,
employees, contractors, agents and capacity providers. We look
forward to continuing to operate our business as usual while we
take this important step to make Greatwide stronger financially."

            About Greatwide Logistics Services, Inc.

Headquartered in Irving, Texas, Greatwide Logistics Services Inc.,
is a non-asset based North American provider of "closed loop"
transportation services to the grocery and consumer products
sectors.  

The company also provides non-asset-based truckload management,
truck brokerage and warehouse and distribution logistics services.  
Greatwide is a wholly-owned subsidiary of GWLS Holdings, Inc.

                           *     *     *

As reported in the Troubled Company Reporter on July 15, 2008,
Moody's Investors Service lowered the probability of default
rating of Greatwide Logistics Services, Inc. to D from B3, and its
corporate family rating to Ca from Caa1.


HILITE INT'L: S& Junks Corporate Credit on Liquidity Concerns
-------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term corporate
credit rating on auto supplier Hilite International Inc. to 'CCC+'
from 'B-'.  At the same time, S&P lowered its issue-level ratings
on the subsidiaries' senior secured debt.  The outlook is
negative.

"The rating actions reflect our concerns about the company's
ability to maintain adequate liquidity during the prolonged period
of weak demand in the auto market," said S&P's credit analyst
Nancy Messer.  "We expect the weak global economy to extend well
into 2009 and suppress consumer purchases of big-ticket items such
as autos," she continued.  S&P now expects U.S. light-vehicle
sales of 13 million units in 2009, and light-vehicle sales in
Europe are continuing to weaken.  Hilite operates in the
engineered automotive components business, which is considerably
fragmented.  Its competitors are typically large Tier I suppliers
that do not make valve technology a core focus but have
considerable bargaining power for their size.

Hilite's tight liquidity and highly leveraged financial profile
make the company, as a relatively small participant in the
intensely competitive auto industry, particularly vulnerable to a
possibly prolonged and deep period of weak market demand.  
Cleveland-based Hilite supplies highly engineered transmission and
engine components, including electronic valves, to automotive
original equipment manufacturers and Tier I auto suppliers.  These
customers are under significant pressure from the weak demand for
their products and the worsening economy.  Significant customers
are General Motors Corp., BMW AG, the Audi unit of Volkswagen AG,
Siemens AG, and Daimler AG.  

Also, Hilite's customer base lacks diversity, which is typical of
auto suppliers; the five largest customers provide more than half
of the company's revenues.  The Michigan-based OEMs, which are
suffering market share erosion, provide 25% to 30% of its
revenues.  About 50% of its revenues are generated in Germany, and
the balance in the rest of the world.  In the long term,
regulations that require vehicle-emission reductions and improved
fuel efficiency will create growth opportunities for Hilite's
products.

In addition, the company has relatively high operating leverage
resulting from significant fixed costs.  Hilite is exposed to
commodity price increases, including those on steel, plastic,
copper, and aluminum, in the materials it procures for
fabrication.

Hilite's revenues for the first half of 2008 rose about 7% year
over year, including the favorable effect of foreign-currency
exchange.  However, the labor strike in the U.S. at American Axle
& Manufacturing Holdings Inc. hurt sales of Hilite's stamping
products for GM's GMT900 platform.

Despite the revenue rise, adjusted EBITDA fell about 8% in the
first half of 2008 year over year, as gross profit margin
declined.  The company has taken restructuring actions, including
productivity improvements in Europe and a focus on lean
manufacturing, and has increased sourcing of raw materials from
low-cost countries.  Although Hilite should benefit from slightly
lower capital spending as a result of fewer product launches, its
E&D costs have risen in 2008 because of new business contracts.

Credit measures were weak as of June 30, 2008, and the second half
of the year will be more challenging.  The company has not
generated free cash from operations in 2008 because of investment
in engineering to support newly won business.  Hilite could
generate positive cash flow in 2009 if revenues expand as planned
and fixed-cost absorption improves, but the challenging industry
conditions in the U.S. and Europe could easily undermine this
prospect.

Liquidity is tight.  S&P does not expect the company to generate
any material free cash from operations until at least 2009, given
the weak sales in North America and Europe and the need for near-
term investment to support products scheduled for launch in 2009
and 2010.  Production volumes for these launches are likely to
fall short of original expectations if global economic conditions
remain weak.

The negative outlook reflects S&P's concern about Hilite's ability
to maintain adequate liquidity because S&P expects very weak OEM
production volumes in the U.S. and Europe for at least another
year.  The outlook also reflects volatile market conditions,
including pricing pressures and commodity cost increases.

S&P could lower the ratings further if Hilite is unable to
maintain adequate liquidity in 2008 in light of negative cash flow
and limited bank facility availability--for example, if the
company is not able to remain in compliance with the leverage
covenant or receive a timely waiver.  S&P estimates that could
occur if Hilite is unable to expand trailing-12-month adjusted
EBITDA by more than 15% by year-end 2008 from the level at
June 30, 2008.

S&P could revise the outlook to stable or positive in the long
term if the company can generate free cash flow, perhaps by
increasing revenues through new product volumes while stabilizing
margins.  In the current market environment, though, this scenario
is unlikely.


HRP MYRTLE: Objects to Probe on Feasibility of Reorganization
-------------------------------------------------------------
Bill Rochelle of Bloomberg News reports that HRP Myrtle Beach
Holdings LLC and its debtor-affiliates filed objection with the
U.S. Bankruptcy Court for the District of Delaware to the request
of their senior secured lenders owed $15 million to conduct an
investigation intended to prove that reorganization is impossible
and that a "prompt sale" is the only alternative.

The Court, according to the report, has scheduled a hearing on
Oct. 22, 2008 to consider the lenders' request.

                      About HRP Myrtle

Based in Myrtle Beach, South Carolina, HRP Myrtle Beach Holdings,
LLC -- owns and operates Hard Rock Park, a rock-n-roll theme park
in Myrtle Beach, South Carolina, under a long-term license
agreement with Hard Rock Cafe International (USA), Inc.  The
company and six of its affiliates filed for Chapter 11 protection
on Sept. 24, 2008 (Bankr. D. Del. Lead Case No.
08-12193).  Steven Goodwin will serve as the Debtors' chief
executive officer.  The U.S. Trustee for Region 3 has not
appointed creditors to serve on an Official Committee of Unsecured
Creditors.  When the Debtors filed for protection from their
creditors, they listed assets and debts of between $100 million
and $500 million each.


IMAGE ENT: Has Until Feb. to Comply with Nasdaq Market Value Rule
-----------------------------------------------------------------
Image Entertainment, Inc. received notification that NASDAQ has
suspended, for a three month period, the enforcement of the rule
requiring a minimum market value of publicly held shares.  The
company will now have until Feb. 6, 2009 to achieve compliance
with the rule.

On Aug. 4, 2008, the company received a letter from the Listing
Qualifications Department of The NASDAQ Stock Market indicating
that for the last 30 consecutive trading days, the company's
publicly held shares had not maintained a minimum market value of
$15 million as required under NASDAQ Marketplace Rule 4450(b)(3).
On Oct. 16, 2008, NASDAQ implemented a temporary suspension of
enforcement of Marketplace Rule 4450(b)(3) until Friday, Jan. 16,
2009, due to the volatility of current market conditions.  

As a result of the temporary suspension, NASDAQ informed the
company that its deadline for compliance with Marketplace Rule
4450(b)(3) has been extended from Nov. 3, 2008 to Feb. 6, 2009.
During this interim period, the company's common stock is expected
to continue to trade on The NASDAQ Global Market.  If compliance
with Marketplace Rule 4450(b)(3) cannot be demonstrated by
Feb. 6, 2009, the staff of The NASDAQ Stock Market Listing
Qualifications department will deliver a written notification to
the company that its securities will be delisted from The NASDAQ
Global Market.  If the company receives a delisting notice, the
company may appeal the Staff's determination to a Listing
Qualifications Panel.  Alternatively, the company may apply to
transfer its securities to The NASDAQ Capital Market.

                     About Image Entertainment

Headquartered in Chatsworth, California, Image Entertainment, Inc.   
(NASDAQ:DISK) -- http://www.image-entertainment.com/-- is an  
independent licensee, producer and distributor of home
entertainment programming in North America, with approximately
3,500 exclusive DVD titles and approximately 370 exclusive CD
titles in domestic release and approximately 600 programs
internationally via sublicense agreements.  For many of its
titles, the company has exclusive audio and broadcast rights and,
through its subsidiary Egami Media, Inc., has digital download
rights to approximately 2,000 video programs and over 300 audio
programs containing more than 4,500 tracks.


IRON TREE: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Iron Tree Trucking, Inc.
        PO Box 3518
        Shawnee, OK 74802

Bankruptcy Case No.: 08-14559

Type of Business: The Debtor is a local truck operator.

Chapter 11 Petition Date: October 15, 2008

Court: Western District of Oklahoma (Oklahoma City)

Judge: T.M. Weaver

Debtor's Counsel: James H. Bellingham, Esq.
                  jbellingham@bcllawfirm.com
                  2050 Oklahoma Tower
                  210 Park Avenue, Suite 2050
                  Oklahoma City, OK 73102
                  Tel: (405) 235-9371

Total Assets: $522,897

Total Debts: $4,589,128

A list of the Debtor's largest unsecured creditors is available
for free at:

            http://bankrupt.com/misc/okwb08-14559.pdf


JAMES WELLHAUSEN: Case Summary & Nine Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: James A. Wellhausen
        Karen L. Wellhausen
        1451 Champion Forest Ct.
        Wheaton, IL 60187

Bankruptcy Case No.: 08-28122

Chapter 11 Petition Date: October 20, 2008

Court: Northern District of Illinois (Chicago)

Debtor's Counsel: Michael J. Davis, Esq.
                  mdavis@springerbrown.com
                  Springer, Brown, Covey, Gaertner, &Davis
                  400 S. County Farm Road, Suite 330
                  Wheaton, IL 60187
                  Tel: (630) 510-0000 Ext. 29
                  Fax: (630) 510-0004

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

A list of the Debtor's largest unsecured creditors is available
for free at:

            http://bankrupt.com/misc/ilnb08-28122.pdf


JG WENTWORTH: Moody's Reviews Ratings on Challenged Funding
-----------------------------------------------------------
Moody's Investors Service placed the ratings of J.G. Wentworth,
LLC ("JGW", Corporate Family Rating B2, Senior Secured Bank Credit
Facility B2) under review for possible downgrade.

The review relates to the company's challenged funding and
liquidity position, including potential exposure to further margin
calls on its warehouse facility.  The company's funding depends on
a secured warehouse facility and term securitization markets. The
current highly unfavorable and volatile market conditions have
applied pressure and uncertainty to the company's funding and
liquidity profile, and have also negatively impacted the company's
profitability.  The company's flexibility to adjust its pricing to
reflect increased funding costs might be limited due to the
required court approval process.

During its review Moody's will focus on JGW's near-term funding
and liquidity profile, including its success in executing a term
securitization transaction and renewing the credit facility
provided by its major shareholder maturing in December 2008.  
Moody's will also analyze potential changes to the company's
capital structure and funding model, as well as the potential
effect on JGW's long-term profit dynamics, given potential for
margin compression driven by the severe dislocation in the capital
markets.

J.G. Wentworth is located in Bryn Mawr, Pennsylvania, and reported
assets of approximately $367 million at June 30, 2008.


JMJ ORGANICS: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: JMJ Organics, Ltd.
        1006 Spanish Cove Dr.
        Crosby, TX 77532

Bankruptcy Case No.: 08-36642

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                                     Case No.
        ------                                     --------
        Carey Dean and Bernice France Warren Jr.   08-36594

Chapter 11 Petition Date: October 17, 2008

Court: Southern District of Texas (Houston)

Judge: Jeff Bohm

Debtor's Counsel: Julie Mitchell Koenig, Esq.
                  jkoenig@towkoenig.com
                  Tow and Koenig PLLC
                  26219 Oak Ridge Drive
                  The Woodlands, TX 77380
                  Tel: (281) 681-9100
                  Fax: (832) 482-3979

Estimated Assets: $1,000,000 to $10,000,000

Estimated Debts: $500,000 to $1,000,000

The Debtor did not file a list of 20 largest unsecured creditors.


JOHN KRETCHMAR: Court Extends Deadline for Schedules to Oct. 21
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
extended, at the behest of John Kretchmar, to extend the deadline
for the filing of the Debtor's schedules of assets and
liabilities, and statement of financial affairs to Oct. 21, 2008.

The deadline for the filing of the schedules and statements was
initially set for Sept. 30, 2008.  The Debtor asked the Court to
extend the filing deadline by 21 days.  

The Debtor is a real estate develooper who owns several pieces of
real estate directly in his name, through land trustes, or various
corporate entities.  The Debtor and his attorneys are in the
process of reviewing documentation relating to all the real
estate, to ascertain their proper ownership before filing the
schedules.

Chicago, Illinois-based John Kretchmar --http://johnkretchmar.com/
-- is a broker.  He filed for Chapter 11 protection on Sept. 15,
2008 (Bankr. N. D. Ill. Case No.
08-24430).


JOSEPH RIDGEWAY: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Joseph A. Ridgeway, II
        aka Joseph A. Ridgeway
        aka Joseph A Ridgeway, IV
        aka Joseph A. Ridgeway MD
        fdba Community Radiology, Inc.
        30 Ashbourne Rd.
        Bexley, OH 43209

Bankruptcy Case No.: 08-59969

Chapter 11 Petition Date: October 15, 2008

Court: Southern District of Ohio (Columbus)

Debtor's Counsel: Richard Dennis Palmer, Esq.
                  rdpalmerlaw@aol.com
                  2550 Corporate Exchange Drive, Suite 24
                  Columbus, OH 43231
                  Tel: (614) 823-8577
                  Fax: (614) 891-0041

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

The Debtor did not file a list of 20 largest unsecured creditors.


KARYKEION INC: U.S. Trustee Sets 341(a) Meeting for November 18
---------------------------------------------------------------
The United States Trustee for the Central District of California
will convene a meeting of creditors of Karykeion Inc. at 11:00
a.m., on Nov. 18, 2008, at Room 105, 21051 Warner Center Lane in
Woodland Hills, California.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Headquartered in Studio City, California, Karykeion Inc. operates
two hospitals known as Community Hospital of Huntington Park and
Mission hospital of Huntington Park.  The Debtor filed for Chapter
11 protection on Sept. 22, 2007 (Bankr. C.D. Calif. Case No.
08-17254).  Michael H. Weiss, Esq., at Fainsbert Mase &
Snyder LLP, represents the Debtor as its proposed counsel.  The
Official Committee of Unsecured Creditors has selected Buchalter
Nemer P.C. as its counsel.  When the Debtor filed for protection
from its creditors, it listed both assets and debts of between
$10 million and $50 million.


KINGS PEAK: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Kings Peak Capital, LLC
        8504 South Kings Hill Drive
        Salt Lake City, UT 84121

Bankruptcy Case No.: 08-27014

Chapter 11 Petition Date: October 14, 2008

Court: District of Utah (Salt Lake City)

Debtor's Counsel: Lee Rudd, Esq.
                  Email: leerudd@ruddlaw.com
                  P.O. Box 57782
                  Salt Lake City, UT 84157-7782
                  Tel: (801)268-2808
                  Fax: (866)724-6381

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

The Debtor did not file a list of 20 largest unsecured creditors.


KIP WILLIAMS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Kip R. Williams
        aka Kip Randall Williams
        Lisa F. Williams
        aka Lisa Ford Williams
        aka Lisa Ford
        fdba Kip Williams Boat Country, Inc.
        2115 Johnny Murphy Road
        Dothan, AL 36301

Bankruptcy Case No.:  08-11711

Chapter 11 Petition Date:  October 17, 2008

Court:  Middle District of Alabama (Dothan)

Judge:  William R. Sawyer

Debtor's Counsel: J. Kaz Espy, Esq.
                  lynnia@emppc.com
                  Espy, Metcalf & Espy, P.C.
                  PO Drawer 6504
                  Dothan, AL 36302-6504
                  Tel: 334-793-6288
                  Fax : 334-712-1617

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

A list of the Debtor's largest unsecured creditors is available
for free at:

            http://bankrupt.com/misc/almb08-11711.pdf


KM INVESTMENTS: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: KM Investments of Harltand, L.L.C.
        27387 Woodward Avenue
        Berkely, MI 48072

Bankruptcy Case No.: 08-65367

Chapter 11 Petition Date: October 16, 2008

Court: Eastern District of Michigan (Detroit)

Judge: Steven W. Rhodes

Debtor's Counsel: John D. Hertzberg, Esq.
                  jdhertz@hertzbergpc.com
                  30150 Telegraph Rd., Suite 444
                  Bingham Farms, MI 48025
                  Tel: (248) 540-3200

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

The Debtor did not file a list of 20 largest unsecured creditors.


LANDRY'S RESTAURANTS: S&P Keeps B Corp. Credit Rating on WatchNeg
-----------------------------------------------------------------
Standard & Poor's Ratings Services that its ratings on Houston-
based Landry's Restaurants Inc., including the 'B' corporate
credit rating, remain on CreditWatch with negative implications,
where they were placed on Jan. 28, 2008.  The ratings on its
unrestricted subsidiary, Las Vegas-based Golden Nugget Inc. will
also remain on CreditWatch with negative implication, where they
were placed Jan. 28, 2008.

This follows the company's announcement that its CEO and Chairman
Tilman J. Fertitta again lowered his offer to purchase the
outstanding shares of the company to $13.50 from $21.00 and that
prospective lenders Jefferies & Co. Inc. and Wells Fargo Foothill
LLC have agreed to only provide $500 million of debt to fund the
transaction and refinance the company's existing debt.  
Previously, the lenders committed $565 million of debt financing
and cited higher costs of capital and limited availability of
capital as the primary reasons for the reduced commitments.  

Even if Mr. Fertitta's offer is not completed, Landry's also
announced that it received a similar commitment to refinance the
company's current debt.  Landry's senior secured credit facility
matures Dec. 31, 2008, and its unsecured notes effectively mature
March 1, 2009, since holders can accelerate redemption of
principal and accrued interest at that point.

On Sept. 15, 2008, S&P announced that it would affirm the 'B'
corporate credit rating on Landry's given the previous $21 offer
and financing terms.

"With the new offer," said S&P's credit analyst Charles Pinson-
Rose, "the company would have less funded debt, but interest costs
will likely be considerably higher and the terms much more
restrictive."  Thus, interest coverage and cash flow metrics may
be appropriate for the current rating category.  "We expect to
communicate our ratings decision once we know the terms of the new
financing," added Mr. Pinson-Rose, "and resolve the CreditWatch
once the company has a longer term capital structure.


LINDEN AVENUE: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Linden Avenue Properties, LLC
        938 Linden Avenue
        South San Francisco, CA 94080

Bankruptcy Case No.: 08-31999

Chapter 11 Petition Date: October 20, 2008

Court: Northern District of California (San Francisco)

Debtor's Counsel: John S. Morken, Sr., Esq.
                  jomork@aol.com
                  Morken Law Office
                  760 Market St., Suite #938
                  San Francisco, CA 94102
                  Tel: (415) 391-6140

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

The Debtor did not file a list of 20 largest unsecured creditors.


LINENS 'N THINGS: Liquidators Begin Inventory Sale at 371 Stores
----------------------------------------------------------------
Liquidators have started selling off merchandise and inventory at
371 Linens 'n Things stores that remain open.  Judge Christopher
Sontchi of the U.S. Bankruptcy Court of the Delaware approved a
joint offer by a group of liquidators that guaranteed at least
$475,500,000 in proceeds from a going-out-of-business sale at the
stores.  The liquidation comes five months after Linens 'n Things
Inc., and its affiliates and subsidiaries, which comprised the
second largest specialty retailer of home textiles in North
America, sought bankruptcy protection from creditors.  LNT's
original plan was to shed off 120 underperforming stores, but
keep most of its 589-store portfolio in the U.S. and Canada open.  
However, further deterioration of the economy in the U.S., and
tight deadlines set by banks who gave the Clifton, New Jersey-
based retailer $700,000,000 to fund its restructuring, pushed the
company to close more stores, and ultimately fold up.

Linens 'n Things set an October 14 auction to consider bids to
liquidate, partially or all, of its assets, or buy its business
as a going concern.  The Debtors, however, canceled the auction
because no other qualified bid was received by Oct. 13, other
than the joint bid of Gordon Brothers Retail Partners, LLC, Hilco
Merchant Resources, LLC, SB Capital Group, LLC, Tiger Capital
Group, LLC, Hudson Capital Partners, LLC, and Great American
Group, LLC.  The group by Gordon Brothers, et al., was earlier
selected as stalking-horse bidder, and signed an agency agreement
with the Debtors, pursuant to which they will promptly pursue
LNT's liquidation absent a higher and better offer.

Richard Kaye, executive vice president of Hilco, said it was
impossible to pinpoint as to how long the Closing Store Sales
would take, but he said it could last for six to 12 weeks, News
Herald reports.  "It's on a store-to-store basis," Mr. Kaye said.  
He added that the sales would be final, with the Closing Stores
accepting cash and major credit cards, but not checks.

The stores are expected to be completely closed in less than 11
weeks, by Jan. 1, 2009, at the latest.

Judge Sontchi ruled that all sale proceeds received by the
Debtors, and credited against the liquidators' payment
obligations, will remain subject to the liens and claims of
General Electric Capital Corporation, as administrative agent and
collateral agent for itself and (i) a syndicate group of
prepetition lenders, and (ii) other debtor-in-possession lenders.

After deciding to scrap their Plan of Reorganization, filed
Aug. 29, 2008, the Debtors entered into an accord with GE Capital,
which set the timeline for LNT's liquidation or sale.  The Plan
had contemplated LNT's exit from bankruptcy as a smaller, yet
profitable store chain by December, but LNT failed to move forward
with the Plan -- after holders of $650,000,000 in senior notes
issued prepetition, who were offered recovery in the form of
shares of stock of reorganized LNT, did not convey support to the
Plan.

The Court also approved an agency agreement inked by the Debtors
with GSI Commerce Solutions, Inc., and Hilco Consumer Capital
LLC.  Pursuant to the agreement, GSI and HCC will act as agent of
the Debtors to sell "Internet Merchandise" of LNT.  Their deal
provides that HCC will dispose of all merchandise owned by LNT
located at the warehouse of GSI at Shepherdsville, Kentucky, and
will remit at least $9,000,000 in proceeds to LNT.

LNT on its Web site said that it is GOING OUT OF BUSINESS and all
items are now sold at up to 30% off.

                     Landlords, Other Parties
                  Express Concerns over GOB Sales

Several landlords, the U.S. Trustee, county treasurers and other
entities filed objections and responses to the Debtors' proposed
closing sales.  Those parties included:

   * 8650 Villa La Jolla, Inc.;
   * Camino Real LLC, et al.;
   * Developers Diversified Realty Corp., et al.;
   * First Interstate Avon, Ltd.;
   * Fourth Quarter Properties VII, Inc.;
   * GE Money Bank, Inc.;
   * Governor's Square Mall, et al.;
   * GSI Commerce Solutions, Inc.;
   * Hagan Development Company;
   * Parkway Pointe Retail Corp., et al.;
   * The Macerich Company, et al.;
   * Treasurer of Douglas County, in Colorado;
   * Treasurer of El Paso County, in Colorado; and
   * Treasurer of Spokane County, in Washington.

The objections asserted by parties are:

   -- many aspects of the Closing Store Sales are not addressed
      by the Sale Guidelines;

   -- the Sale Guidelines are not sufficient to protect the
      landlords' interests in the affected leases or the leased
      premises;

   -- allowing the Closing Store Sales to go forward as proposed,
      without adequate limitations, will disturb the quiet
      enjoyment and economic prosperity of the premises and other
      tenants;

   -- the Sale Request does not contain provisions dealing with
      the assumption and assignment of nonresidential real
      property leases in the event of a sale to a going concern
      bidder;

   -- the Sale Procedures do not provide the landlords with
      sufficient time to analyze any documentation that would be
      provided by any qualified bidder as to adequate protection
      of future performance under the Leases;

   -- the Debtors should be compelled to make full payment of
      Lease obligations, in advance, on the first of the month;

   -- if the Debtors or the Agent seek to occupy the premises,
      and conduct Closing Store Sales beyond the date the Leases
      are deemed rejected;

   -- the Sale Request does not propose adequate assurance under
      Section 365 of the Bankruptcy Code; and

   -- the Agency Agreement cannot create greater rights than
      those of the Debtors.

Roberta A. DeAngelis, acting U.S. Trustee for Region 3, opposed
the Debtors' request to retain key non-insider headquarters
employees during the pendency of the Store Closing Sales, and to
incentivize the employees.  Ms. DeAngelis asserts that the
proposal lacks of adequate notice and failed to meet the
standards of Section 503(c) of the Bankruptcy Code, and the Bonus
Plans may constitute severance plans and be subject to the
standards of Section 503(c)(2).

The County Treasurers asked the Court to direct the Debtors to
have the sale proceeds applied first to satisfy the Debtors'
obligations, including personal property taxes, interest, and
penalties.

                   About Linens 'n Things, Inc.

Headquartered in Clifton, New Jersey, Linens 'n Things, Inc. --
http://www.lnt.com/-- is the second largest specialty retailer of     
home textiles, housewares and home accessories in North America.
As of Sept. 30, 2008, Linens 'n Things operated 411 stores in 47
states and seven provinces across the United States and Canada.  
The company is a destination retailer, offering one of the
broadest and deepest selections of high quality brand-name as well
as private label home furnishings merchandise in the industry.
Linens 'n Things has some 585 superstores (33,000 sq. ft. and
larger), emphasizing low-priced, brand-name merchandise, in more
than 45 states and about seven Canadian provinces. Brands include
Braun, Krups, Calphalon, Laura Ashley, Croscill, Waverly, and the
company's own label.  Linens 'n Things was acquired by private
equity firm Apollo Management in 2006.

On May 2, 2008, these Linens entities filed chapter 11 petition
(Bankr. D. Del.): Linens Holding Co. (08-10832), Linens 'n Things,
Inc. (08-10833), Linens 'n Things Center, Inc. (08-10834),
Bloomington, MN., L.T., Inc. (08-10835), Vendor Finance, LLC
(08-10836), LNT, Inc. (08-10837), LNT Services, Inc. (08-10838),
LNT Leasing II, LLC (08-10839), LNT West, Inc. (08-10840), LNT
Virginia LLC (08-10841), LNT Merchandising company LLC (08-10842),
LNT Leasing III, LLC (08-10843), and Citadel LNT, LLC (08-10844).
Judge Christopher S. Sontchi presides over the case.

Mark D. Collins, Esq., John H. Knight, Esq., and Jason M. Madron,
Esq., at Richards, Layton & Finger, P.A., provide Linens 'n Things
with bankruptcy counsel.  The Debtors' special corporate counsel
are Holland N. O'Neil, Esq., Ronald M. Gaswirth, Esq., Stephen A.
McCaretin, Esq., Randall G. Ray, Esq., and Michael S. Haynes,
Esq., at Morgan, Lewis & Bockius, LLP. The Debtors' restructuring
management services provider is Conway Del Genio Gries & Co., LLC.
The Debtors' CRO and Interim CEO is Michael F. Gries, co-founder
of Conways Del Genio Gries & Co., LLC. The Debtors' claims agent
is Kurtzman Carson Consultants, LLC. The Debtors' consultants are
Asset Disposition Advisors, LLC, and Protivit, Inc. The Debtors'
investment bankers are Financo, Inc., and Genuity Capital Markets.  
(Bankruptcy News About Linens 'n Things, Issue No. 20; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or  
215/945-7000)    


LITTLE PROFESSIONALS: Stops Operations; Closes Centers
------------------------------------------------------
Bill Kirk at The Eagle-Tribune reports that Little Professionals
day-care center on Route 114 has closed permanently, putting 30
people out of work.

The Eagle-Tribune relates that another 20 workers were laid off
from Little Professionals' two other locations in Chelmsford and
Woburn.

Citing company owner Jim Richards, The Eagle-Tribune relates that
the Hon. Joel B. Rosenthal of the U.S. Bankruptcy Court for the
District of Massachusetts ordered the copmany to close, after 18
months of negotiations with creditors failed.

Jim Richards and his wife Connie opened their first center in
Chelmsford in 1994, and later opened the Woburn facility.  Mr.
Richards said that those locations are leased and have been
closed, the report states.  The Richardses purchased 1.5 acres at
the intersection of Route 114 and Sharpners Pond Road in 2002.  
The Eagle-Tribuen quoted Mr. Richards as saying, "There was a
delay in building the center.  I was the developer, and we had
setbacks with the town and setbacks with the builder.  It took an
extra year to finish the building.  It was the first time I ever
developed a piece of property.  By the time we got around to
getting enrollment in there, we found ourselves behind."

According to The Eagle-Tribune, the Richardses financed an North
Andover facility with $2.5 million from Salem Five and New England
Certified Development Corp., which provides Small Business
Administration loans.  Little Professionals also owed back taxes
to the IRS, the report says.

The Eagle-Tribune reports that parents who are owed money may have
to wait until the bankruptcy proceedings are finalized.

North Andover, Massachusetts-based Little Professionals, Inc., and
its affiliate, Jame-Morgan Realty Trust One, LLC, operates a child
care center.  The companies filed for Chapter 11 protection on
March 6, 2007 (Bankr. D. Mass. Case No. 07-40769).  Michael B.
Feinman, Esq., at Feinman Law Offices represents the Debtors in
their reorganization efforts.  

Little Professionals listed assets of $183,025 and debts of
$3,324,716, while James-Morgan Realty listed assets of $2,500,030
and debts of $2,893,137.


MEADE INSTRUMENTS: Cuts Net Loss to $2MM in Quarter Ended Aug. 31
-----------------------------------------------------------------
Meade Instruments Corp. reported financial results for three
and six months ended Aug. 31, 2008.

The company reported net loss of $2.0 million for the second
quarter of fiscal 2009, compared with a net loss of $4.0 million
in the same quarter of fiscal 2008.  Excluding the $0.8 million
gain on the sale of the Simmons brand and associated inventory in
June 2008, the company would have reported a net loss of
$2.8 million.

The company reported net sales of $12.6 million for the second
quarter of fiscal 2009 ended Aug. 31, 2008, compared with
$16.2 million for the second quarter of fiscal 2008.

The $3.6 million decrease in net sales was due to the company's
divestiture of its Simmons and Weaver sports optics brands
earlier in the year, and lower sales of the company's high-end
telescopes and related accessories due to the transfer of the
company's manufacturing facilities to Mexico.  The company is
still ramping up this facility, and as a result has not yet
reached the level of production to ship sufficient high-end
telescopes to meet market demand, resulting in a backlog of
orders.  The company expects to work through this backlog over
the next two quarters.

For six months ended Aug. 31, 2008, the company reported net loss
of $0.26 million compared to net loss of $$8.22 million in the
same period in the previous year.

"Our second-quarter fiscal 2009 results were affected by the
actions we have taken over the past year to streamline the company
and improve operations," Steve Muellner, president and chief
executive officer of Meade, said.  "Although we have been able
to improve gross margins as we completed our second quarter of
manufacturing high-end telescopes in Mexico, and we are beginning
to realize cost savings from the transition, the company still has
work to do in lowering its cost structure to bring it in line with
reduced revenue projections.  We will continue with implementing
further headcount reductions, and taking other proactive measures
to further decrease corporate overhead and manufacturing
expenses."

"We are taking a cautious stance for the remainder of the year
given the significant contractions in consumer discretionary
spending in recent weeks, and the loss of business confidence,"
Mr. Muellner continued.  "The weakened macroeconomic environment
suggests that this will be a very challenging year for retailers
and related manufacturers such as Meade.  While we continue to be
in compliance with our bank covenants, we are monitoring sell-
through closely to ensure that our liquidity remains sufficient.
We are also actively seeking alternatives for our excess space in
Irvine, California.  The board and management team are assessing a
variety of options to strengthen the organization and better
position the company for profitability."

                  Liquidity and Capital Resources

During the six months ended Aug. 31, 2008, the company funded
its operations from proceeds of approximately $15.3 million
from the sale of its Simmons, Weaver and Redfield brands and
related assets and by utilizing its cash on hand.  Cash flow
from operating activities was negatively affected principally
by operating losses for the period, excluding the gain on its
brand sales of approximately $5.3 million.

The company had $4.0 million in cash at Aug. 31, 2008, a decrease
compared to $4.3 million at Feb. 29, 2008.  The company had no
borrowings on its domestic credit facility and minimal
borrowings on its foreign credit facility at Aug. 31, 2008,
compared to $5.9 million of borrowings on its credit
facilities at Feb. 29, 2008.

On Sept. 24, 2008, the company entered into a loan agreement with
VR-Bank Westmunsterland eG.  The material terms and conditions of
the Loan Agreement include a revolving line of credit of up to
EUR7.5 million through Feb. 28, 2009.  The revolving line of
credit bears interest at 8.35% and is variable, depending on
certain market conditions as set forth in the Loan Agreement.
The interest rate on the company's term loan adjusted to Euribor
plus 2%.  The revolving line of credit and term loan are
collateralized by all of the assets of Meade Europe and are
further collateralized by a guarantee by Meade Instruments Corp.
An additional condition to the Loan Agreement is a requirement
that Meade Europe maintain a minimum capitalization of
approximately EUR5.0 million and 30% of assets.

During the third quarter of fiscal 2008, the company's board of
directors had formed a special committee that has engaged an
investment bank to assist the company in exploring strategic
alternatives.  Subsequent to fiscal 2008, the company disclosed
that it had sold its Simmons, Weaver and Redfield sport optics
brands for gross proceeds of $15.3 million.  However, the review
of strategic alternatives is continuing.  The alternatives may
involve a financial restructuring of the company's capital
structure or potentially the sale of all or a portion of the
company.  At this time, there can be no assurance that the
company will be able to execute on any strategic alternatives.

Capital expenditures, including financed purchases of equipment,
aggregated $0.2 million and $0.3 million for the six months ended
Aug. 31, 2008 and 2007.  The company had no material capital
expenditure commitments at Aug. 31, 2008.

At Aug. 31, 2008, the company's balance sheet showed total assets
of $41.38 million total liabilities of $17.06 million and
stockholders' equity of roughly $24.32 million.

A full-text copy of the company's quarterly report is available
for free at http://ResearchArchives.com/t/s?340f

                    About Meade Instruments

Based in Irvine, California, Meade Instruments Corp. (Nasdaq GM:
MEAD) -- http://www.meade.com/-- is a designer and manufacturer   
of optical products including telescopes and accessories for the
beginning to serious amateur astronomer.  The company distributes
its products worldwide through a network of specialty retailers,
mass merchandisers and domestic and foreign distributors.

                       Going Concern Doubt

Moss Adams LLP, in Irvine, California, expressed substantial doubt
about Meade Instruments Corp.'s ability to continue as a going
concern after auditing the company's consolidated financial
statements for the year ended Feb. 29, 2008.  The auditing firm
pointed to the company's declining revenues, recurring losses from
operations and accumulated deficit.


MEDICAL SAVINGS: Best Cuts Fin'l Strength Rtng to 'C++(Marginal)'
-----------------------------------------------------------------
A.M. Best Co. has downgraded the financial strength rating to
C++(Marginal) from B-(Fair) and issuer credit rating to "b" from
"bb-" of Medical Savings Insurance Company (Indianapolis, Ind.).  
The outlook for both ratings is negative.

These rating actions reflect Medical Savings' continued decline in
capital and surplus due to an operating loss incurred through June
2008.  Additionally, the company has significant investment
exposure to a few troubled fixed income issuers in the financial
services sector.  Although Medical Savings received a $500,000
capital contribution in third quarter 2008 from its parent,
Medical Savings Investment, Inc., to alleviate some of the impact
of the operating loss, the company's risk-adjusted capital
position remains currently very low.

In the last three years, Medical Savings' operating results have
been negatively impacted by higher than expected loss ratios in
its primary individual major medical line of business and its high
legal expenses.  Currently, management is taking corrective
actions to stabilize the company.

Should Medical Savings' operating results or capitalization level
deteriorate further, another downgrade of the ratings would be
likely.


MICROHEAT INC: GM Claiming Up to $25MM in Damages for Recall
------------------------------------------------------------
Microheat Inc., the company which supplies General Motors the
HotShot windshield cleaning system technology utilized to clean a
car's front glass of debris, ice and snow, has filed for Chapter
11 bankruptcy, Motor Trend Magazine (Los Angeles)reported last
week.  Motor Trend Magazine, an automobile magazine, is published
by Source Interlink Media.

According to the report, an overheating problem in the printed
faulty circuit board forced GM to recall nearly 1 million vehicles
installed with the HotShot system due to the possibility of fires.  
GM reportedly is seeking between $20 million and $25 million in
damages for the cost of the recall.

GM has installed at its own expense a new wiring harness with an
inline fuse on the vehicles it has recalled, the report said.

Based in Farmington Hills, Michigan, Micro Heat Inc. is a Tier-1
supplier to the automotive industry, and the inventor of the
HotShot windshield cleaning system technology.  The company filed
for Chapter 11 relief on Oct. 13, 2008 (Bankr. E.D. Mich. Case No.
08-65060).  Stuart A. Gold, Esq., at Gold, Lange & Majoros PC,
represents the Debtor as counsel.  When the Debtor filed for
protection from its creditors, it listed assets and liabilities of
between $10 million and $50 million each.  In Court filings, the
company listed M-Heat Investors LLC as its biggest creditor with
claims of $42.7 million, of which $10.1 million is secured.


MINNESOTA SURETY: Best Affirms 'bb' Issuer Credit Rating
--------------------------------------------------------
A.M. Best Co. has affirmed the financial strength rating of
B(Fair) and issuer credit rating of "bb" of Minnesota Surety and
Trust Company (Austin, MN).  The outlook for both ratings is
negative.  Concurrently, A.M. Best has withdrawn the ratings at
the company's request and assigned a category NR-4 to the FSR and
an "nr" to the ICR.

The ratings reflect MST's considerable decline in surplus due to a
sizable surety loss in late 2007, the lack of reinsurance and
additional losses from an insolvent bail bond agent.  Offsetting
these negatives is the additional capital provided during 2008,
wherein the owners and other business partners contributed
$594,500 to MST.


MODTECH HOLDINGS: Weak Market Blamed for Chapter 11 Filing
----------------------------------------------------------
Modtech Holdings, Inc., sought protection from its creditors under
Chapter 11 of the United States Bankruptcy Code in the United
States Bankruptcy Court for the Central District of California.

Bloombger News reports that the company blamed sales slowdown from
weak California market coupled with week construction environment.

The company listed $40,900,000 in assets and $35,000,000 in
debts in its filing.  The company owes approximately $4508,873 to
its unsecured creditors including Monteleone & McCrory LLP owing
$777,503; Premium Financing Specialist of CA, Inc., owing
$662,381; and Acoustical Material Services owing $595,317.

The company's shares traded over the counter were at 5 cents on
Oct. 20, 2008, down 97% a year ago, Bloomberg notes.

On Aug. 14, 2008, the company reported $13,400,000 net sale for
the three months ended June 30, 2008, compared to $26,100,000
net sale for the same period a year ago.  The decrease in sales
in 2008 was due to project delays and a continued general slowdown
in all markets.

A full-text copy of the company's regulatory filing is available
for free at http://ResearchArchives.com/t/s?3411

Headquartered in Perris, California, Modtech Holdings Inc. --
http://www.modtech.com/-- makes and sells modular and relocatable
classrooms, commercial and light industrial modular buildings.


MODTECH HOLDINGS: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Modtech Holdings, Inc.
        2830 Barrett Ave.
        Perris, CA 92571

Bankruptcy Case No.: 08-24324

Type of Business: The Debtor makes and sells modular and
                  relocatable classrooms, commercial and light
                  industrial modular buildings.

                  See: http://www.modtech.com/

Chapter 11 Petition Date: October 20, 2008

Court: Central District Of California (Riverside)

Judge: Thomas B. Donovan

Debtor's Counsel: Marc J. Winthrop, Esq.
                  pj@winthropcouchot.com
                  Winthrop Couchot Professional Corporation
                  660 Newport Center Dr., Suite 400
                  Newport Beach, CA 92660
                  Tel: (949) 720-4100

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The Debtor's Largest Unsecured Creditors:

   Entity                      Nature of Claim   Claim Amount
   ------                      ---------------   ------------
Monteleone & McCrory, LLP                        $777,503
725 S. Figueroa St., Ste. 3200
Los Angeles, CA 90017-5446

Premium Financing Specialists                    $662,381
of CA, Inc.
601 S. Gleen Oaks Blvd.
Burbank, CA 91502

Acoustical Material Services                     $595,317
10200 S. Pioneer Blvd.
Santa Fe Springs, CA 90670

Geary Pacific Supply                             $364,070

Squar, Milner, Miranda &                         $288,258
Williamson, LLP

Douglas Steel Supply                             $228,792

St. Paul Travelers                               $219,670

Reliable Wholesale Lumber                        $201,965

Nu-Way Fire Protection                           $142,898

ICI Dulux Paint Centers                          $109,196

Acme Metals & Steel Supply                       $107,415


Consolidated Electrical Dist.                    $99,608

AON Risk Services, Inc.                          $95,724

Hadden & Zepfel, LLP                             $94,721

Arizona Department of Revenue                    $94,000
-TPT

Cooley Godward                                   $89,616

Stanley-Bostitch                                 $87,225

Guardsmark, LLC                                  $87,166

ABC Supply Co., Inc.                             $82,874

Nitro Associates                                 $80,474


MTJ WILLIAMS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: MTJ Williams
        3237 Winchester Road
        Memphis, TN 38118

Bankruptcy Case No.: 08-30768

Type of Business: The Debtor operates a grocery store.

Chapter 11 Petition Date: October 14, 2008

Court: Western District of Tennessee (Memphis)

Judge: Jennie D. Latta

Debtor's Counsel: John L. Ryder, Esq.
                  jryder@harrisshelton.com
                  One Commerce Square, Suite 2700
                  Memphis, TN 38103-2555
                  Tel: (901) 525-1455

Total Assets: $758,000

Total Debts: $1,228,107

A list of the Debtor's largest unsecured creditors is available
for free at:

            http://bankrupt.com/misc/tnwb08-30768.pdf


MYERS MILL: U.S. Trustee Sets 341(a) Meeting for October 29
-----------------------------------------------------------
The United States Trustee for the Eastern District of North
Carolina will convene a meeting of creditors of Myers Mill LLC at
10:00 a.m., on Oct. 29, 2008, at the Wilson 341 Meeting Room in
North Carolina.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Headquartered in Charlotte, North Carolina, real estate company
Myers Mill LLC filed for Chapter 11 protection on Sept. 22, 2008
(Banrk. E.D. N.C. Case No. 08-06508).  Trawick H Stubbs, Jr.,
Esq., at Stubbs & Perdue, P.A., in New Bern, North Carolina,
represents the Debtor as counsel.  The Debtor's schedules listed
total assets of $13,986,640 and total liabilities of $10,817,772.


NAMWEST-PALMS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Namwest-Palms, LLC
        20610 N. Cave Creek Rd., Suite 101
        Phoenix, AZ 85024

Bankruptcy Case No.: 08-14564

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                                     Case No.
        ------                                     --------
Namwest Construction & Development, LLC            08-14033
Namwest, LLC                                       08-13935
Namwest-101 Building, LLC                          08-13954
Namwest-7th Street & Deer Valley, LLC              08-14031
Namwest-Brownstone, LLC                            08-14022
Namwest-Dobbins, LLC                               08-14024
Namwest-Glenrosa & 35th Avenue, LLC                08-13939
Namwest-Sun City Manor, LLC                        08-14025
Namwest-Town Lakes II, LLC                         08-14027

Type of Business: The Debtors operate a homebuilding company.

Chapter 11 Petition Date: October 20, 2008

Court: District of Arizona (Phoenix)

Judge: Redfield T. Baum Sr.

Debtor's Counsel: Carolyn J. Johnsen, Esq.
                  cjjohnsen@jsslaw.com
                  Jennings, Strouss & Salmon, P.L.C.
                  The Collier Center, 11th Floor
                  201 East Washington Street
                  PHOENIX, AZ 85004-2385
                  Tel: (602) 262-5911
                  Fax: (602) 495-2696

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

A list of the Debtor's largest unsecured creditors is available
for free at:

            http://bankrupt.com/misc/azb08-14564.pdf


NORD RESOURCES: Wants Shares Deregistered After Warrants Expire
---------------------------------------------------------------
Nord Resources Corporation filed with the Securities and Exchange
Commission a post-effective amendment no. 2 to its registration
statement, File No. 333-146813, pertaining to 55,589,705 shares
of the company's common stock, par value $0.01 per share.

The company is requesting the deregistration of 150,000 shares
of common stock, par value $0.01 per share, that were issuable
upon the exercise of 150,000 common stock purchase warrants.  

The warrants were issued to Auramet Trading, LLC and Nedbank
Limited in connection with the extension of the maturity date of
the secured bridge loan made by Nedbank Limited pursuant to a
Modification Agreement dated Sept. 30, 2006.  Each warrant
entitled the holder to purchase one share of its common stock
until 5:00 p.m. (Central time) on Sept. 30, 2008, at an exercise
price of $0.83 per share.  As a result of the expiration of these
warrants, the underlying shares of common stock are no longer
available.

The company is also requesting the deregistration of the 300,000
shares of common stock, par value $0.01 per share, that were
issuable upon the exercise of 300,000 common stock purchase
warrants.  

The warrants had been issued to Auramet Trading, LLC and Nedbank
Limited in connection with the extension of the maturity date of
the secured bridge loan made by Nedbank Limited pursuant to a
Modification Agreement dated Feb. 23, 2007.  Each warrant
entitled the holder to purchase one share of its common stock
until 5:00 p.m. (Central time) on Sept. 30, 2008, at an exercise
price of $0.66 per share. As a result of the expiration of these
warrants, the underlying shares of common stock are no longer
available.

A full-text copy of the amendment to the company's Registration
Statement on Form SB-2 is available for free at:

                http://ResearchArchives.com/t/s?3412

                      About Nord Resources

Based in Tucson, Arizona, Nord Resources Corporation (Pink Sheets:
NRDS) -- http://www.nordresources.com/-- is an emerging copper
producer, which controls a 100% interest in the Johnson Camp SX-EW
copper project in Arizona.  Nord's near term objective is to
resume mining and leaching operations at the Johnson Camp mine,
which has been on care and maintenance status since August 2003.
Nord has decided to proceed with its mine plan bases on an updated
feasibility study that was completed in October 2005, subject to
raising sufficient financing.

                       Going Concern Doubt

On March 26, 2008, Mayer Hoffman McCann PC, in Denver, Colorado,
expressed substantial doubt about Nord Resources Corporation's
ability to continue as a going concern after auditing the
company's consolidated financial statements as of the years ended
Dec. 31, 2007, and 2006.  The auditing firm company reported that
the company incurred a net loss of $2,500,000 and $6,200,000
during the years ended Dec. 31, 2007, and 2006.  

The company's continuation as a going concern is dependent upon
its ability to generate sufficient cash flow to meet the company's
obligations on a timely basis, to produce copper at a level where
it can become profitable, to pay off existing debt and provide
sufficient funds for general corporate purposes.

                 Liquidity and Financial Resources

Nord Resources Corporation's balance sheet at March 31, 2008,
showed total assets of $29,200,00 and total liabilities of
$32,300,000, resulting in a shareholders' deficit of roughly
$3,100,000.

The company's cash flows from operating activities during the
three months ended March 31, 2008, and 2007 were negative $532,132
and negative $114,079.


NRG ENERGY: $6.2MM Purchase Offer Neg. for Exelon, Moody's Says
---------------------------------------------------------------
Moody's Investors Service views Exelon Corporation's (Exelon: Baa1
senior unsecured) unsolicited offer to purchase NRG Energy, Inc.
(NRG: Ba3 Corporate Family Rating) in a $6.2 billion stock-for-
stock transaction as being potentially negative for the credit
quality of Exelon and Exelon Generation Company (ExGen: A3 senior
unsecured).  If the transaction proceeds, the consolidated credit
metrics of Exelon and ExGen would weaken from historical levels
and the business risk for the company, including environmental
risks, would increase.  Conversely, Moody's views the potential
combination as having positive benefits for NRG creditors given
Exelon's stronger balance sheet and the value for a merchant
operation from being a part of a more diverse and larger
organization.

Through the 12 months ended June 30, 2008, Moody's calculates that
Exelon and ExGen generated about $5.0 billion and $3.0 billion of
operating cash flow, respectively, while NRG generated more than
$1.5 billion over the same period.  Assuming that the merger is
completed and all $8.6 billion of NRG's debt and preferred is
refinanced or assumed at the time of closing, Moody's calculates
that the proforma combined cash flow to adjusted debt would be
approximately 28% at the Exelon level and about 37% at the ExGen
level, and cash flow coverage of interest expense would been
slightly more than 5.0x at Exelon and nearly 6.0x at ExGen.  These
financial ratios are lower than the historical level.

The prospects for Exelon's bid are uncertain.  Most importantly,
NRG has not agreed to the transaction.  In addition, the
transaction would entail substantial execution risk on the
regulatory and financing front, particularly given the number of
state approvals needed and the likely requirement to sell about
3,000 MW of assets.

The transaction would result in a change of control event for NRG
bondholders and bank creditors requiring Exelon to raise
approximately $8.0 billion of bank and bond debt to address this
potential issue.  Exelon has indicated that they are in
discussions with underwriters to address this issue.  However, S&P
believe that in the current credit environment the financing terms
are likely to be more expensive and more stringent than Exelon's
current financing arrangements, which would further weaken
consolidated credit metrics.  However, Moody's also recognizes the
increase in scale, geographic diversity and fuel diversity that
will follow should this transaction move forward, all of which are
important qualitative factors in assessing credit quality for
merchant wholesale generators.

In light of the unsolicited nature of Exelon's offer, the response
by NRG, and the significant contingencies and uncertainties
underlying the offer, Moody's does not expect to not make a
determination on the possible rating impact for either company
until circumstances are better clarified.

Headquartered in Chicago, Exelon is the holding company for non-
regulated subsidiary, ExGen and for regulated subsidiaries,
Commonwealth Edison Company (ComEd; Baa3 senior unsecured, stable
outlook) and PECO Energy Company (PECO; A3 Issuer Rating, stable
outlook).  At December 31, 2007, Exelon had total assets of
$45.4 billion.

Headquartered in Princeton, NRG owns and operates power generating
facilities, primarily in Texas and the northeast, south central
and western regions of the United States.  NRG also owns
generating facilities in Australia and Germany.


NRG ENERGY: Pending Exelon Deal Cues Fitch to Keep Ratings
----------------------------------------------------------
While an acquisition of NRG Energy Inc. by the higher-rated Exelon
Corp. would be a positive for NRG's credit ratings, alternate
scenarios including other corporate transactions could have
neutral or deleterious credit implications, according to Fitch
Ratings, which is keeping NRG on Rating Watch Evolving to reflect
both the unresolved nature of the offer and, the possible outcomes
should another suitor emerge or NRG proceed with an acquisition of
its own or some other corporate transaction.

Separately, Fitch has placed Exelon Corp. and Exelon Generation on
Rating Watch Negative.

Fitch originally placed NRG on Watch Evolving following its own
unsolicited acquisition offer for competitive generator Calpine
Corp in May 2008.  Evolving signifies that Fitch may upgrade,
downgrade or affirm NRG's ratings, pending the outcome of a
definitive transaction with Exelon or other possible corporate
combinations.

These ratings remain on Rating Watch Evolving by Fitch:

  -- Issuer default rating at 'B';
  -- Senior secured term loan B at 'BB/RR1';
  -- Senior secured revolving credit facility at 'BB/RR1';
  -- Senior notes at 'B+/RR3';
  -- Convertible preferred stock at 'CCC+/RR6'.

Approximately $8.1 billion of debt is affected.

Fitch is concerned with the refinancing risk associated with the
change of control provisions on NRG's debt, particularly given
current market conditions.  Fitch expects to update the Rating
Watch status upon the signing of a definitive transaction with
Exelon or upon evaluation of the terms and conditions of another
transaction should another offer emerge.


PATIENT SAFETY: Mary Lay Replaces William Horne as Finance Chief
----------------------------------------------------------------
Patient Safety Technologies Inc. disclosed in a Securities and
Exchange Commission filing that on Oct. 10, 2008, William Horne,
principal accounting officer, tendered his resignation as Chief
Financial Officer and Secretary.

Mr. Horne also tendered his resignation as an officer and director
of the Company's subsidiary to which he served in such capacities,
also effective October 13, 2008.  Mr. Horne's resignation arose
from his desire to spend more time with his family and to pursue
other career opportunities in the Washington area.

To fill the vacancy created by Mr. Horne's departure from the
company, Mary Lay was appointed Interim Chief Financial Officer,
effective Oct. 13, 2008.

                        About Patient Safety

Headquartered in Los Angeles, Patient Safety Technologies Inc.
(OTC BB: PSTX.OB) -- http://www.patientsafetytechnologies.com/--
through its wholly owned subsidiary, SurgiCount Medical Inc., is a
developer and manufacturer of patient safety products including
the Safety-Sponge(TM) System.  The system helps in reducing the
number of retained sponges and towels in patients during surgical
procedures ans allows for faster and more accurate counting of
surgical sponges.

                        Going Concern Doubt

Squar, Milner, Peterson, Miranda & Williamson, LLP, in San Diego,
expressed substantial doubt about Patient Safety Technologies
Inc.'s ability to continue as a going concern after auditing the
company's consolidated financial statements for the year ended
Dec. 31, 2007.  The auditing firm reported that the company has
reported recurring losses from operations through Dec. 31, 2007,
and has a significant accumulated deficit and a significant
working capital deficit at Dec. 31, 2007.

At June 30, 2008, the company has an accumulated deficit of
approximately $40,573,160 and a working capital deficit of
$2,903,102.


PCG SUMMIT-LAKELINE: HomeFed Must Stave Off Project Foreclosure
---------------------------------------------------------------
Jean Kwon at Austin (Texas) Business Journal reports that HomeFed
Corp. must come up with a reorganization plan for PCG Summit-
Lakeline Station's $400 million, mixed-use project or face
foreclosure on the property.

According to Austin Business relates that the project is
struggling to stave off foreclosure.  It could re-emerge as a
city-partnered project if a new developer can pull it out of
bankruptcy, the report says.

Austin Business relates that HomeFed signed on as a new investor
after PCG Summit-Lakeline -- the limited partnership behind the
project -- filed for Chapter 11 protection in August.  According
to the report, William Savage, the landowner, is trying to
foreclose on 141 acres of the 327-acre project.  The report states
that Pacific Summit-Lakeline has paid enough to own about 186
acres.

The project, says Austin Business, would be near the intersection
of U.S. Highway 183 and RR 620.  About 2,200 residential units --
ranging from urban town homes to single-family homes, along with
denser commercial zones close to the rail stop -- will be built.  
HomeFed's President Paul Borden said that the plan may change
slightly as the reorganization plan is worked out, according to
the report.

HomeFed will ask the city of Austin to enter into a public
financing partnership that would pay for tens of millions of
dollars of infrastructure costs, Austin Business relates, citing
Mr. Borden.  Austin Business states that in exchange, city
officials have supervision over the project and control over
aspects like zoning.

                          About PCG Summit

Costa Mesa, California-based PCG Summit-Lakeline Station, L.P. is
a single asset real estate entity.  It filed its chapter 11
petition on Aug. 4, 2008 (Bankr. C.D. Calif. Case No. 08-14588).  
Judge Theodor Albert presides over the case.  Eric D. Goldberg,
Esq., represents the Debtor in its restructuring efforts.  The
Debtor estimated both its assets and debts to be between
$10,000,000 and $50,000,000.  The Debtor's largest unsecured
creditor is Diversified Pacific Opportunity Fund, which is owed
$10,600,000.


PETTERS AVIATION: Schedules Filing Deadline Extended to Nov. 10
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Minnesota extended
the deadline for the filing of Petters Aviation, LLC's schedules
of assets and liabilities to Nov. 10, 2008.

The Debtor asked the Court to extend the deadline for the filing
of its schedules and statements to Nov. 20, 2008.  The schedules
and statements were initially due on Oct. 21, 2008.

The Debtor told the Court that it has been unable to complete the
preparation and signing of the schedules and statements because:

     -- the financial affairs and the books and records of the
        Debtor are complex, and the information needed to
        properly complete the lists, schedules and statements
        required by Rule 1007 of the Federal Rules of
        Bankruptcy Procedure is voluminous; and

     -- upon the commencement of the Debtor's case, to
        continue operations and avoid irreparable harm to
        Debtor's estate, the Debtor was required, among other
        things, to:

        (1) obtain authority to authorize payment of pre-
            petition claims of essential creditors and to
            maintain existing bank accounts, and

        (2) authorize Debtor-in-Possession to pay wages,
            salaries, medical benefits, deductions, insurance
            benefits and reimburse employee expenses and to
            maintain existing payroll accounts.  

The Debtor's accounting personnel are working diligently to
compile and analyze the information necessary to prepare the
schedules, statements, and lists.  The Debtor said that due to the
volume of information, the process will take many of the Debtor's
employees several weeks to complete.

                      About Petters Aviation

Petters Aviation, LLC, and its debtor-affiliates MN Airlines LLC,
dba, Sun Country Airlines Inc. and MN Airline Holdings Inc. filed
separate petitions for Chapter 11 relief on Oct. 6, 2008 (Bankr.
D. Minn. Lead Case No. 08-45136).  Brian F. Leonard, Esq., Matthew
R. Burton, Esq., at Leonard O'Brien et al., represented the
Debtors as counsel.  When Petters Aviation LLC filed for
protection from its creditors, it listed assets of $50 million and
$100 million, and the same range of debts.


POLLARD & COMPANY: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Pollard & Company Inc.
        PO Box 66
        Dillsburg, PA 17019

Bankruptcy Case No.: 08-03833

Chapter 11 Petition Date:  October 17, 2008

Court: Middle District of Pennsylvania (Harrisburg)

Judge: Mary D France

Debtor's Counsel: Joseph B. Sobel, Esq.
                  DebtEnds@aol.com
                  P.O. Box 828
                  Harrisburg, PA 17108-0828
                  Tel: (717) 234-2200
                  Fax: (717) 234-2211

Estimated Assets: $1 million to $10 million

Estimated Debts:  $1 million to $10 million

The Debtor did not file a list of 20 largest unsecured creditors.


POMARE LTD: Court Sets Schedules Filing Deadline for Oct. 24
------------------------------------------------------------
The Hon. Robert J. Faris of the U.S. Bankruptcy Court for District
of Hawaii scheduled, at the behest of Pomare, Ltd., the deadline
for the filing of the Debtor's schedules and schedules of assets
and liabilities, and statement of financial affairs to Oct. 24,
2008.

The Debtor tells the Court that its Chapter 11 case is larte, with
numerous leases and contracts.  The Debtor and its counsel have
been busy with significant operating and legal issues during the
first two weeks of the case.  The Debtor filed for Chapter 11
protection on Oct. 2, 2008.

Based in Honolulu, Hawaii, Pomare Ltd., dba Hilo Hattie, makes and
sells men's clothing.  The company filed for Chapter 11 relief on
Oct. 2, 2008 (Bankr. D. Hawaii Case No. 08-01448).  Chuck C. Choi,
Esq. and James A. Wagner, Esq., at Wagner Choi & Evers, represent
the Debtor as counsel.  When the Debtor filed for protection from
its creditors, it listed assets of
$10 million to $50 million, and debts of $10 million to
$50 million.


PROPEX INC: Has Until October 29 to File Reorganizational Plan
--------------------------------------------------------------
Judge John C. Cook of the United States Bankruptcy Court for the
Eastern District of Tennessee extended the period by which
Propex, Inc., and its debtor-affiliates have (i) the exclusive
right to file a plan of reorganization through Oct. 29, 2008,
and (ii) the exclusive right to solicit acceptances of that plan
through Dec. 29, 2008.

The Debtors was previously given by the Court until Oct. 20,
2008, to file a Chapter 11 plan, and until Dec. 19, 2008, to
solicit acceptances of that plan.
        
The Debtors relate that they have engaged in extensive
negotiations with their secured lenders and are finalizing the
terms of consensual treatment for the secured term and revolver
debt in a plan of reorganization.  The Debtors note that the
nine-day exclusive period extension order will allow them
additional time to continue those negotiations.

The Debtors' DIP Lenders have agreed to modify the DIP financing
documents to allow the Debtors to propose a Chapter 11 plan
through October 29, according to Mark. W. Wege, Esq., at King &
Spalding, LLP, in Houston, Texas.  To note, the Court-approved
DIP Credit Agreement was entered into by the Debtors with BNP
Paribas, as administrative agent, and certain other lenders in
2006.  The Debtors relate that they have complied with the
submission of a comprehensive plan to the DIP lenders and the
Official Committee of Unsecured Creditors under the DIP Credit
Agreement.

Before the Court entered the latest Exclusivity Order, the
Creditors Committee filed an objection to the Debtors' extension
request.  On the Committee's behalf, Ira S. Dizengoff, Esq., at
Akin Gump Strauss Hauer & Feld LLP, in New York, asserted that
the third exclusivity request is the least substantive
exclusivity motion filed by the Debtors.  "[T]he Motion does not
explain why no plan of reorganization has been filed during the
nine months of exclusivity the Debtors already have had or why an
extension of the Exclusive Periods is in the best interests of
the estates and their creditors," he contended.

The Committee also noted that the extension request contradicts
prior statements made by the Debtors at the August 20th hearing
wherein they said they were prepared in the next 60 days to file
a plan.  The Committee added that the Debtors refused to respond
to its repeated requests to be included in plan negotiations and
discussions.

The Debtors, Mr. Dizengoff argued, are not permitted to use the
exclusivity as a tactical device to pressure parties to consent
to a plan they consider unsatisfactory.  He pointed out that if
granted, the exclusivity request will effectively force other
parties-in-interest to continue to sit on the sidelines while the
Debtors secretly formulate a plan of reorganization with their
secured lenders that provides little if any recovery to unsecured
creditors.

Thus, the Committee urged the Court to deny the exclusivity
request to prevent the Debtors from continuing to improperly use
their exclusivity to cram down unsecured creditors, and thereby
allow them and their creditor constituencies to negotiate from
equal positions.

Nevertheless, Judge Cook approved the Debtors' exclusivity
request on October 17.  The Court retains all jurisdiction
related to the Exclusivity Motion.

                         About Propex Inc.

Headquartered in Chattanooga, Tennessee, Propex Inc. --
http://www.propexinc.com/-- produces geosynthetic, concrete,
furnishing, and industrial fabrics and fiber.  It also produces
primary and secondary carpet backing.  Propex operates in North
America, Europe, and Brazil.

The company and its debtor-affiliates filed for Chapter 11
protection on Jan. 18, 2008 (Bankr. E.D. Tenn. Case No.
08-10249).  The Debtors have selected Edward L. Ripley, Esq.,
Henry J. Kaim, Esq., and Mark W. Wege, Esq. at King & Spalding, in
Houston, Texas, to represent them.  The Official Committee of
Unsecured Creditors have tapped Ira S. Dizengoff, Esq., at Akin
Gump Strauss Hauer & Feld, LLP, in New York, to be its counsel.

The Court extended the exclusive plan filing period of the Debtors
through Oct. 20, 2008, and their exclusive solicitation period
through Dec. 19, 2008.

As of June 29, 2008, the Debtors' balance sheet showed total
assets of $562,700,000, and total debts of $551,700,000.

(Propex Bankruptcy News, Issue No. 18; Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000)


QUIGLEY CO: Pfizer Objects to U.S. Trustee's Proposed Probe
-----------------------------------------------------------
Tiffany Kary of Bloomberg News reports that Pfizer, Inc., asked
the U.S. Bankruptcy Court for the Southern District of New York on
Oct. 17, 2008, to deny the request of the U.S. Trustee for the
appointment of an examiner to investigate Pfizer's relationship
with Quigley Co., Inc., because the Trustee is trying to obstruct
the Debtor's reorganization.

"Nor do the U.S. Trustee's allegations even assert any fraud,
dishonesty, incompetence, or gross mismanagement to establish
requisite cause for the appointment of an examiner," the Committee
said according to the report.

The Committee, according to the report, adds that the Debtor may
not have liquidated, non-insider unsecured debt of more
$5 million, as required for the appointment of an examiner.  The
$33.3 million of unsecured debt owed to Pfizer doesn't count,
because the drugmaker is an insider, and asbestos personal-injury
claims of about $4.43 billion are potential, unliquidated claims,
the committee, according to the report, said.

                      About Quigley Company

Quigley Company, Inc., a division of Pfizer Inc., sold asbestos-
containing insulation products until the early 1970s.  Quigley
filed for protection under chapter 11 on Sept. 3, 2004 (Bankr.
S.D.N.Y. Case No. 04-15739) in order to implement a proposed
global resolution of all pending and future asbestos-related
personal injury liabilities.

Asbestos victims and Pfizer have been negotiating a settlement
deal which calls for Pfizer to pay $430 million to 80% of existing
plaintiffs.  It will also place an additional $535 million into an
asbestos settlement trust that will compensate future plaintiffs
as well as the remaining 20% of current plaintiffs with claims
against Pfizer and Quigley.  The compensation deal is worth
$965 million all up.  Of that $535 million, $405 million is in a
40-year note from Pfizer, while $100 million will come from
insurance policies.

Lawrence V. Gelber, Esq., and Michael L. Cook, Esq., at Schulte
Roth & Zabel LLP, represent the Debtor in its restructuring
efforts.  Elihu Inselbuchm Esq., at Caplin & Drysdale, Chartered,
represents the Official Committee of Unsecured Creditors.  When
the Debtor filed for protection from its creditors, it listed
$155,187,000 in total assets and $141,933,000 in total debts.


REMOTEMDX INC: Nord/LB Discloses 14.8% Equity Stake
---------------------------------------------------
Nord/LB disclosed in a Securities and Exchange Commission filing
that it beneficially owns 22,337,305 shares of RemoteMDx, Inc.'s
common stock, representing 14.8% of the 151,036,749 shares
outstanding as of Aug. 29, 2008.

Headquartered in Sandy, Utah, RemoteMDx Inc. (OTC BB: RMDX.OB) --
http://www.remotemdx.com/-- operates in two business segments.    
The Volu-Sol segment is engaged in the business of manufacturing
and marketing medical diagnostic stains, solutions and related
equipment to hospitals and medical testing labs.  The electronic
monitoring segment is engaged in the business of developing,
distributing and monitoring offender tracking devices.  

As reported in the Troubled Company Reporter on Sept. 5, 2008,
RemoteMDX Inc.'s consolidated balance sheet at June 30, 2008,
showed $14,359,033 in total assets, $11,353,769 in total
liabilities, and $3,759,785 in minority interest, resulting in a
$754,521 stockholders' deficit.

At June 30, 2008, the company's consolidated balance sheet also
showed strained liquidity with $6,170,519 in total current assets
available to pay $10,772,523 in total current liabilities.


REYNOLDS STORAGE: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Reynolds Storage Limited Liability Partnership
        aka Reynolds Storage, LLP
        217 Quarry Street
        Dodgeville, WI 53533

Bankruptcy Case No.: 08-15413

Chapter 11 Petition Date: October 15, 2008

Court: Western District of Wisconsin (Madison)

Judge: Robert D. Martin

Debtor's Counsel: Kristin J. Sederholm, Esq.
                  ksederho@ks-lawfirm.com
                  15 N. Pinckney Street
                  P.O. Box 828
                  Madison, WI 53701-0828
                  Tel: (608) 258-8555

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

A list of the Debtor's largest unsecured creditors is available
for free at:

            http://bankrupt.com/misc/wiwb3-08-15413-rdm.pdf


RMK STRATEGIC: Intends to Cure Closing Stock Price Non-Compliance
-----------------------------------------------------------------
RMK Strategic Income Fund, Inc. received a letter from the New
York Stock Exchange advising it that the fund is not in
compliance with the NYSE's continued listing standard related to
maintaining a consecutive thirty day average closing stock price
of over $1.00 per share.

On Oct. 16, 2008, the fund's thirty day average closing stock
price was $0.92.  Under NYSE rules, the fund has six months from
the date of the NYSE notice to cure the average price deficiency,
during which time the Fund's shares of common stock will continue
to be listed and traded on the NYSE.  If these conditions are not
met during the six-month cure period, NYSE Regulation indicated
that it will commence suspension and delisting procedures.  On
Oct. 17, 2008, the fund notified the NYSE within the required
10 business day period after the receipt of the notification
that the Fund intends to cure the price deficiency.

Based in Memphis, Tennesee, RMK Strategic Income Fund, Inc.
(NYSE:RSF) -- http://www.morgankeegan.com/-- is managed by  
Hyperion Brookfield Asset Management, Inc, a registered investment
advisor located in New York City.  The firm was founded in 1989 to
provide relative value driven fixed income investment strategies,
as core fixed income, high yield, and specialized MBS.  


ROUGE INDUSTRIES: Court Extends Plan Filing Period to November 19
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has
extended the time within which only Rouge Industries, Inc. and its
debtor-affiliates may file a plan of reorganization under Sec.
1121(b) of the Bankruptcy Code through and including Nov. 19,
2008, and the time within which only the Debtors may solicit
acceptances of said plan through and including Dec. 16, 2008.

As reported in the Troubled Company Reporter on Oct. 14, 2008, the
Court has granted Debtors prior extensions, the most recent of
which extended the exclusive periods to file a plan and to solicit
acceptances of the plan, to Oct. 17, 2008, and Nov. 16, 2008,
respectively.

The Debtors will use the additional time to (1) obtain the Court's
approval of the Settlement Agreement between the Pension Benefit
Guaranty Corp. (PBGC) and the Debtors, (2) attempt to resolve the
objection of the Union and the United Automobile Aerospace and
Agricultural Implement Workers of America and its Local 600
(collectively , the UAW), and (3) finalize a plan.  

                       About Rouge Industries

Based in Dearborn, Michigan, Rouge Industries, Inc., is an
integrated producer of flat-rolled steel.  Rouge Industries,
together with Rouge Steel Company, QS Steel Inc., and Eveleth
Taconite Company, filed for chapter 11 protection on Oct. 23, 2003
(Bankr. D. Del. Case No. 03-13272 through 03-13275).  

Adam G. Landis, Esq., Kerri K. Mumford, Esq., and Rebecca L.
Butcher, Esq., at Landis, Rath & Cobb, LLP, Alicia Beth Davis,
Esq., Daniel B. Butz, Esq., Donna L. Culver, Esq., Donna L.
Harris, Esq., Eric D. Schwartz, Esq., Gregory Thomas Donilon,
Esq., Gregory W. Werkheiser, Esq., Robert J. Dehney, Esq., Thomas
F. Driscoll, Esq., and William H. Sudell, Jr., at Morris, Nichols,
Arsht & Tunnell LLP, and Joanna Flynn, Esq., at Akin Gump Strauss
Hauer & Feld LLP, represent the Debtors.  

The U.S. Trustee for Region 3 appointed creditors to serve on an
Official Committee of Unsecured Creditors.  Gaston Plantiff
Loomis, II, Esq., Kurt F. Gwynne, Esq., and Richard Allen Keuler,
Jr., Esq., at Reed Smith LLP, and Thomas Joseph Francella, Jr.,
Esq., at Whiteford Taylor Preston LLC, serve as counsel to the
Official Committee of Unsecured Creditors.  

When the Debtors filed for protection from their creditors, they
listed $558,131,000 in total assets and $558,131,000 in total
debts.


SCHWEIZER & SCHWEIZER: Case Summary & 2 Largest Unsec. Creditors
----------------------------------------------------------------
Debtor: Schweizer & Schweizer Limited Partnership
        4 Laguna Street, Suite 201
        Fort Walton Beach, FL 32548

Bankruptcy Case No.: 08-31622

Chapter 11 Petition Date: October 20, 2008

Court: Northern District of Florida (Pensacola)

Debtor's Counsel: Charles S. Liberis, Esq.
                  Liberis & Associates, P.A.
                  40 S. Palafox Place, Suite 500
                  Pensacola, FL 32502
                  Tel: (850) 438-9647

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

A list of the Debtor's largest unsecured creditors is available
for free at:

            http://bankrupt.com/misc/flnb08-31622.pdf


SHOE PAVILION: Closing All Stores After 29 Years in Business
------------------------------------------------------------
Shoe Pavilion Inc., a Sherman Oaks, Calif.-based company once
known as the largest independent off-price footwear retailer on
the West Coast, has commenced a going-out-of-business sale in all
64 of their locations.

Shoe Pavilion offers a broad selection of women's and men's
designer label and name brand Footwear such as Esprit, Puma,
Clarks, Dexter, Skechers, Dr. Marten and Timberland, typically at
30% to 70% below regular department store prices for the same
shoes. The Company has 64 of its own stores in California,
Washington, Oregon and New Mexico.

The going-out-of-business sale will be conducted by a joint
venture group consisting of Great American Group, LLC, SB Capital
Group, LLC, Tiger Capital Group, LLC, and Hudson Capital Partners,
LLC. The sale is expected to last 10-12 weeks with some stores
closing sooner.

Danny Kane, Managing Member of Tiger Capital Group commented "It
is always tough to close down stores, but consumers will benefit
from the extreme discounts on every item in the stores until all
the merchandise is sold."

Andy Gumaer, CEO of Great American Group added "With the holidays
fast approaching, and consumers tight with their finances, this
will be a great opportunity for them to get tremendous value for
their money."

Great American Group, SB Capital, Tiger Capital, and Hudson
Capital Partners, all provide services focused on turning excess
inventory into immediate cash through strategic retail store-
closings.

For more information, contact Sandy Feldman at 1-800-85-Great or
visit http://www.greatamerican.com

Headquartered in Sherman Oaks, California, Shoe Pavilion, Inc.
(NasdaqGM: SHOE) -- http://www.shoepavilion.com/-- sells branded
footwear and accessories.  The company operates 115 stores in
Washington, Oregon, California, Arizona, Nevada, Texas and New
Mexico.

The company and its affiliate, Shoe Pavilion Corporation filed for
Chapter 11 protection on July 15, 2008 (Bankr. C.D. Calif. Case
No. 08-14939).  Ron Bender, Esq., at Levene, Neale, Bender, Rankin
& Brill L.L.P. represents the Debtors in their restructuring
efforts.  When the Debtors filed for protection from its creditors
it listed $60,994,000 in total assets and $27,000,000 in total
debts.


SILVER STATE: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Silver State Hospitality, LLC
        dba Nugget Inn
        fka Nugget Motel
        dba Nugget by Carefree Inn
        4705 Old U.S. Highway 395
        Washoe Valley, NV 89704

Bankruptcy Case No.: 08-51991

Chapter 11 Petition Date: October 20, 2008

Court: District of Nevada (Reno)

Debtor's Counsel: Alan R. Smith, Esq.
                  mail@asmithlaw.com
                  The Law Offices of Alan R. Smith
                  505 Ridge St.
                  Reno, NV 89501
                  Tel: (775) 786-4579

Total Assets: $3,554,300

Total Debts: $4,337,083

A list of the Debtor's largest unsecured creditors is available
for free at:

            http://bankrupt.com/misc/nvb08-51991.pdf


SIRIUS XM: Exchanges 67 Million Shares for $30.5 Million Notes
--------------------------------------------------------------
Sirius XM Radio, Inc., issued an aggregate of 67,038,070 shares of
its common stock, par value $0.001 per share, in exchange for
$30,500,000 principal amount of its 2.5% convertible notes due
2009 beneficially owned by institutional holders.

Sirius XM said it didn't receive any cash proceeds as a result of
the exchange of the company's common stock for the 2.5% notes,
which notes have been retired and cancelled.  The company executed
these transactions to reduce its debt and interest cost, increase
its equity, and improve its balance sheet.  The company may engage
in additional exchanges in respect of its outstanding indebtedness
if and as favorable opportunities arise.

The issuance of the shares of its common stock was made pursuant
to the exemption from the registration requirements of the
Securities Act of 1933, as amended, contained in Section 3(a)(9)
of the Act.

Sarah McBride at The Wall Street Journal relates that analysts
said they believed one or several noteholders agreed to take the
stock in place of the notes, to cover a short position or because
the holders thought the stock would regain value.

Investors, according to WSJ, consider the $1 billion in debt
Sirius XM has coming due in 2009 as a large overhang on the stock
price.

Headquartered in New York, Sirius XM Radio Inc. --
http://www.sirius.com/-- formerly Sirius Satellite Radio Inc., is  
a satellite radio provider.  The company offers over 130 channels
to its subscribers, 69 channels of 100% commercial-free music and
65 channels of sports, news, talk, entertainment, traffic, weather
and data content.  Its primary source of revenue is subscription
fees, with most of its customers subscribing to SIRIUS on either
an annual, semi-annual, quarterly or monthly basis.  The company
derives revenue from activation fees, the sale of advertising on
its non-music channels, and the direct sale of SIRIUS radios and
accessories.  Various brands of SIRIUS radios are Best Buy,
Circuit City, Costco, Crutchfield, Sam's Club, Target and Wal-
Mart.

                          *     *     *

As reported by the Troubled Company Reporter on Aug. 21, 2008,
Standard & Poor's Ratings Services affirmed its corporate ratings
on Sirius XM Radio Inc. (CCC+) and XM Satellite Radio Holdings
Inc., which S&P analyzes on a consolidated basis for purposes of
the corporate credit rating, and removed them from CreditWatch
with developing implications, where S&P placed them on March 4,
2008. The issue-level ratings on debt at New York City-based
Sirius XM Radio Inc. and at Sirius' unrestricted subsidiaries, XM
Satellite Radio Holdings Inc. and XM Satellite Radio Inc., remain
on CreditWatch with developing implications until additional
information becomes available regarding the ultimate
capitalization and the effect of cost-saving plans and growth
initiatives on secured and unsecured recovery at Sirius and XM.  
Upon S&P's examination of additional information, S&P could raise,
affirm, or lower the issue-level ratings. The outlook is
developing.


SJ LAND LLC: Case Summary & Eight Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: SJ Land LLC
        Ramona Expressway & Sanders
        San Jacinto, CA 92582

Bankruptcy Case No.: 08-24398

Chapter 11 Petition Date: October 20, 2008

Court: Central District Of California (Riverside)

Judge: Thomas B. Donovan

Debtor's Counsel: Robert E. Opera, Esq.
                  pj@winthropcouchot.com
                  Winthrop Couchot Professional Corporation
                  660 Newport Center Dr., Suite 400
                  Newport Beach, CA 92660
                  Tel: (949) 720-4100

Estimated Assets: $50 million to $100 million

Estimated Debts: $50 million to $100 million

The Debtor's Largest Unsecured Creditors:

   Entity                      Nature of Claim   Claim Amount
   ------                      ---------------   ------------
John A. Spyksma & Yanit J.     alleged option    $17,882,267
Spyksma                        agreement
and Spyksma Properties
2451 Ramona Expressway
San Jacinto, CA 92582
Tel: (909) 228-2482

Chad Spyksma                   alleged option    $5,817,732
2441 Ramona Expressway         agreement
San Jacinto, CA 92582

Forma                          trade             $46,659
Attn: Corporate Officer
13980 Collections Center Dr.
Chicago, IL 60693

Stantec                        trade             $15,707

Helix Environmental Planning   trade             $13,707
Inc.

Sherritt Development Services  trade             $5,000

Buchanan Ingersoll & Rooney    trade             $4,071
LLP

Rick Gomez                     trade             $1,680


SNAKE RIVER: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Snake River Sporting Club, Inc.
        1 Johnny Counts Road
        Jackson, WY 83001

Bankruptcy Case No.: 08-20636

Type of Business: The Debtor operates a golf course.

Chapter 11 Petition Date: October 10, 2008

Court: District of Wyoming (Cheyenne)

Judge: Peter J. McNiff

Debtor's Counsel: John C. Smiley, Esq.
                  600 17th Street, Suite 1800
                  Denver, CO 80202-5441
                  Tel: (303) 454-0508
                  Fax: (303) 573-1956

Estimated Assets: $1 million to $10 million

Estimated Debts: $50 million to $100 million

The Debtor's Largest Unsecured Creditors:

   Entity                      Nature of Claim   Claim Amount
   ------                      ---------------   ------------
Wheeler Electric               vendor            $234,490
469 W. 16th Street
Idaho Falls, ID 83402

Procurement Consortium         vendor            $212,522
Lantern Hill
1224 Post Road
Fairfield, CT 06824

Kinetic Construction           vendor            $77,237
550 Clary Avenue
Idaho Falls, ID 83401

Deere Credit Inc.              vendor            $74,366

RP Woodworking                 vendor            $65,271

ESD Wastewater Inc.            vendor            $63,906

Falls Cabinet & Millwork Inc.  vendor            $59,999

Poss Architecture and Planning vendor            $54,325

Valley Framing                 vendor            $47,693

Heritage Creations             vendor            $40,646

Owen-PC Construction           vendor            $32,537

Hart Howerton                  vendor            $29,264

Rocky Mountain Hardware        vendor            $29,094

Highland Golf                  vendor            $23,081

Tonks & Moulton                vendor            $20,145

Roberts Concrete               vendor            $17,554

The Elevator Company           vendor            $16,767

Turf Equipment & Irrigation    vendor            $15,449

Rammell Refrigeration Inc.     vendor            $15,207


SOUTHPOINTE EXPANSION: Unsecured Claims Will Be Paid in Full
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Arizona approved
Southpointe Expansion L.P.'s second amended disclosure statement
describing its Second Amended Plan of Reorganization.

                       Funding for the Plan

The general concept of the Plan is that DCW Ventures, LLC will
lend the Debtor $10 million.  The loan will be secured by a first
lien deed of trust upon the Debtor's real property.  The loan
proceeds will be used to pay these allowed claims in full:

     i) administrative expenses;
    ii) Aspen Capital, L.L.C.;
   iii) Tarrant County;
    iv) Mansfield I.S.D.; and
     v) unsecured creditors.

Under the Plan the allowed claim of Carter Stanley, the second
lienholder on the Property, will be assumed by the Reorganized
Debtor and paid from lot sales.  Likewise, the allowed Equity
Interests claims will be assumed by the Reorganized Debtor and
paid from profits once lots are sold.

The Reorganized Debtor will use approximately $2.4 million of the
loan proceeds to make improvements to the Property such as
constructing streets and installing utilities so that lots
can ultimately be sold for a profit.  Lot sales will provide
sufficient cash to pay the debt owed to DCW.  Once DCW is paid,
the proceeds from lot sales will pay the debt owed to Carter
Stanley, the second lienholder on the Property.  Once Mr. Stanley
is paid in full, Equity Interests will be paid their entire
principal investment plus a reasonable interest rate from lot
sales.

Once the loan is funded the Debtor expects that it will take six
to nine months for the Phase I infrastructure to be installed.  
Once the infrastructure is installed the Debtor will
commence selling lots.  The Debtor believes that it will be able
to sell 100 lots in Phase I over a time period of not more than
one year after the time the infrastructure is installed.  The
Debtor believes that Limited Partners will start receiving
payments at some time period approximately twelve to twenty one
months the date that the loan is funded.

                      Treatment of Claims

The only impaired classes of claims under the Plan are the secured
claim of Carter Stanley and equity interest holders.

The Debtor estimates that the administrative expenses associated
with the confirmation of the plan will total $51,000.  The
estimated administrative expenses include:

   i) $40,000 of attorneys' fees, in excess of the retainer given
      to QSC&L;

  ii) $10,000 of management fees to Keith Luker;

iii) approximately $1,000 of quarterly fees which will be owed
      to the U.S. Trustee following the confirmation of the Plan.

The Debtor will pay all fees assessed by the Office of the United
States Trustee until this case is closed by the Court or the
Debtor is otherwise released from such obligations by the
Court.

The Class 1 Secured Claim of Aspen will be satisfied and paid in
full through the proceeds of the DCW loan.  The claim will be paid
in full in the amount of $7.45 million on the effective date.

Class 2 Secured Claim of Carter Stanley will be satisfied by the
assumption of Mr. Stanley's debt and the ratification of Mr.
Stanley's second lien deed of trust on the property.  Mr.
Stanley's secured claim will be paid in full with interest from
the Debtor's sale of lots following the repayment of the DCW loan.

Class 3 Secured Claim of Tarrant County will be satisfied and paid
in full through the proceeds of the DCW loan.  The claim will be
paid in full on the effective date.

Class 4 Secured Claim of Mansfield ISD will be paid in full
through the proceeds of the DCW loan.  The claim will be paid in
full on the effective date.

Class 5 General Unsecured Creditor Claims will be paid in full
plus interest at the rate of 5% per annum on the effective date
through the proceeds of the DCW loan.

Class 6 Equity Interests in the Debtor will assumed by the
Reorganized Debtor.  Additionally, the Reorganized Debtor will be
responsible for paying or satisfying any financial obligations
owed to Equity Interest claimants.  Equity Interests will be paid
their full principal plus a reasonable rate of interest from the
Debtor's sale of lots.  Equity Interests will be paid from the
sale of lots after the first lien of DCW is paid and after the
second lien of Carter Stanley is paid.

A copy of the Plan of Second Amended Disclosure Statement is
available for free at http://researcharchives.com/t/s?341a

                    About Southpointe Expansion

Based in Fort Worth, Texas, Southpointe Expansion LP filed for
Chapter 11 protection on June 2, 2008 (N.D. Tex. Case No.
08-42534).  Christopher J. Moser, Esq., at Quilling, Selander,
Cummiskey & Lownds PC, represents the Debtor as counsel.  The
Debtor's schedules listed total assets of $15,319,200 and total
liabilities of $6,985,839.


SOUTHPOINTE EXPANSION: Plan Confirmation Hearing Set for Oct. 29
----------------------------------------------------------------
A hearing to confirm Southpointe Expansion L.P.'s second amended
plan of reorganization is scheduled at 9:30 a.m. on Oct. 29, 2008,
at the Hon. D. Michael Lynn's Courtroom in Fort Worth, Texas.

Based in Fort Worth, Texas, Southpointe Expansion LP filed for
Chapter 11 protection on June 2, 2008 (N.D. Tex. Case No.
08-42534).  Christopher J. Moser, Esq., at Quilling, Selander,
Cummiskey & Lownds PC, represents the Debtor as counsel.  The
Debtor's schedules listed total assets of $15,319,200 and total
liabilities of $6,985,839.


STATION CASINOS: S&P Puts 'B-' Corp. Credit Rating on WatchNeg
--------------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings, including
its 'B-' corporate credit rating, on Las Vegas-based Station
Casinos Inc. on CreditWatch with negative implications.

"The CreditWatch listing reflects our concerns around the
company's progress toward amending its bank covenants," explained
S&P's credit analyst Ben Bubeck.

On Sept. 17, 2008, following S&P's review of the terms of a
proposed amendment to Station's bank facility, S&P lowered its
rating one notch and cited concern that, despite the proposed
loosening of the covenants included in the amendment, the company
could face a covenant violation potentially as soon as
March 31, 2009.

The conclusion of S&P's review incorporated the assumption that
Station would execute the amendment in the near term.  However,
the company has yet to announce execution of the amendment. In the
absence of an amendment, S&P projects that the company will
violate its total leverage covenant on Dec. 31, 2008.  In
addition, more recent turmoil in the financial markets and
continued weakening of economy are likely pressuring performance
in the Las Vegas locals market more than previously contemplated.

In resolving the CreditWatch listing, S&P will continue to monitor
the company's progress toward executing an amendment to its bank
facility, and will reassess its conclusion in the event that the
terms of the proposed amendment have changed since our previous
review on Sept. 17, 2008.  S&P will also revisit its assumptions
around expectations for Station's performance as part of the
review.


STEVEN MOLASKY: To Sell Real Estate Holdings Under Bankruptcy Plan
------------------------------------------------------------------
Tim O'Reiley of Las Vegas Business Press reports that developer
Steven D. Molasky has submitted a Chapter 11 bankruptcy plan that
will require him to sell almost all of his personal real estate
holdings.

According to the report, the plan calls for putting Mr. Molasky's
nine remaining properties into a liquidating trust.  The assets
will be offered for sale, but lenders could repossess them should
the market remains weak.  

Included in the assets for sale will be Mr. Molasky's home in Las
Vegas and the residences of his former wife and children and Mark
Cassidy, president of the real estate firm Molasky Pacific.  Mr.
Molasky's largest property is the three-acre oceanfront estate in
Malibu that was listed last month at $24 million.  The value was
down from $30 million declared in court papers filed in May. The
plan listed $29.4 million in mortgages against the house, although
some of the amounts were disputed, the report said.

According to the report, the creditors committee will seek
approval on Oct. 29 to pursue claims against Mr. Molasky's father
Irwin, including erasing some of the claims he has listed in the
case and seeking refunds on other transactions.

According to the report, "It remains an open question whether
anything will be left for the unsecured debts that were listed at
$55.4 million once the remaining properties are sold and mortgages
paid down."

In his plans, Mr. Molasky disclosed remaining secured debt of
$6.4 million, significantly down from $51.6 million in May.  

The case doesn't affect operations of Molasky Pacific, the real
estate firm where Steve Molasky sits as chairman and chief
executive officer, according to the report.

Steven D. Molasky filed for Chapter 11 bankruptcy protection on
May 3, 2008, in (Bankr. D. Nev., Case No.: 08-14517).  Gregory
Garman of Gordon Silver represents the unsecured creditors
committee.  Mr. Molasky's attorney is Laurel Davis, Esq., at
Fennemore Craig.  Attorney Richard Holley of Santoro, Driggs,
Walch, Kearney, Holley & Thompson represents Irwin Union Bank of
Columbus, Ind., one of the largest unsecured claimants in that
case at $9.2 million.  When Mr. Molasky filed for bankruptcy, he
listed assets of $50 million to $100 million and debts of
$50 million to $100 million.


TANEJA CENTER: U.S. Trustee Reschedules 341(a) Meeting for Nov. 17
------------------------------------------------------------------
The United States Trustee for the Eastern District of Virginia
rescheduled the meeting of creditors of Taneja Center Inc. and its
debtor-affiliates at 9:00 a.m., on Nov. 17, 2008, at the Office of
the U.S. Trustee, along 115 South Union Street, Suite 206 in
Alexandria, Virginia.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Fairfax, Virginia-based Taneja Center, Inc., and its affiliates
filed for Chapter 11 protection on June 9, 2008 (Bankr. E.D. Va.
Lead Case No. 08-13292).  Bruce W. Henry, Esq., at Henry &
O'Donnell P.C., represents the Debtors in their restructuring
efforts.  The Debtors' schedules listed total assets of
$20,500,814 and total liabilities of $16,566,131.


TIDEWATER SPORTS: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Tidewater Sports & Collectibles Inc.
        213 Research Dr., Ste. 102
        Chesapeake, VA 23320

Bankruptcy Case No.: 08-73516

Type of Business: The Debtor sell sports memorabilias.
                  See: http://www.tidewatersports.com/  

Chapter 11 Petition Date: October 16, 2008

Court: Eastern District of Virginia (Norfolk)

Debtor's Counsel: John Edwin Bedi, Esq.
                  leslye@bedilaw.com
                  Lake Center I
                  501 Independence Pkwy., Suite 102
                  Chesapeake, VA 23320
                  Tel: (757) 497-9075

Total Assets: $1,572,868

Total Debts: $2,099,084

A list of the Debtor's largest unsecured creditors is available
for free at:

            http://bankrupt.com/misc/vaeb08-73516.pdf


TWEETER HOME: Might File for Chapter 11 Protection Again
--------------------------------------------------------
Tweeter Home Entertainment Group, Inc., might file for another
Chapter 11 protection, according to technology blog Engadget.

The Deal relates that Tweeter Home emerged from bankruptcy 15
months ago.  Another Chapter 11 filing for Tweeter Home would
reflect badly on the special-situations investment firm Schultze
Asset Management LLC, The Deal says.   Schultze Asset Management
bought Tweeter Home during a bankruptcy auction in 2007.

Tweeter Home's CEO George Granoof left the company due to a
"falling out" with  Schultze Asset, The Boston Herald reports,
citing an industry source.

According to Stephen Silver at Dealerscope.com, Craig Boucher will
replace Mr. Granoff as CEO on an interim basis.

                       About Tweeter Home

Based in Canton, Mass., Tweeter Home Entertainment Group Inc.
-- http://www.tweeter.com/-- retails mid-to high-end audio and     
video consumer electronics products.  Tweeter and seven of its
affiliates filed for chapter 11 Protection on June 11, 2007
(Bankr. D. Del. Case Nos. 07-10787 through 07-10796).  Gregg M.
Galardi, Esq., Mark L. Desgrosseilliers, Esq., and Sarah E.
Pierce, Esq., at Skadden, Arps, Slate, Meagher & Flom, LLP,
represented the Debtors.  Kurtzman Carson Consultants LLC acted as
the Debtors' claims and noticing agent.

Bruce Grohsgal, Esq., William P. Weintraub, Esq., and Rachel Lowy
Werkheiser, Esq., at Pachulski Stang Ziehl & Jones LLP; and Scott
L. Hazan, Esq., Lorenzo Marinuzzi, Esq., and Todd M. Goren, Esq.,
at Otterbourg, Steindler, Houston & Rosen, P.C., represented the
Official Committee of Unsecured Creditors.

As of Dec. 21, 2006, Tweeter had total assets of $258,573,353 and
total debts of $190,417,285.  The Debtors' exclusive period to
file a plan of reorganization expired on June 5, 2008.  (Tweeter
Bankruptcy News, Issue No. 25, Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000).   


TWL CORP: Voluntary Chapter 11 Case Summary
-------------------------------------------
Debtor: TWL Corp.        
        4101 International Parkway
        Carrollton, TX 75007

Bankruptcy Case No.: 08-42773

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                                     Case No.
        ------                                     --------
TWL Knowledge Group, Inc.                          08-42774
fka Trinity Workplace Learning Corporation

Type of Business: The Debtors operate a trucking company.
                  See: http://www.twl-erie.com/

Chapter 11 Petition Date: October 19, 2008

Court: Eastern District of Texas (Sherman)

Judge: Brenda T. Rhoades

Debtor's Counsel: J. Mark Chevallier, Esq.
                  mchevallier@mcguirecraddock.com
                  McGuire, Craddock & Strother, P.C.
                  3550 Lincoln Plaza
                  500 North Akard
                  Dallas, TX 75201
                  Tel: (214) 954-6800
                  Fax: (214)954-6868

Estimated Assets: $1 million to $10 million

Estimated Debts: $10 million to $50 million

The Debtor did not file a list of 20 largest unsecured creditors.


US AIRWAYS: S&P Keeps 'B-' Corp. Credit Rating; Removes Neg. Watch
------------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its ratings on US
Airways Group Inc., including the 'B-' corporate credit rating,
and removed them from CreditWatch with negative implications.  The
ratings had been placed on CreditWatch May 22, 2008, as part of an
industrywide review.  The outlook is negative.  Ratings on pass-
through certificates insured by bond insurers were not on
CreditWatch and are not affected.  Certain ratings on nonbond
insured pass-through certificates were revised based on material
changes in collateral coverage.

"The rating affirmation reflects improving revenue generation and
lower oil prices, which should allow US Airways to maintain
adequate near-term liquidity and generate better financial results
in 2009," said S&P's credit analyst Betsy Snyder.  "The company is
pursuing several initiatives to aid its liquidity, and is seeking
an amendment request to prepay $400 million on its $1.6 billion
term loan facility, which would reduce the required minimum
unrestricted cash balance to $850 million from the current
$1.25 billion."

The ratings on US Airways Group Inc. reflect participation in the
high-risk U.S. airline industry, a substantial debt burden,
limited financial flexibility, and ongoing labor integration
problems.  Ratings also incorporate the company's improved route
network after the merger of America West and US Airways and modest
annual debt maturities through 2013.

US Airways has reported losses since the fourth quarter of 2007,
due primarily to rising fuel prices that peaked in July 2008 at
$147 a barrel.  Although fuel prices have since abated
substantially, they remain high by historical standards and we
expect them to remain volatile.  Like other airlines, the company
has announced plans to reduce capacity-a decline of 5%-7% in the
fourth quarter of 2008 and 4%-6% in 2009 for its mainline
operations.  It is also pursuing various fee-generating
initiatives that the company has estimated could result in
$400 million-$500 million in annual incremental revenue.  

Still, the company will also face challenges related to a U.S.
economy that Standard & Poor's economists believe is in recession,
and which will likely result in softer demand.  As a result, S&P
expects the company to report a 2008 loss approaching
$900 million, but to return to a modest profit in 2009, based on
lower fuel prices and the full-year benefit of fees initiated in
the latter half of 2008.

S&P could lower its ratings on US Airways if a recession or a
renewed acceleration in fuel prices causes greater-than-expected
losses, reducing unrestricted cash to below $1.5 billion.  S&P
could revise the outlook to stable if lower fuel prices and
continued revenue gains resulted in a return to profitability on a
sustained basis.


VEASY & HORNER: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Veasy & Horner Development, LLC
        938 Linden Avenue
        South San Francisco, CA 94080

Bankruptcy Case No.: 08-32001

Chapter 11 Petition Date: October 20, 2008

Court: Northern District of California (San Francisco)

Debtor's Counsel: John S. Morken, Sr., Esq.
                  jomork@aol.com
                  Morken Law Office
                  760 Market St., Suite #938
                  San Francisco, CA 94102
                  Tel: (415) 391-6140

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

The Debtor did not file a list of 20 largest unsecured creditors.


VELOCITY EXPRESS: Has Until Oct. 31 to Submit Listing Cure Plan
---------------------------------------------------------------
Velocity Express Corporation received notice from The NASDAQ
Stock Market on Oct. 16, 2008, that the company is no longer
in compliance with Marketplace Rule 4310(c)(3) requiring the
company to maintain a minimum of $2,500,000 in stockholders'
equity.

As provided in the NASDAQ rules, the company has the opportunity
to submit a response to the NASDAQ staff on or before Oct. 31,
2008, outlining a specific plan and timeline to achieve and
sustain compliance.  If the NASDAQ determines the company has
not presented a plan that adequately addresses the stockholders'
equity issue, NASDAQ will provide written notice that the
company's securities will be delisted.  At that time, the
company has the right to appeal the decision to a NASDAQ Listing
Qualifications Panel.

Before Oct. 31, 2008, Velocity intends to submit to the NASDAQ
staff its plan to regain compliance with the minimum
stockholder's equity requirement based on the prospective
worldwide alliance transactions disclosed during the company's
Oct. 15, 2008, investor conference call.  There is no assurance
that the NASDAQ staff will accept the company's plan of
compliance.  In the event the NASDAQ staff does not accept the
company's plan, the company intends to request an appeal hearing
before the NASDAQ Listing Qualifications Panel.

Headquartered in Westport, Connecticut, Velocity Express
Corporation (NASDAQ:VEXP) -- http://www.velocityexp.com/--  
together with its subsidiaries, is engaged in the business of
providing time definite ground package delivery services.  The
company operates in the United States with limited operations in
Canada.  Its customers comprised of multi-location, blue chip
customers with operations in the healthcare, commercial and office
products, financial, transportation and logistics, technology and
energy sectors.


VERTIS COMMUNICATIONS: Consumates Prepack Plan, Merger with ACG
---------------------------------------------------------------
Vertis Communications disclosed that it consummated its
prepackaged Chapter 11 plan and its merger with American Color
Graphics.

The new combined company, headquartered in Baltimore and
unified under the Vertis Communications brand, has 100 locations
worldwide and nearly 8,000 professionals serving more than 3,000
clients.

"The successful restructuring and merger joins two industry
leaders to become a robust, dynamic and exceptional company,"
Mike DuBose, chairman and CEO of Vertis, said.  "United, we are
solidly positioned to provide premier targeted marketing
solutions through multiple channels.  The new Vertis
Communications has greater capability to deliver results-driven
marketing programs for customers--from strategy development
through point of sale.  We anticipate outstanding opportunities
for our customers, employees, and business partners."

To prepare for the merger of American Color into Vertis,
integration teams comprised of leaders and experts from the two
organizations rigorously analyzed the tools, technology and talent
available, with the goal to leverage the strengths of both
companies in order to better serve customers.   

"The primary objective is to use what's best from both
organizations, truly leveraging our strengths, and reinforcing our
leadership position within the industry," Mr. DuBose added.

The merger integrates American Color's 15 production facilities,
including offset and flexographic print facilities, a Total
Market Coverage location and premedia facilities, well as
numerous managed service sites into Vertis.  American Color's
premedia capabilities include sophisticated design, color and
brand management services for the packaging market, plus a vast
array of business and workflow solutions technologies.  The
combination of these operations and capabilities with Vertis'
market-leading advertising insert production facilities, world-
class premedia, direct marketing, media placement, technology,
interactive and creative services offers customers an unparalleled
combination of solutions and production capabilities to meet their
marketing challenges.

"With a stronger balance sheet, a larger talent pool and enhanced
resources, we are transforming our company and look forward to
working with our customers to leverage our capabilities and
expertise in ways that are unprecedented," Mr. DuBose said.  
"Our customers will be the true beneficiaries of the merger.  
Their advertising campaigns will be enhanced with high-impact
print advertising and relevant interactive communications."

"With the consensual prepackaged restructuring, we were able to
reduce the combined company's debt obligations by approximately
$1 billion before transaction fees and expenses," Mr. DuBose said.
"To be able to do that while maximizing value for our stakeholders
is a major accomplishment and source of pride for everyone who
supported our turnaround plan.  With that behind us, we are
transforming our business to benefit customers, employees and
partners."
Upon emergence, the new Vertis will have a $250 million Senior
Secured Revolving Credit exit facility from GE Commercial Finance
and an approximately $400 million term loan funded by several
lenders.

                  About American Color Graphics

American Color Graphics Inc. -- http://www.americancolor.com/
-- is one of North America's largest and most experienced full
service premedia and print companies, with eight print locations
across the continent, six regional premedia centers, photography
studios nationwide and a growing roster of customer managed
service sites.  The company provides solutions and services such
as asset management, photography, and digital workflow solutions
that improve the effectiveness of advertising and drive revenues
for their customers.

The company filed and its four affiliates filed for Chapter 11
protection on July 15, 2008 (Bank.D.Del. Case No. 08-11467).
Pauline K. Morgan, Esq. and Sean T. Greecher ,Esq., at Young,
Conaway, Stargatt & Taylor represent the Debtors in their
restructuring efforts.  Lehman Brothers, Inc. serves as the
company's financial advisors.  When the Debtors filed for
protection from their creditors they listed estimated assets of
$100 million to $500 million and estimated debts of $500 million
to $1 billion.

ACG Holdings, Inc. and American Color Graphics also filed
bankruptcy petition under the Companies' Creditors Arrangement Act  
before the Ontario Superior Court of Justice (Commercial List) on
July 16, 2008.  Jay A. Carfagnini, Esq., David B. Bish, Esq., and
Jason Wadden, Esq. at Goodmans LLP are their solicitors.
PricewaterhouseCoopers Inc. serves as their CCAA Information
Officer.

                     About Vertis Holdings Inc.

Headquartered in Baltimore, Maryland, Vertis Holdings, Inc. --
http://www.vertisinc.com/-- is a provider of targeted print       
advertising and direct marketing solutions to America's retail and
consumer services companies.  The company and its six affiliates
filed for Chapter 11 protection on July 15, 2008 (Bankr. D. Del.
Case No. 08-11460).  Gary T. Holtzer, Esq. and Stephen A.
Youngman, Esq. at Weil, Gotshal & Manges LLP represent the Debtors
as lead counsels.   Mark D. Collins, Esq. and Michael Joseph
Merchant, Esq. at Richards Layton & Finger, P.A. represent the
Debtors as Delaware local counsels.  Lazard Freres & Co. LLC is
the company's financial advisor.  When the Debtors filed for
protection from their creditors they listed assets of between
$500 million and $1 billion and debts of more than $1 billion.

(Vertis Bankruptcy News; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


WINGS ALOFT: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Wings Aloft Leasing, LLC
        8467 Perimeter Road S
        Seattle, WA 98108-3828

Bankruptcy Case No.: 08-16880

Chapter 11 Petition Date: October 16, 2008

Court: Western District of Washington (Seattle)

Debtor's Counsel: Craig S Sternberg
                  craig@stoslaw.com
                  Sternberg Thomson Okrent & Scher PLLC
                  500 Union St., Ste. 500
                  Seattle, WA 98101
                  Tel: (206) 386-5438

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

The Debtor did not file a list of 20 largest unsecured creditors.


WMALT: Moody's Downgrades Ratings on 160 Tranches
-------------------------------------------------
Moody's Investors Service has downgraded the ratings of 160
tranches from 9 transactions issued by WMALT.  Of these, 1 tranche
remains on review for further possible downgrade.  The collateral
backing these transactions consists primarily of first-lien,
adjustable-rate, Alt-A mortgage loans.

Ratings were downgraded, in general, based on higher than
anticipated rates of delinquency, foreclosure, and REO in the
underlying collateral relative to credit enhancement levels.

Complete rating actions are:

Issuer: WaMu Mortgage Pass-Through Certificates, WMALT Series
2005-10 Trust

  -- Cl. 1-CB, Downgraded to Baa2 from Aaa
  -- Cl. 2-A-1, Downgraded to Aa3 from Aaa
  -- Cl. 2-A-2, Downgraded to Baa3 from Aa1
  -- Cl. 2-A-3, Downgraded to Baa2 from Aaa
  -- Cl. 2-A-4, Downgraded to Baa2 from Aaa
  -- Cl. 2-A-5, Downgraded to Baa2 from Aaa
  -- Cl. 2-A-6, Downgraded to Baa2 from Aaa
  -- Cl. 2-A-7, Downgraded to Baa2 from Aaa
  -- Cl. 2-A-8, Downgraded to Baa2 from Aaa
  -- Cl. 2-A-9, Downgraded to A1 from Aaa
  -- Cl. 2-A-10, Downgraded to Baa2 from Aaa
  -- Cl. 3-CB-1, Downgraded to Aa3 from Aaa
  -- Cl. 3-CB-2, Downgraded to Baa3 from Aa1
  -- Cl. 4-CB-1, Downgraded to Aa3 from Aaa
  -- Cl. 4-CB-2, Downgraded to Baa3 from Aa1
  -- Cl. 4-CB-3, Downgraded to Baa2 from Aaa
  -- Cl. 4-CB-4, Downgraded to Baa2 from Aaa
  -- Cl. 4-CB-5, Downgraded to A2 from Aaa
  -- Cl. 4-CB-6, Downgraded to Baa2 from Aaa
  -- Cl. 5-A, Downgraded to Baa2 from Aaa
  -- Cl. C-X, Downgraded to Aa3 from Aaa
  -- Cl. C-P, Downgraded to Baa2 from Aaa
  -- Cl. B-1, Downgraded to B2 from A2
  -- Cl. B-2, Downgraded to Caa2 from Ba1
  -- Cl. B-3, Downgraded to Ca from B2

Issuer: WaMu Mortgage Pass-Through Certificates, WMALT Series
2005-11 Trust

  -- Cl. A-1, Downgraded to Aa3 from Aaa
  -- Cl. A-2, Downgraded to Aa3 from Aaa
  -- Cl. A-3, Downgraded to Aa3 from Aaa
  -- Cl. A-4, Downgraded to Aa3 from Aaa
  -- Cl. A-5, Downgraded to Baa1 from Aaa
  -- Cl. A-6, Downgraded to Baa1 from Aaa
  -- Cl. A-7, Downgraded to Baa1 from Aaa
  -- Cl. A-8, Downgraded to Baa1 from Aaa
  -- Cl. A-9, Downgraded to Baa2 from Aa1
  -- Cl. X, Downgraded to Aa3 from Aaa
  -- Cl. P, Downgraded to Baa1 from Aaa

Issuer: WaMu Mortgage Pass-Through Certificates, WMALT Series
2005-6 Trust

  -- Cl. 1-CB, Downgraded to A2 from Aaa
  -- Cl. 2-A-2, Downgraded to A1 from Aaa
  -- Cl. 2-A-3, Downgraded to A1 from Aaa
  -- Cl. 2-A-4, Downgraded to A1 from Aaa
  -- Cl. 2-A-7, Downgraded to A1 from Aaa
  -- Cl. 2-A-8, Downgraded to A1 from Aaa
  -- Cl. 2-A-9, Downgraded to A1 from Aaa
  -- Cl. 2-A-10, Downgraded to A2 from Aa1
  -- Cl. 3-CB, Downgraded to A1 from Aaa
  -- Cl. C-P, Downgraded to A1 from Aaa

Issuer: WaMu Mortgage Pass-Through Certificates, WMALT Series
2005-8 Trust

  -- Cl. 1-A-2, Downgraded to A1 from Aaa
  -- Cl. 1-A-3, Downgraded to A1 from Aaa
  -- Cl. 1-A-4, Downgraded to A1 from Aaa
  -- Cl. 1-A-5, Downgraded to A1 from Aaa
  -- Cl. 1-A-6, Downgraded to A1 from Aaa
  -- Cl. 1-A-7, Downgraded to A1 from Aaa
  -- Cl. 1-A-8, Downgraded to A1 from Aaa
  -- Cl. 1-A-9, Downgraded to A2 from Aa1
  -- Cl. C-P, Downgraded to A1 from Aaa
  -- Cl. 2-CB-2, Downgraded to A2 from Aa1
  -- Cl. 2-CB-5, Downgraded to A1 from Aaa
  -- Cl. 3-CB-1, Downgraded to Aa2 from Aaa
  -- Cl. 3-CB-2, Downgraded to A2 from Aa1
  -- Cl. 4-A, Downgraded to Aa3 from Aaa

Issuer: WaMu Mortgage Pass-Through Certificates, WMALT Series
2005-9 Trust

  -- Cl. 1-CB, Downgraded to A2 from Aaa
  -- Cl. 2-A-1, Downgraded to Aa2 from Aaa
  -- Cl. 2-A-2, Downgraded to A2 from Aaa
  -- Cl. 2-A-3, Downgraded to A2 from Aaa
  -- Cl. 2-A-4, Downgraded to A2 from Aaa
  -- Cl. 2-A-5, Downgraded to A2 from Aaa
  -- Cl. 2-A-6, Downgraded to A2 from Aaa
  -- Cl. 2-A-7, Downgraded to A3 from Aa1
  -- Cl. 3-CB, Downgraded to A1 from Aaa
  -- Cl. 4-A-1, Downgraded to Aa1 from Aaa
  -- Cl. 4-A-2, Downgraded to A2 from Aaa
  -- Cl. 4-A-3, Downgraded to A2 from Aaa
  -- Cl. 4-A-4, Downgraded to Aa1 from Aaa
  -- Cl. 4-A-5, Downgraded to A3 from Aa1
  -- Cl. 5-A-1, Downgraded to Aa1 from Aaa
  -- Cl. 5-A-2, Downgraded to A3 from Aa1
  -- Cl. 5-A-3, Downgraded to A2 from Aaa
  -- Cl. 5-A-4, Downgraded to A2 from Aaa
  -- Cl. 5-A-5, Downgraded to A2 from Aaa
  -- Cl. 5-A-6, Downgraded to A2 from Aaa
  -- Cl. 5-A-7, Downgraded to A2 from Aaa
  -- Cl. 5-A-8, Downgraded to A2 from Aaa
  -- Cl. 5-A-9, Downgraded to Aa1 from Aaa
  -- Cl. C-X, Downgraded to Aa1 from Aaa
  -- Cl. C-P, Downgraded to A2 from Aaa

Issuer: Washington Mutual Mortgage Pass-Through Certificates,
WMALT Series 2005-7

  -- Cl. 1-A-2, Downgraded to A1 from Aaa
  -- Cl. 1-A-3, Downgraded to A1 from Aaa
  -- Cl. 1-A-4, Downgraded to A1 from Aaa
  -- Cl. 1-A-5, Downgraded to A1 from Aaa
  -- Cl. 1-A-6, Downgraded to A1 from Aaa
  -- Cl. 1-A-7, Downgraded to A2 from Aaa
  -- Cl. 1-A-8, Downgraded to A1 from Aaa
  -- Cl. 2-CB-1, Downgraded to Aa1 from Aaa
  -- Cl. 2-CB-2, Downgraded to A2 from Aaa
  -- Cl. 2-CB-3, Downgraded to A1 from Aaa
  -- Cl. 2-CB-4, Downgraded to Aa1 from Aaa
  -- Cl. 2-CB-5, Downgraded to Aa1 from Aaa
  -- Cl. 2-CB-6, Downgraded to A1 from Aaa
  -- Cl. 2-CB-7, Downgraded to A1 from Aaa
  -- Cl. 3-CB, Downgraded to A1 from Aaa
  -- Cl. 4-CB, Downgraded to A2 from Aaa
  -- Cl. C-P, Downgraded to A1 from Aaa
  -- Cl. B-1, Downgraded to Ba2 from Aa2
  -- Cl. B-2, Downgraded to B3 from A3
  -- Cl. B-3, Downgraded to Caa3 from Ba3

Issuer: WaMu Mortgage Pass-Through Certificates, WMALT Series
2006-1 Trust

  -- Cl. 1-A-1, Downgraded to A1 from Aaa
  -- Cl. 1-A-2, Downgraded to Ba1 from Aa1
  -- Cl. C-P, Downgraded to Baa3 from Aaa
  -- Cl. 2-CB-1, Downgraded to Baa3 from Aaa
  -- Cl. 2-CB-2, Downgraded to Baa3 from Aaa
  -- Cl. 2-CB-3, Downgraded to Ba1 from Aa1
  -- Cl. 3-A-1, Downgraded to Aa3 from Aaa
  -- Cl. 3-A-2, Downgraded to Aa2 from Aaa
  -- Cl. 3-A-3, Downgraded to Baa3 from Aaa
  -- Cl. 3-A-4, Downgraded to Baa3 from Aaa
  -- Cl. 3-A-5, Downgraded to Baa3 from Aaa
  -- Cl. 3-A-6, Downgraded to Baa3 from Aaa
  -- Cl. 3-A-7, Downgraded to Baa3 from Aaa
  -- Cl. 3-A-8, Downgraded to Baa3 from Aaa
  -- Cl. 3-A-9, Downgraded to Baa3 from Aaa
  -- Cl. 3-A-10, Downgraded to Ba1 from Aaa
  -- Cl. 4-CB, Downgraded to Baa3 from Aaa
  -- Cl. 5-CB-1, Downgraded to Aa3 from Aaa
  -- Cl. 5-CB-2, Downgraded to A1 from Aaa
  -- Cl. 5-CB-3, Downgraded to Baa3 from Aaa
  -- Cl. 5-CB-5, Downgraded to Baa3 from Aaa
  -- Cl. 5-CB-6, Downgraded to Ba1 from Aa1
  -- Cl. B-1, Downgraded to Caa1 from Aa3
  -- Cl. B-2, Downgraded to Caa3 from Ba2
  -- Cl. B-3, Downgraded to Ca from B2

Issuer: WaMu Mortgage Pass-Through Certificates, WMALT Series
2006-2 Trust

  -- Cl. 1-A-1, Downgraded to Aa1 from Aaa
  -- Cl. 1-A-2, Downgraded to Aa1 from Aaa
  -- Cl. 1-A-3, Downgraded to A2 from Aaa
  -- Cl. 1-A-4, Downgraded to A2 from Aaa
  -- Cl. 1-A-5, Downgraded to A2 from Aaa
  -- Cl. 1-A-6, Downgraded to A2 from Aaa
  -- Cl. 1-A-9, Downgraded to A2 from Aaa
  -- Cl. 1-A-11, Downgraded to A2 from Aaa
  -- Cl. 1-A-12, Downgraded to A3 from Aa1
  -- Cl. C-P, Downgraded to A2 from Aaa
  -- Cl. 2-CB, Downgraded to A2 from Aaa
  -- Cl. 3-CB, Downgraded to A2 from Aaa
  -- Cl. 4-CB, Downgraded to A2 from Aaa

Issuer: WaMu Mortgage Pass-Through Certificates, WMALT Series
2006-4 Trust

  -- Cl. 1-A-1, Downgraded to Aa3 from Aaa
  -- Cl. 1-A-2, Downgraded to Ba3 from Aa1
  -- Cl. 2-A-1, Downgraded to Aa3 from Aaa
  -- Cl. 2-A-2, Downgraded to Ba3 from Aa1
  -- Cl. 1-P, Downgraded to Ba2 from Aaa
  -- Cl. C-X, Downgraded to Aa3 from Aaa
  -- Cl. 3-A-1, Downgraded to Ba1 from Aaa
  -- Cl. 3-A-3, Downgraded to Ba1 from Aaa
  -- Cl. 3-A-4, Downgraded to Ba3 from Aaa
  -- Cl. 3-A-5, Downgraded to B1 from Aaa
  -- Cl. 3-A-6, Downgraded to Ba3 from Aaa
  -- Cl. 3-M-1, Downgraded to B3 from Baa1; Placed Under Review
     for further Possible Downgrade

  -- Cl. 3-M-2, Downgraded to Ca from B3
  -- Cl. 3-M-4, Downgraded to C from Ca
  -- Cl. 3-B-1, Downgraded to C from Ca
  -- Cl. 3-B-2, Downgraded to C from Ca


YORK FIRE: Best Affirms Issuer Credit Rating at 'bb'
----------------------------------------------------
A.M. Best Co. has affirmed the financial strength rating of
B(Fair) and issuer credit rating of "bb" of York Fire & Casualty
Insurance Company (Ontario), removing the ratings from under
review with developing implications and assigning a negative
outlook.

The affirmation of the ratings is based on York's financial
results as of June 30, 2008, which is the most recent information
available to A.M. Best.

Concurrently, A.M. Best has withdrawn the ratings and assigned a
category NR-4 to the FSR and an "nr" to the ICR.

This rating action comes in response to the announcement by
Kingsway Financial Services Inc. (Mississauga, Canada) that it has
completed the sale of York to La Capitale, Compagnie d'Assurance
Generale for C$95 million, effective September 30, 2008.  La
Capitale does not participate in A.M. Best's interactive rating
process; however, it does maintain a Best's public data rating of
A- pd(Excellent).


* NewOak Selects Vincent Truglia as Global Managing Director
------------------------------------------------------------
NewOak Capital appointed Vincent J. Truglia as managing director
of Global Economic Research.

"We strongly believe forecasting credit performance of any type of
credit going forward requires understanding of powerful forces
impacting the life blood to the real economy (i.e. availability of
reasonably priced credit) and the potential government policies to
restore financial stability.  Mr. Truglia's long tenure and
experience in dealing with financial crises in both developing and
developed economies will bring another critical dimension to
NewOak Capital's innovative 'reality-based' approach in assessing
credit risks in our client structured portfolios," says Ron
D'Vari, CEO of NewOak Capital.

Mr. Truglia has over 31 years experience in assessing how country
risk, in all its myriad facets, affects financial markets, from
the most highly developed countries to the weakest emerging
markets.  His specialty is analyzing how such risks might be
affected by an existing or possibly changing public policy
framework.  Prior to joining NewOak Capital, Mr. Truglia was the
Managing Partner of WHAnalysis.com and Managing Director of the
Sovereign Risk Unit at Moody's Investors Service, responsible for
the ratings of over 100 countries, 20+ supranationals, and
hundreds of government related companies for the fixed income
market.  Earlier he worked for the Federal Reserve Bank of New
York in the Bank Supervision area, the Bank of New York/Irving
Trust as a Senior International Economist, and the NCNB, the
parent company of Bank of America, where he established NCNB's
country risk department.

During his long tenure on Wall Street, Mr. Truglia has been
intimately involved in analyzing all economic and banking crises
since the 1970s, including the emerging market debt crisis of the
1980s, the ERM crisis of the early 1990s, the Scandinavian banking
crisis of the early 1990s, the 1997 East Asian Crisis, the 1998
Russian crisis, as well as the present financial market crisis
facing the U.S. and other countries.  He received an M.A. and ABD
in International Economics from McGill University in Montreal,
plus a B.S.F.S. from the School of Foreign Service at Georgetown
University, Washington, D.C.  Mr. Truglia also did graduate
research under a Ford Foundation Grant at Trinity College, Dublin,
Ireland.  In addition, he studied at the Università per Stranieri,
in Perugia, Italy.

"Combining an in-depth analysis of mortgage loan risks at borrower
level through our affiliate EdgeMAC with informed understanding of
policy responses provide NewOak Capital with an effective
valuation of risks facing investors today," says James Frischling,
president.

                   About Edge Mortgage Advisory

EdgeMAC -- http://www.edgemac.com-- is a mortgage advisory and  
solution platform specializing in providing institutional clients
with residential mortgage loan and portfolio level solutions
encompassing due diligence, underwriting, refinancing and
modification.

                       About NewOak Capital

NewOak Capital -- http://www.newoakcapital.com--is an advisory,
asset management, and capital markets firm organized to serve
institutions in response to challenges arising from the global
credit markets.  It provides analysis, valuation, restructuring,
risk transfer, and management solutions and services to financial
institutions and investors to support their portfolio and
corporate needs.  NewOak Capital employs 18 senior professionals
with an average of 17 years of experience in the fixed-income
markets in addition to 8 junior and support staff.  It specializes
in residential and commercial mortgage loans and securities,
REITs, asset-backed securities, structured corporate securities
(CSOs/CLOs), and distressed financial companies.  NewOak Capital
employs a differentiated framework, an integrated "see-through"
analytics platform, and a team of experienced professionals with
diversified investment and modeling expertise to provide client
solutions and asset management.


* NachmanHaysBrownStein Selects Thomas Yessman as Sr. Consultant
----------------------------------------------------------------
NachmanHaysBrownstein, Inc., appointed Thomas J. Yessman as a
senior consultant in its New York office.

Mr. Yessman has broad experience in financial and forensic
accounting, litigation support, corporate and structured finance,
and the management of business operations.  He served as Chairman,
President and Chief Executive Officer of Sightseeing Tours of
America, Inc. (STA), the largest aviation-based sightseeing
company in the Northeast United States, and was previously its
Chief Operating Officer and Chief Financial Officer.  While
at STA, he negotiated strategic acquisitions and led the
infrastructure expansion of the accounting and information systems
to accommodate the doubling of the business over a five-year
period.

Previously, Mr. Yessman was a Senior Vice President of Americorp
Securities, a New York-based investment banking firm.  In that
role, he was responsible for both private and public financings
for small to mid-cap companies.  Financing structures included
leverage buyouts, initial public offerings (IPO’S), secondary
offerings, and private placement of debt and equity.

Mr. Yessman also has experience in the area of structured
finance: at Aegis Holdings Corp., a finance firm specializing in
originating, warehousing, and underwriting various asset-backed
securities, Tom Yessman’s responsibilities included building
and analyzing cash flow models and credit enhancement of the
securities.  He further established underwriting guidelines for
the conduit finance programs and collaborated with rating agencies
and the legal team to structure securities.

Mr. Yessman began his career in public accounting with David
Fischer and Company, a regional accounting firm in New Jersey,
where his duties included auditing, due diligence analysis,
mergers and acquisitions support, and forensic accounting.

Mr. Yessman can be reached at (908) 337-6806.

                   About NachmanHaysBrownstein

Based in Philadelphia, NachmanHaysBrownstein Inc. --
http://www.nhbteam.com/-- is one of the country's leading
turnaround and crisis management firms, having been included among
the "Outstanding Turnaround Firms" in Turnarounds & Workouts for
the past twelve consecutive years.  NHB demonstrates leadership in
corporate renewal by creating value and preserving capital through
turnaround and crisis management, financial advisory, investment
banking and fiduciary services to financially challenged companies
throughout America, as well as through their investors, lenders
and trade creditors.  NHB focuses on producing lasting performance
improvement and maximizing the business' value to stakeholders by
providing the leadership and credibility required to reconcile the
client's objectives, economic reality and available alternatives
to establish an achievable goal.


* S&P Lowers Ratings on 760 Classes from 85 RMBS Transactions
-------------------------------------------------------------
Standard & Poor's Ratings Services lowered its ratings on 760
classes from 85 residential mortgage-backed securities
transactions backed by U.S. Alternative-A mortgage loan collateral
issued in 2006 and 2007.  Most of these transactions are backed by
negatively amortizing collateral.  The downgraded classes have a
current balance of approximately $24.6 billion.  S&P removed 552
of the lowered ratings from CreditWatch with negative
implications.  Concurrently, S&P affirmed its ratings on 303
classes and removed 29 of the affirmed ratings from CreditWatch
negative.

In addition, S&P placed its ratings on eight other classes on
CreditWatch negative following the Oct. 10, 2008, placement of the
rating on Financial Security Assurance Inc. (FSA; AAA/Watch
Neg/--), which insures these certificates, on CreditWatch
negative.

The downgrades reflect S&P's opinion that projected credit support
for the affected classes is insufficient to maintain the previous
ratings given its current projected losses, as stated in "Revised
Projected Losses For 2006/First-Half 2007 U.S. Alt-A Short-Reset
Hybrid And Neg-Am RMBS," published Aug. 20, 2008, on
RatingsDirect.  S&P arrived at its estimated projected losses for
the Alt-A RMBS deals using the analysis outlined in "Standard &
Poor's Revised Default And Loss Curves For U.S. Alt-A RMBS
Transactions," published Dec. 19, 2007, on RatingsDirect.  The
revised loss assumptions used in this review also include the new
loss severity assumptions, which were outlined in
"Criteria/Structured Finance/RMBS: Standard & Poor's Revises U.S.
Subprime, Prime, And Alternative-A RMBS Loss Assumptions,"
published on July 30, 2008, on RatingsDirect.

As part of S&P's analysis, it considered the characteristics of
the underlying mortgage collateral as well as macroeconomic
influences.  For example, the risk profile of the underlying
mortgage pools influences S&P's default projections, while its
outlook for housing price declines and the health of the housing
market influence our loss severity assumptions.

To assess the creditworthiness of each class, S&P reviewed the
individual delinquency and loss trends of each transaction for
changes, if any, in risk characteristics, servicing, and the
expected ability to withstand additional credit deterioration.  In
order to maintain a rating higher than 'B', a class had to absorb
losses in excess of the base-case assumptions S&P assumed in its
analysis.  For example, one class may have to withstand
approximately 115% of its base-case loss assumptions in order to
maintain a 'BB' rating, while a different class may have to
withstand approximately 125% of S&P's base-case loss assumptions
to maintain a 'BBB' rating.

A class that has an affirmed 'AAA' rating can likely withstand
approximately 150% of its base-case loss assumptions under S&P's
analysis, subject to individual caps and qualitative factors
assumed on specific transactions.

S&P also took into account the pay structure of each transaction
and only stressed each class with losses that would occur while it
remained outstanding.  Additionally, S&P only gave excess interest
credit for the amount of time the class would be outstanding.  For
example, if S&P projected a class to pay down in 15 months, then
S&P only applied 15 months of losses to that class.  Additionally,
in such a case we assumed 15 months of excess spread if the class
was structured with excess spread as credit enhancement.

This release concludes S&P's current review of U.S. Alt-A RMBS
transactions backed by negatively amortizing and short-reset
hybrid adjustable-rate mortgage collateral.  S&P will now turn its
attention to resolving the CreditWatch actions taken on Oct. 15,
2008, most of which affected transactions backed by fixed-rate and
long-reset Alt-A collateral.  S&P will analyze deals in order of
performance, looking at the worse-performing deals first.

                        Rating Actions

Adjustable Rate Mortgage Trust 2007-2
Series 2007-2
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
2-A-1      00703AAD9     AAA            AAA/Watch Neg

American Home Mortgage Assets Trust 2006-1
Series 2006-1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1A1        02660WAA4     BBB            A
1A4        02660WAU0     BBB            A
M-1        02660WAF3     B              BBB
M-2        02660WAG1     CCC            B
M-7        02660WAM8     CC             CCC
M-8        02660WAN6     CC             CCC

American Home Mortgage Assets Trust 2006-3
Series 2006-3
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
I-A-3      02660UAD2     BBB            A/Watch Neg
II-A-3-1   02660UAH3     BBB            A/Watch Neg
II-A-3-2   02660UAJ9     BBB            A/Watch Neg
III-A-3-1  02660UAN0     BBB            A/Watch Neg
III-A-3-2  02660UAP5     BBB            A/Watch Neg
M-1        02660UAQ3     B              BB/Watch Neg
M-2        02660UAR1     CCC            B/Watch Neg
M-3        02660UAS9     CCC            B/Watch Neg
M-5        02660UAU4     CC             CCC

American Home Mortgage Assets Trust 2006-5
Series 2006-5
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-2        02660KAB8     AA             AAA
A-3-1      02660KAC6     B              AAA/Watch Neg
A-3-2      02660KAD4     B              AAA/Watch Neg
M-1        02660KAE2     CCC            A/Watch Neg
M-2        02660KAF9     CCC            BBB/Watch Neg
M-3        02660KAG7     CCC            BB/Watch Neg
M-4        02660KAH5     CCC            B/Watch Neg
M-5        02660KAJ1     CC             CCC
M-6        02660KAK8     CC             CCC

American Home Mortgage Assets Trust 2006-6
Series 2006-6
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A1-C       008684AC6     B              BBB/Watch Neg
A2-B       008684AE2     B              BBB/Watch Neg
M-1        008684AG7     CCC            B/Watch Neg
M-7        008684AN2     CC             CCC
M-8        008684AP7     CC             CCC

American Home Mortgage Assets Trust 2007-1
Series 2007-1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-2        02660BAB8     A              AAA
A-3        02660BAC6     BB             AAA/Watch Neg
M-1        02660BAD4     CCC            AA/Watch Neg
M-2        02660BAE2     CCC            AA-/Watch Neg
M-3        02660BAF9     CCC            A+/Watch Neg
M-5        02660BAH5     CC             BB+/Watch Neg
M-6        02660BAJ1     CC             BB/Watch Neg
M-7        02660BAK8     CC             CCC
M-4        02660BAG7     CCC            BBB/Watch Neg

American Home Mortgage Assets Trust 2007-2
Series 2007-2
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-2-A      026930AC1     AA             AAA
A-2-B      026930AR8     AA             AAA
A-3        026930AS6     B              AAA
M-1        026930AD9     CCC            AA+/Watch Neg
M-2        026930AE7     CCC            AA/Watch Neg
M-3        026930AF4     CCC            AA-/Watch Neg
M-4        026930AG2     CCC            A+/Watch Neg
M-5        026930AH0     CCC            A/Watch Neg
M-6        026930AJ6     CC             A-/Watch Neg
M-7        026930AK3     CC             BB+/Watch Neg
M-8        026930AL1     CC             B/Watch Neg
M-9        026930AM9     CC             CCC

American Home Mortgage Assets Trust 2007-4
Series 2007-4
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A2         026934AB5     AA             AAA
A3         026934AC3     AAA/Watch Neg  AAA
A4         026934AD1     AA             AAA
A5         026934AE9     AAA/Watch Neg  AAA
M1         026934AF6     CCC            AA+/Watch Neg
M2         026934AG4     CCC            AA/Watch Neg
M3         026934AH2     CCC            AA/Watch Neg
M4         026934AJ8     CC             A-/Watch Neg
M5         026934AK5     CC             BBB/Watch Neg
M6         026934AL3     CC             CCC

American Home Mortgage Assets Trust 2007-5
Series 2007-5
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-3        026936AE4     BB             AAA
M-1        026936AG9     CCC            A
M-2        026936AH7     CCC            BBB/Watch Neg
M-3        026936AJ3     CCC            BBB-/Watch Neg
M-4        026936AK0     CCC            BB/Watch Neg
M-5        026936AL8     CCC            B/Watch Neg
M-7        026936AN4     CC             CCC

American Home Mortgage Investment Trust 2006-1
Series 2006-1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
I-A-3      02660TJD6     BB             AAA/Watch Neg
I-M-1      02660TJJ3     B              BB
II-A-2     02660TJF1     BBB            AAA
II-A-4     02660TJH7     BBB            AAA
II-M-1     02660TJM6     CCC            B

American Home Mortgage Investment Trust 2007-1
Series 2007-1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-2        026932AD5     AA             AAA
A-3        026932AE3     B              A
M-1        026932AG8     CCC            BBB-
M-2        026932AH6     CCC            BB/Watch Neg
M-3        026932AJ2     CCC            BB-/Watch Neg
M-4        026932AK9     CCC            B+/Watch Neg
M-5        026932AL7     CCC            B/Watch Neg
M-6        026932AM5     CCC            B-/Watch Neg
M-7        026932AN3     CC             CCC

Banc of America Funding 2006-I Trust
Series 2006-I
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
S-B-6      05951VBF5     CCC            B
3-A-2      05951VAG4     BBB            AAA
4-A-1      05951VAH2     BB             AAA
5-A-4      05951VAM1     BB             AAA
6-A-2      05951VAW9     A              AAA
M-1        05951VAX7     BBB            AA+
M-2        05951VAY5     BB             AA
M-3        05951VAZ2     B              AA
M-4        05951VBA6     B-             A+
M-5        05951VBB4     CCC            A-
M-6        05951VBC2     CCC            BBB+
M-7        05951VBD0     CC             BBB-

Bear Stearns Mortgage Funding Trust 2006-AR4
Series 2006-AR4
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-2        07401JAB4     AA             AAA
B-1        07401JAC2     CCC            AA/Watch Neg
B-2        07401JAD0     CCC            A/Watch Neg
B-3        07401JAE8     CC             BBB/Watch Neg
B-4        07401JAF5     CC             BBB-/Watch Neg
B-5        07401JAG3     D              BB/Watch Neg

Bear Stearns Mortgage Funding Trust 2007-AR4
Series 2007-AR4
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
I-A-3      07401YAZ8     AA             AAA/Watch Neg
I-B-1      07401YAF2     BB+            AA+
I-B-2      07401YAG0     B              AA/Watch Neg
I-B-3      07401YAH8     B-             AA-/Watch Neg
I-B-4      07401YAJ4     CCC            A+/Watch Neg
I-B-5      07401YAK1     CCC            A/Watch Neg
I-B-6      07401YAL9     CCC            A-/Watch Neg
I-B-7      07401YAM7     CCC            BBB/Watch Neg
I-B-8      07401YAN5     CCC            BBB-/Watch Neg
I-B-9      07401YAP0     CCC            BB+/Watch Neg
II-A-2B    07401YBF1     AAA            AAA/Watch Neg
II-A-3     07401YAT2     BB             AAA/Watch Neg
II-B-1     07401YAU9     B-             BBB/Watch Neg
II-B-2     07401YAV7     CCC            BB/Watch Neg
II-B-3     07401YAW5     CCC            B/Watch Neg
II-B-4     07401YAX3     CCC            B-/Watch Neg

Chevy Chase Funding LLC Mortgage Backed-Certificates, Series 2006-
3 Trust
Series 2006-3
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-1        16678YAA0     AA             AAA/Watch Neg
A-2        16678YAB8     A              AAA/Watch Neg
A-NA                     AA             AAA/Watch Neg
IO                       AAA            AAA/Watch Neg
NIO                      AAA            AAA/Watch Neg
B-1        16678YAC6     B              A/Watch Neg
B-1NA                    B              A/Watch Neg
B-2        16678YAD4     CCC            B/Watch Neg
B-2NA                    CCC            B/Watch Neg

CHL Mortgage Pass-Through Trust 2006-OA4
Series 2006-OA4
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-1        126694E95     BBB            AAA
A-2        126694F29     BBB            AAA
A-3        126694F37     BBB            AAA
M-1        126694F52     B              AA+/Watch Neg
M-2        126694F60     CCC            AA/Watch Neg
M-3        126694F78     CCC            AA/Watch Neg
M-4        126694F86     CCC            A+/Watch Neg
M-5        126694F94     CCC            BBB/Watch Neg
M-6        126694G28     CC             BB/Watch Neg
M-7        126694G36     CC             B/Watch Neg
M-8        126694G44     CC             CCC

CHL Mortgage Pass-Through Trust 2006-OA5
Series 2006-OA5
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
IM1        126694N95     BB             AA+/Watch Neg
IM2        126694P28     B              AA/Watch Neg
IM3        126694P36     CCC            A/Watch Neg
IM4        126694P44     CCC            BBB/Watch Neg
IM5        126694P51     CCC            BB/Watch Neg
IM6        126694P69     CC             B/Watch Neg
IM7        126694P77     CC             CCC
IIM1       126694P93     BBB            BBB/Watch Neg

Deutsche Alt-A Securities Mortgage Loan Trust, Series 2007-OA3
Series 2007-OA3
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-3        25150WAC8     BB             AAA
M-1        25150WAD6     B              AA+/Watch Neg
M-2        25150WAE4     B-             AA/Watch Neg
M-3        25150WAF1     CCC            A+/Watch Neg
M-4        25150WAG9     CCC            A/Watch Neg
M-5        25150WAH7     CCC            A-/Watch Neg
M-6        25150WAJ3     CCC            BBB/Watch Neg
M-7        25150WAK0     CCC            BBB-/Watch Neg
M-8        25150WAL8     CCC            BB/Watch Neg
M-9        25150WAM6     CC             B/Watch Neg
M-10       25150WAN4     CC             CCC

Deutsche Alt-A Securities Mortgage Loan Trust, Series 2007-OA4
Series 2007-OA4
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
II-A-2     25151XAD3     BB+            AAA
M-1        25151XAK7     B              AA+/Watch Neg
M-2        25151XAL5     B-             AA/Watch Neg
M-3        25151XAM3     CCC            A+/Watch Neg
M-4        25151XAN1     CCC            A/Watch Neg
M-5        25151XAP6     CCC            A-/Watch Neg
M-6        25151XAQ4     CC             BBB/Watch Neg
M-7        25151XAR2     CC             BBB-/Watch Neg
M-8        25151XAS0     CC             BB-/Watch Neg
M-9        25151XAT8     CC             B/Watch Neg
M-10       25151XBC4     CC             CCC
A-3        25151XAH4     BB+            AAA
A-4        25151XAJ0     BB+            AAA

DSLA Mortgage Loan Trust 2006-AR1
Series 2006-AR1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1A-1B      23332UGL2     BBB-           AAA
2A-1C      23332UGP3     BBB-           AAA
M1         23332UGQ1     B              AA+/Watch Neg
M2         23332UGR9     CCC            AA/Watch Neg
M3         23332UGS7     CCC            A/Watch Neg
M4         23332UGT5     CCC            A/Watch Neg
M5         23332UGU2     CCC            BBB/Watch Neg
M6         23332UGV0     CCC            B/Watch Neg
M7         23332UGW8     CC             B/Watch Neg
M8         23332UGX6     CC             CCC
M9         23332UGY4     CC             CCC
M10        23332UGZ1     CC             CCC

DSLA Mortgage Loan Trust 2007-AR1
Series 2007-AR1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1A-1B      23333YAB1     BBB            AAA
2A-1C      23333YAE5     AA             AAA
M-1        23333YAF2     BB             AA+
M-2        23333YAG0     B              AA/Watch Neg
M-3        23333YAH8     CCC            A+/Watch Neg
M-4        23333YAJ4     CCC            A/Watch Neg
M-5        23333YAK1     CCC            BBB+/Watch Neg
M-6        23333YAL9     CCC            BBB/Watch Neg
M-7        23333YAM7     CCC            BBB-/Watch Neg
M-8        23333YAN5     CC             B/Watch Neg

GreenPoint Mortgage Funding Trust 2006-AR2
Series 2006-AR2
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
I-A-2      39538WGB8     BB             AAA
II-A-2     39538WGD4     BB             AAA
III-A-2    39538WGG7     AAA            AAA/Watch Neg
III-A-3    39538WGH5     BB             AAA/Watch Neg
IV-A-2     39538WGK8     AAA            AAA/Watch Neg
IV-A-3     39538WGL6     BB             AAA/Watch Neg
M-1        39538WGN2     CCC            AA/Watch Neg
M-2        39538WGP7     CCC            BBB/Watch Neg
M-3        39538WGQ5     CCC            BB/Watch Neg
B-1        39538WGR3     CC             B/Watch Neg
B-2        39538WGS1     CC             B/Watch Neg
B-3        39538WGT9     D              CCC

GreenPoint Mortgage Funding Trust 2006-AR3
Series 2006-AR3
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
I-A        39538WGZ5     A              AAA/Watch Neg
II-A-2     39538WHB7     AA             AAA
III-A-2    39538WHD3     A              AAA/Watch Neg
III-A-3    39538WHE1     A              AAA/Watch Neg
IV-A-3     39538WHH4     A              AAA/Watch Neg
B-1        39538WHK7     B              AA+/Watch Neg
B-2        39538WHL5     CCC            AA/Watch Neg
B-3        39538WHM3     CCC            AA-/Watch Neg
B-4        39538WHN1     CCC            A/Watch Neg
B-5        39538WHP6     CCC            A/Watch Neg
B-6        39538WHQ4     CC             BB/Watch Neg
B-7        39538WHR2     CC             BB/Watch Neg

GreenPoint Mortgage Funding Trust 2006-OH1
Series 2006-OH1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-3        39539GAC6     A              AAA/Watch Neg
M-1        39539GAD4     B              AA/Watch Neg
M-2        39539GAE2     CCC            AA-/Watch Neg
M-3        39539GAF9     CCC            A+/Watch Neg
M-4        39539GAG7     CCC            A/Watch Neg
M-5        39539GAH5     CC             BBB+/Watch Neg
M-6        39539GAJ1     CC             BBB/Watch Neg

GreenPoint Mortgage Funding Trust Series 2006-AR4
Series 2006-AR4
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A1-B       39539FAB0     AAA            AAA/Watch Neg
A2-B       39539FAD6     AA             AAA/Watch Neg
A3-B       39539FAF1     AA             AAA/Watch Neg
A4-B       39539FAH7     AA             AAA/Watch Neg
A5-A       39539FAJ3     AA             AAA/Watch Neg
A6-C       39539FAM6     AA             AAA/Watch Neg
M-1        39539FAN4     BB             A/Watch Neg
M-2        39539FAP9     B              BBB/Watch Neg
M-3        39539FAQ7     CCC            BB/Watch Neg
M-4        39539FAR5     CCC            B/Watch Neg
M-5        39539FAS3     CC             CCC
M-6        39539FAT1     CC             CCC

GreenPoint Mortgage Funding Trust Series 2006-AR5
Series 2006-AR5
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1-A1B      39538AAB2     A+             AAA/Watch Neg
1-A2B      39538AAF3     A              AAA/Watch Neg
1-A3B      39538AAK2     A              AAA/Watch Neg
1-A4       39538AAL0     A              AAA/Watch Neg
2-A        39538AAM8     A              AAA/Watch Neg
M1         39538AAN6     B              AA+/Watch Neg
M2         39538AAP1     CCC            AA/Watch Neg

GreenPoint Mortgage Funding Trust Series 2006-AR6
Series 2006-AR6
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1-A2BU     39538BAX2     BB             AAA/Watch Neg
1-A3BU     39538BAY0     BB             AAA/Watch Neg
2-A2       39538BAJ3     BB             AAA/Watch Neg
M1         39538BAK0     B              AA+/Watch Neg
M2         39538BAL8     CCC            AA/Watch Neg

GreenPoint Mortgage Funding Trust Series 2006-AR7  
Series 2006-AR7
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1-A1B      39538CAB8     BBB+           AAA
1-A3B      39538CAG7     AAA/Watch Neg  AAA
2-A2       39538CAJ1     BBB            AAA
M1         39538CAK8     B              BBB+
M2         39538CAL6     CCC            BBB

GreenPoint Mortgage Funding Trust, Series 2006-AR8
Series 2006-AR8
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1-A1B      39539HAB6     A              AAA/Watch Neg
1-A3B      39539HAE0     BBB            AAA/Watch Neg
2-A        39539HAF7     BBB            AAA
M1         39539HAG5     B              AA+/Watch Neg
M2         39539HAH3     CCC            AA/Watch Neg

GreenPoint Mortgage Funding Trust Series 2007-AR3
Series 2007-AR3
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A3         39539MAC3     A              AAA
M1         39539MAD1     B+             AA+
M2         39539MAE9     B              AA/Watch Neg
M3         39539MAF6     CCC            A+/Watch Neg
M4         39539MAG4     CCC            A/Watch Neg
M5         39539MAH2     CCC            BBB+/Watch Neg
M6         39539MAJ8     CCC            BBB-/Watch Neg

GSR Mortgage Loan Trust 2006-OA1
Series 2006-OA1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1-A-1      362631AA1     BB             AAA/Watch Neg
2-A-2      362631AC7     AA             AAA
2-A-3      362631AD5     BB             AAA/Watch Neg
3-A-2      362631AF0     BB             AAA/Watch Neg
M-1        362631AG8     B              AA+/Watch Neg
M-2        362631AH6     CCC            AA/Watch Neg
M-3        362631AJ2     CCC            A/Watch Neg
M-4        362631AK9     CCC            BBB/Watch Neg
M-5        362631AL7     CCC            BB/Watch Neg
M-6        362631AM5     CCC            BB/Watch Neg
M-7        362631AN3     CC             B/Watch Neg
M-8        362631AP8     CC             B/Watch Neg
M-9        362631AQ6     CC             CCC

GSR Mortgage Loan Trust 2007-OA1
Series 2007-OA1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1A-2       3622NAAB6     BB             AAA
2A-2       3622NAAD2     AA             AAA
2A-3B      3622NAAF7     AA             AAA
2A-4       3622NAAX8     AA             AAA
2A-M       3622NAAG5     BB             AAA/Watch Neg
M-1        3622NAAH3     B              AA+/Watch Neg
M-2        3622NAAJ9     CCC            AA/Watch Neg
M-3        3622NAAK6     CCC            AA-/Watch Neg
M-4        3622NAAL4     CCC            A/Watch Neg
M-5        3622NAAM2     CCC            BBB/Watch Neg
M-6        3622NAAN0     CCC            BBB-/Watch Neg
M-7        3622NAAP5     CCC            BB/Watch Neg

Harbor View Mortgage Loan Trust 2006-11
Series 2006-11
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-1B       41162GAB8     BBB-           AAA/Watch Neg
B-1        41162GAC6     B              AA+/Watch Neg
B-2        41162GAD4     CCC            AA+/Watch Neg
B-3        41162GAE2     CCC            AA/Watch Neg
B-4        41162GAF9     CCC            AA/Watch Neg
B-5        41162GAG7     CCC            A/Watch Neg
B-6        41162GAH5     CC             BB/Watch Neg
B-7        41162GAJ1     CC             B/Watch Neg

HarborView Mortgage Loan Trust 2006-BU1
Series 2006-BU1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1A-1B      41161PG64     AAA/Watch Neg  AAA
2A-1C      41161PG98     AAA/Watch Neg  AAA
M-1        41161PH22     BB             AA+/Watch Neg
M-2        41161PH30     B              AA/Watch Neg
M-3        41161PH48     CCC            AA-/Watch Neg
M-4        41161PH55     CCC            A+/Watch Neg
M-5        41161PH63     CCC            A/Watch Neg
M-6        41161PH71     CCC            A-/Watch Neg
M-7        41161PH89     CCC            BBB+/Watch Neg
M-8        41161PH97     CC             BBB/Watch Neg
M-9        41161PJ20     CC             BB+/Watch Neg

HarborView Mortgage Loan Trust 2006-SB1
Series 2006-SB1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-1B       41162BAB9     B              AAA/Watch Neg
M-1        41162BAC7     CCC            BBB/Watch Neg
M-2        41162BAD5     CCC            BB/Watch Neg
M-3        41162BAE3     CCC            B/Watch Neg
M-4        41162BAF0     CCC            B/Watch Neg
M-5        41162BAG8     CC             CCC
M-6        41162BAH6     CC             CCC
M-7        41162BAJ2     CC             CCC

HarborView Mortgage Loan Trust 2007-1
Series 2007-1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1A-1B      41164MAB3     AAA/Watch Neg  AAA/Watch Neg
2A-1B      41164MAD9     A              AAA
2A-1C1     41164MAE7     AAA/Watch Neg  AAA/Watch Neg
2A-1C2     41164MAP2     B              A
B-2        41164MAG2     CCC            BB
B-3        41164MAH0     CCC            B
B-4        41164MAJ6     CCC            B-

HarborView Mortgage Loan Trust 2007-2
Series 2007-2
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1A-1A      41164LAA7     B-             A/Watch Neg
2A-1B      41164LAC3     BBB            AAA
B-1        41164LAE9     CCC            BB/Watch Neg
B-2        41164LAF6     CCC            BB-/Watch Neg
B-3        41164LAG4     CCC            B/Watch Neg
B-5        41164LAJ8     CC             CCC
B-6        41164LAK5     CC             CCC

HarborView Mortgage Loan Trust 2007-3
Series 2007-3
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1A-1A      41164UAA7     B              AAA
2A-1B      41164UAC3     BB             AAA
2A-1C      41164UAD1     B              AAA/Watch Neg
B-2        41164UAF6     CCC            AA-/Watch Neg

IndyMac IMSC Mortgage Loan Trust 2007-HOA1
Series 2007-HOA1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-1-2      45670LAB3     AAA/Watch Neg  AAA
A-2-1      45670LAC1     AA             AAA
A-2-2      45670LAD9     BBB            AAA
A-2-3      45670LAE7     AAA/Watch Neg  AAA
A-2-4      45670LAF4     BBB            AAA
A-3        45670LAG2     AAA/Watch Neg  AAA
B-1        45670LAJ6     B              BBB+/Watch Neg
B-2        45670LAK3     CCC            BBB/Watch Neg
B-3        45670LAL1     CCC            BBB-/Watch Neg
B-4        45670LAM9     CCC            BB/Watch Neg
B-5        45670LAN7     CCC            B/Watch Neg

IndyMac INDX Mortgage Loan Trust 2006-AR12
Series 2006-AR12
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-3        45661VAC0     A              AAA/Watch Neg
M-1        45661VAD8     B              AA/Watch Neg
M-2        45661VAE6     CCC            A/Watch Neg
M-3        45661VAF3     CC             BBB/Watch Neg
M-4        45661VAG1     CC             BBB-/Watch Neg

IndyMac INDX Mortgage Loan Trust 2006-AR14
Series 2006-AR14
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1-A1B      45668GAB8     BB-            AAA/Watch Neg
1-A2AU     45668GAC6     BBB-           AAA
1-A3AU     45668GAD4     BBB-           AAA
1-A3BU     45668GAE2     B              AAA/Watch Neg
1-A4AU     45668GAF9     BBB-           AAA
2-A        45668GAG7     BB-            AAA/Watch Neg
M-1        45668GAH5     CCC            AA+/Watch Neg
M-2        45668GAJ1     CCC            AA/Watch Neg
M-3        45668GAK8     CCC            AA-/Watch Neg
M-4        45668GAL6     CCC            A+/Watch Neg
M-5        45668GAM4     CCC            A/Watch Neg
M-6        45668GAN2     CCC            A-/Watch Neg
M-7        45668GAP7     CCC            BBB+/Watch Neg
M-8        45668GAQ5     CC             BBB/Watch Neg
M-9        45668GAR3     CC             BBB-/Watch Neg

IndyMac INDX Mortgage Loan Trust 2006-AR2
Series 2006-AR2
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1-A-3A     45661EAD6     AA             AAA
1-A-3B     45661EAE4     AA             AAA
2-A-2      45661EAG9     AA             AAA
M-1        45661EAH7     BB             AA+
M-2        45661EAJ3     B              AA
M-3        45661EAK0     CCC            AA
M-4        45661EAL8     CCC            AA-
M-5        45661EAM6     CCC            A+
M-6        45661EAN4     CCC            A+
M-7        45661EAP9     CCC            A
M-8        45661EAQ7     CC             BBB+
M-9        45661EAU8     CC             BBB-

IndyMac INDX Mortgage Loan Trust 2006-AR8
Series 2006-AR8
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A2-A2      456618AT4     AAA            AAA/Watch Neg
A2-B       456618AE7     BB+            AAA/Watch Neg
A3-B       456618AG2     BB-            AAA/Watch Neg
A4-B       456618AJ6     BB-            AAA/Watch Neg
M-1        456618AK3     B-             AA+/Watch Neg
M-2        456618AL1     CCC            AA/Watch Neg
M-3        456618AM9     CCC            AA-/Watch Neg
M-4        456618AN7     CCC            A+/Watch Neg
M-5        456618AP2     CCC            A+/Watch Neg
M-6        456618AQ0     CCC            A/Watch Neg
M-7        456618AR8     CC             BBB+/Watch Neg
M-8        456618AS6     CC             BBB/Watch Neg
M-9        456618AX5     CC             BBB-/Watch Neg

IndyMac INDX Mortgage Loan Trust 2006-FLX1
Series 2006-FLX1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-3        45667WAC2     A              AAA
M-1        45667WAE8     BB             AA+
M-2        45667WAF5     B              AA
M-3        45667WAG3     CCC            AA-
M-4        45667WAH1     CCC            A+
M-5        45667WAJ7     CCC            BBB+
M-6        45667WAK4     CC             BBB-

IndyMac INDX Mortgage Loan Trust 2007-FLX1
Series 2007-FLX1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-5        45668WAE7     BB             AAA
M-1        45668WAJ6     B-             AA+/Watch Neg
M-2        45668WAK3     CCC            AA/Watch Neg
M-3        45668WAL1     CCC            A+/Watch Neg
M-4        45668WAM9     CCC            A/Watch Neg
M-5        45668WAN7     CCC            BBB/Watch Neg
M-6        45668WAP2     CCC            BBB-/Watch Neg

IndyMac INDX Mortgage Loan Trust 2007-FLX2
Series 2007-FLX2
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-3        45668RAE8     BBB            AAA
M-1        45668RAG3     B              AA/Watch Neg
M-2        45668RAH1     CCC            AA-/Watch Neg
M-3        45668RAJ7     CCC            A-/Watch Neg
M-4        45668RAK4     CCC            BBB/Watch Neg
M-5        45668RAL2     CC             BB+/Watch Neg
M-6        45668RAM0     CC             CCC

IndyMac INDX Mortgage Loan Trust 2007-FLX3
Series 2007-FLX3
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-3        45670AAC5     B              AAA/Watch Neg
M-1        45670AAE1     CCC            AA/Watch Neg
M-2        45670AAF8     CCC            AA-/Watch Neg
M-3        45670AAG6     CCC            A-/Watch Neg
M-4        45670AAH4     CCC            BBB/Watch Neg
M-5        45670AAJ0     CC             BB+/Watch Neg
M-6        45670AAK7     CC             BB/Watch Neg

IndyMac INDX Mortgage Loan Trust 2007-FLX4
Series 2007-FLX4
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1-A-2      456687AB8     B+             AAA
2-A-3      456687AE2     B              AAA
M-1        456687AF9     CCC            AA+/Watch Neg
M-2        456687AG7     CCC            AA/Watch Neg
M-3        456687AH5     CCC            AA-/Watch Neg
M-4        456687AJ1     CCC            A+/Watch Neg
M-5        456687AK8     CCC            A-/Watch Neg
M-6        456687AL6     CCC            BBB+/Watch Neg
M-7        456687AM4     CCC            BBB-/Watch Neg
M-8        456687AN2     CCC            BB+/Watch Neg
M-9        456687AP7     CC             CCC

IndyMac INDX Mortgage Loan Trust 2007-FLX5
Series 2007-FLX5
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1-A-2      45669WAB2     B              AAA
2-A-3      45669WAE6     B              AAA
M-1        45669WAF3     CCC            AA+
M-2        45669WAG1     CCC            AA
M-3        45669WAH9     CCC            AA-/Watch Neg
M-4        45669WAJ5     CCC            A/Watch Neg
M-5        45669WAK2     CCC            A-/Watch Neg
M-6        45669WAL0     CCC            BBB/Watch Neg
M-7        45669WAM8     CCC            BBB-/Watch Neg
M-8        45669WAN6     CCC            BB+/Watch Neg
M-9        45669WAP1     CCC            BB/Watch Neg

Lehman XS Trust Series 2007-12N
Series 2007-12N
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1-A1       52524YAA1     BB-            AAA
1-A2       52524YAB9     B              AAA
1-A3A      52524YAC7     A              AAA
1-A3B      52524YAD5     B              AAA
1-M1       52524YAN3     CCC            AA+/Watch Neg
1-M2       52524YAP8     CCC            AA/Watch Neg
1-M3       52524YAQ6     CCC            AA-/Watch Neg
1-M4       52524YAR4     CCC            A+/Watch Neg
1-M5       52524YAS2     CCC            A/Watch Neg
1-M6       52524YAT0     CCC            BBB+/Watch Neg
1-M7       52524YAU7     CCC            BBB/Watch Neg
1-M8       52524YAV5     CCC            BBB-/Watch Neg
1-M9       52524YAW3     CC             BB+/Watch Neg
2-A2       52524YAG8     BBB-           AAA
2-A3       52524YAH6     B              AAA
2-M1       52524YAX1     CCC            AA+/Watch Neg
2-M2       52524YAY9     CCC            AA/Watch Neg
2-M3       52524YAZ6     CCC            AA-/Watch Neg
2-M4       52524YBA0     CCC            A+/Watch Neg
2-M5       52524YBB8     CCC            A/Watch Neg
2-M6       52524YBC6     CCC            BBB/Watch Neg
2-M7       52524YBD4     CC             BB+/Watch Neg
2-M8       52524YBE2     CC             B+/Watch Neg
3-A3       52524YAM5     AA-            AAA
3-M1       52524YBG7     BBB            AA+
3-M2       52524YBH5     BB+            AA
3-M3       52524YBJ1     BB             AA-
3-M4       52524YBK8     BB-            A+
3-M5       52524YBL6     B+             A/Watch Neg
3-M6       52524YBM4     B              BBB+/Watch Neg
3-M7       52524YBN2     B-             BBB/Watch Neg

Lehman XS Trust Series 2007-2N
Series 2007-2N
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1-A1B      52524LAB7     BB             AAA/Watch Neg
2-A        52524LAD3     BB             AAA
3-A1       52524LAE1     BBB-           AAA
3-A2       52524LAF8     BB             AAA
3-A3       52524LAG6     BB             AAA
M1         52524LAJ0     B              AA+/Watch Neg
M2         52524LAK7     B-             AA/Watch Neg
M3         52524LAL5     CCC            AA-/Watch Neg
M4         52524LAM3     CCC            A+/Watch Neg
M5         52524LAN1     CCC            A/Watch Neg
M6         52524LAP6     CCC            A-/Watch Neg
M7         52524LAQ4     CCC            BBB+/Watch Neg
M8         52524LAR2     CCC            BBB+/Watch Neg
M9         52524LAS0     CCC            BBB-/Watch Neg
M10        52524LAT8     CCC            BB+/Watch Neg
M11        52524LAU5     CC             BB/Watch Neg
M12        52524LAV3     CC             BB-/Watch Neg

Lehman XS Trust Series 2007-4N
Series 2007-4N
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1-A1       52524HAA8     B+             AAA/Watch Neg
1-A2B      52524HAC4     B              AAA/Watch Neg
1-A3       52524HAD2     B              AAA/Watch Neg
2-A        52524HAF7     B+             AAA
3-A1A      52524HAH3     AA-            AAA
3-A2B      52524HAK6     AA-            AAA
3AC        52524HAL4     B+             AAA/Watch Neg
M1         52524HAN0     B-             AA+/Watch Neg
M2         52524HAP5     CCC            AA/Watch Neg
M3         52524HAQ3     CCC            AA-/Watch Neg
M4         52524HAR1     CCC            A+/Watch Neg
M5         52524HAS9     CCC            A/Watch Neg
M6         52524HAT7     CCC            A-/Watch Neg
M7         52524HAU4     CCC            BBB+/Watch Neg
M8         52524HAV2     CCC            BB/Watch Neg
M9         52524HAW0     CCC            BB-/Watch Neg
M10        52524HAX8     CC             CCC
M11        52524HAY6     CC             CCC

Lehman XS Trust Series 2007-7N
Series 2007-7N
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1-A3       52524GAW2     BBB-           AAA
2-A1B      52524GAJ1     AA             AAA
2-A2B      52524GAL6     AA             AAA
M1         52524GAM4     BB             AA+/Watch Neg
M2         52524GAN2     B              AA/Watch Neg
M3         52524GAP7     B-             AA-/Watch Neg
M4         52524GAQ5     CCC            A+/Watch Neg
M5         52524GAR3     CCC            A/Watch Neg
M6         52524GAS1     CCC            BBB+/Watch Neg
M7         52524GAT9     CCC            BBB/Watch Neg
M8         52524GAU6     CCC            B/Watch Neg

Luminent Mortgage Trust 2006-1
Series 2006-1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A3         550279AP8     BB             AAA/Watch Neg
M          550279AS2     CCC            B/Watch Neg
B4         550279AW3     D              CC

Luminent Mortgage Trust 2006-2
Series 2006-2
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A1C        550279BC6     B              AAA
B-1        550279BG7     CCC            B/Watch Neg

Luminent Mortgage Trust 2006-4
Series 2006-4
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A1B        55027BAB4     AA             AAA
A1C        55027BAC2     B              BBB/Watch Neg
PO         55027BAE8     AAA            AAA/Watch Neg
B-1        55027BAG3     CCC            BB/Watch Neg
B-2        55027BAH1     CCC            B/Watch Neg

Luminent Mortgage Trust 2006-5
Series 2006-5
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A1B        55027XAB6     AA             AAA
A1C        55027XAC4     B              AAA/Watch Neg
B-1        55027XAG5     CCC            BBB/Watch Neg
B-5        55027XAL4     D              CC
PO         55027XAE0     AAA            AAA/Watch Neg

Luminent Mortgage Trust 2006-7
Series 2006-7
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
I-A-2      55028BAB3     AAA            AAA/Watch Neg
I-B-1      55028BAC1     B              AA/Watch Neg
I-B-2      55028BAD9     CCC            A/Watch Neg
I-B-3      55028BAE7     CC             BBB/Watch Neg
I-B-4      55028BAF4     CC             BBB-/Watch Neg
II-A-3     55028BAJ6     BB             AAA/Watch Neg
II-B-1     55028BAK3     B              AA+/Watch Neg
II-B-2     55028BAL1     B-             AA/Watch Neg
II-B-3     55028BAM9     CCC            AA-/Watch Neg
II-B-4     55028BAN7     CCC            A+/Watch Neg
II-B-5     55028BAP2     CCC            A/Watch Neg
II-B-6     55028BAQ0     CC             A-/Watch Neg
II-B-7     55028BAR8     CC             BBB+/Watch Neg
II-B-8     55028BAS6     CC             BBB/Watch Neg

Merrill Lynch Alternative Note Asset Trust Series 2007-OAR1
Series 2007-OAR1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-3        59023TAC9     A              AAA/Watch Neg
M-1        59023TAD7     BBB-           AA+/Watch Neg
M-2        59023TAE5     BB             AA/Watch Neg
M-3        59023TAF2     BB-            AA-/Watch Neg
M-4        59023TAG0     B              A+/Watch Neg
M-5        59023TAH8     B-             A-/Watch Neg
M-6        59023TAJ4     CCC            BBB/Watch Neg
B-1        59023TAK1     CCC            BB+/Watch Neg
B-2        59023TAL9     CCC            B/Watch Neg

Merrill Lynch Alternative Note Asset Trust Series 2007-OAR2
Series 2007-OAR2
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-3        59024BAC7     BBB            AAA
M-1        59024BAD5     BB             AA+/Watch Neg
M-2        59024BAE3     BB-            AA/Watch Neg
M-3        59024BAF0     B+             AA-/Watch Neg
M-4        59024BAG8     B              A+/Watch Neg
M-5        59024BAH6     B-             A/Watch Neg
M-6        59024BAJ2     CCC            BBB+/Watch Neg
B-1        59024BAK9     CCC            BBB-/Watch Neg
B-2        59024BAL7     CCC            BB/Watch Neg
B-3        59024BAM5     CCC            B/Watch Neg

Merrill Lynch Alternative Note Asset Trust, Series 2007-OAR3
Series 2007-OAR3
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-2        59024JAB2     BBB            AAA
A-3        59024JAC0     B              AAA/Watch Neg
M-1        59024JAD8     CCC            AA+/Watch Neg
M-2        59024JAE6     CCC            A/Watch Neg
M-3        59024JAF3     CCC            BBB+/Watch Neg
M-4        59024JAG1     CCC            BBB/Watch Neg
M-5        59024JAH9     CCC            BB+/Watch Neg
M-6        59024JAJ5     CCC            BB/Watch Neg
B-1        59024JAK2     CCC            BB-/Watch Neg
B-2        59024JAL0     CCC            B/Watch Neg

MortgageIT Mortgage Loan Trust 2006-1
Series 2006-1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1-A1       61915RBY1     AAA            AAA/Watch Neg
1-A2       61915RBZ8     AAA            AAA/Watch Neg
1-X        61915RCC8     AAA            AAA/Watch Neg
2-A1A      61915RCJ3     AAA            AAA/Watch Neg
2-A1B      61915RCK0     AAA            AAA/Watch Neg
2-A1C      61915RCL8     BB             AAA/Watch Neg
2-X        61915RCT1     AAA            AAA/Watch Neg
2-X-B      61915RCU8     AAA            AAA/Watch Neg
2-PO       61915RCV6     AAA            AAA/Watch Neg
2-PO-B     61915RCW4     AAA            AAA/Watch Neg
1-B4       61915RCF1     D              CC

RALI Series 2006 QO6
Series 2006-Q06
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-3        75114NAC8     B              AAA/Watch Neg
M-1        75114NAD6     CCC            BB
M-2        75114NAE4     CCC            B
M-3        75114NAF1     CCC            B
M-4        75114NAG9     CCC            B
M-7        75114NAK0     CC             CCC

RALI Series 2006-QH1 Trust
Series 2006-QH1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-3        75115GAC2     AA             AAA
M-1        75115GAD0     CCC            BB/Watch Neg
M-2        75115GAE8     CCC            B/Watch Neg
M-3        75115GAF5     CC             CCC
M-4        75115GAG3     CC             CCC

RALI Series 2006-QO1 Trust
Series 2006-QO1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1-A-2      761118RH3     BBB-           BBB-/Watch Neg
2-A-2      761118RK6     AAA            AAA/Watch Neg
2-A-3      761118RL4     BB+            BBB-/Watch Neg
3-A-3      761118RP5     BB             BBB-/Watch Neg
M-1        761118RQ3     B              BB/Watch Neg
M-2        761118RR1     CCC            B/Watch Neg
B-2        761118SV1     D              CC

RALI Series 2006-QO10 Trust
Series 2006-QO10
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-3        751153AC1     B              AAA/Watch Neg
M-1        751153AD9     CCC            BBB/Watch Neg
M-2        751153AE7     CCC            BB/Watch Neg
M-3        751153AF4     CCC            B/Watch Neg
M-4        751153AG2     CCC            B/Watch Neg
M-5        751153AH0     CCC            B/Watch Neg
M-6        751153AJ6     CC             B/Watch Neg
M-7        751153AK3     CC             B/Watch Neg
M-8        751153AL1     CC             CCC

RALI Series 2006-QO2 Trust
Series 2006-QO2
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-3        761118WA2     A              AAA/Watch Neg
M-1        761118WB0     BB             AA+/Watch Neg
M-2        761118WC8     B              AA/Watch Neg
M-3        761118WD6     CCC            AA-/Watch Neg
M-4        761118WE4     CCC            A+/Watch Neg
M-5        761118WF1     CCC            A/Watch Neg
M-6        761118WG9     CCC            A-/Watch Neg
M-7        761118WH7     CC             BB/Watch Neg
M-8        761118WJ3     CC             B/Watch Neg

RALI Series 2006-QO3 Trust
Series 2006-QO3
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-3        761118WR5     BB             AAA/Watch Neg
M-1        761118WS3     B-             AA+/Watch Neg
M-2        761118WT1     CCC            AA/Watch Neg
M-3        761118WU8     CCC            AA-/Watch Neg
M-4        761118WV6     CCC            A+/Watch Neg
M-5        761118WW4     CCC            A+/Watch Neg
M-6        761118WX2     CC             A/Watch Neg
M-7        761118WY0     CC             BBB+/Watch Neg
M-8        761118WZ7     CC             BB/Watch Neg

RALI Series 2006-QO4 Trust
Series 2006-QO4
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
I-A-2      75114GAB5     BBB-           AAA
II-A-3     75114GAE9     BBB-           AAA
M-1        75114GAF6     CCC            AA+/Watch Neg
M-2        75114GAG4     CCC            A/Watch Neg
M-3        75114GAH2     CCC            A-/Watch Neg
M-4        75114GAJ8     CCC            BBB/Watch Neg
M-5        75114GAK5     CCC            BBB-/Watch Neg
M-6        75114GAL3     CCC            BB/Watch Neg
M-7        75114GAM1     CC             BB/Watch Neg
M-8        75114GAN9     CC             B/Watch Neg
M-9        75114GAP4     CC             CCC

RALI Series 2006-QO7 Trust
Series 2006-QO7
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
I-A-2      751150AB9     BB             AAA
I-A-3      751150AC7     B              A/Watch Neg
II-A-2     751150AE3     BB             AAA
II-A-3     751150AF0     B              A/Watch Neg
III-A-2    751150AH6     BB             AAA
III-A-3    751150AJ2     BB             AAA
III-A-4    751150AK9     B              A/Watch Neg
M-1        751150AS2     CCC            B/Watch Neg

RALI Series 2006-QO8 Trust
Series 2006-QO8
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
I-A1AU     75115FAU4     A              AAA
I-A1B      75115FAB6     B              AAA/Watch Neg
I-A2AU     75115FAV2     A              AAA
I-A3B      75115FAE0     B              AAA/Watch Neg
I-A4A      75115FAQ3     A              AAA
I-A4B      75115FAR1     B              AAA/Watch Neg
I-A5AU     75115FAW0     A              AAA
II-A       75115FAT7     B              AAA/Watch Neg
M-1        75115FAF7     CCC            AA/Watch Neg
M-2        75115FAG5     CCC            BBB/Watch Neg
M-3        75115FAH3     CCC            BBB/Watch Neg
M-4        75115FAJ9     CCC            B/Watch Neg
M-5        75115FAK6     CCC            BBB-/Watch Neg
M-6        75115FAL4     CC             B/Watch Neg
M-7        75115FAM2     CC             CCC

RALI Series 2006-QO9 Trust
Series 2006-QO9
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
I-A1BU     75115HAW6     B              AAA/Watch Neg
I-A2AU     75115HAX4     A              AAA/Watch Neg
I-A3AU     75115HAY2     A              AAA/Watch Neg
I-A3BU     75115HAZ9     B              AAA/Watch Neg
I-A4AU     75115HBA3     A              AAA/Watch Neg
II-A       75115HAB2     B              AAA/Watch Neg
M-1        75115HAC0     CCC            AA/Watch Neg
M-2        75115HAD8     CCC            BBB/Watch Neg
M-3        75115HAE6     CCC            BB/Watch Neg
M-4        75115HAF3     CCC            B/Watch Neg
M-5        75115HAG1     CCC            B/Watch Neg
M-6        75115HAH9     CC             B/Watch Neg
M-7        75115HAJ5     CC             B/Watch Neg
M-8        75115HAK2     CC             CCC
M-9        75115HAL0     CC             CCC

RALI Series 2007-QH1 Trust
Series 2007-QH1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-2        74922HAB8     AA             AAA
A-3        74922HAC6     B              AAA/Watch Neg
M-1        74922HAD4     CCC            AA/Watch Neg
M-2        74922HAE2     CCC            AA-/Watch Neg
M-3        74922HAF9     CCC            A-/Watch Neg
M-4        74922HAG7     CC             BBB/Watch Neg
M-5        74922HAH5     CC             BB+/Watch Neg

RALI Series 2007-QH2 Trust
Series 2007-QH2
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-2        74922JAB4     AA             AAA
A-3        74922JAC2     B              AAA/Watch Neg
M-1        74922JAD0     CCC            AA/Watch Neg
M-2        74922JAE8     CCC            AA-/Watch Neg
M-3        74922JAF5     CCC            A+/Watch Neg
M-4        74922JAG3     CCC            BBB+/Watch Neg
M-5        74922JAH1     CC             BBB-/Watch Neg
M-6        74922JAJ7     CC             BB/Watch Neg

RALI Series 2007-QH3 Trust
Series 2007-QH3
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-2        74922WAB5     AA             AAA
A-3        74922WAC3     B              AAA/Watch Neg
M-1        74922WAD1     CCC            AA+/Watch Neg
M-2        74922WAE9     CCC            AA/Watch Neg
M-3        74922WAF6     CCC            AA-/Watch Neg
M-4        74922WAG4     CCC            A+/Watch Neg
M-5        74922WAH2     CCC            A/Watch Neg
M-6        74922WAJ8     CCC            BBB-/Watch Neg
M-7        74922WAK5     CC             CCC
M-8        74922WAL3     CC             CCC

RALI Series 2007-QH4 Trust
Series 2007-QH4
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-2        74922TAB2     AA             AAA
A-3        74922TAC0     B              AAA/Watch Neg
M-1        74922TAD8     CCC            AA+/Watch Neg
M-2        74922TAE6     CCC            AA/Watch Neg
M-3        74922TAF3     CCC            AA-/Watch Neg
M-4        74922TAG1     CCC            A+/Watch Neg
M-5        74922TAH9     CCC            BBB+/Watch Neg
M-6        74922TAJ5     CCC            BBB-/Watch Neg
M-7        74922TAK2     CC             BB/Watch Neg
M-8        74922TAL0     CC             BB-/Watch Neg
B          74922TAM8     CC             B/Watch Neg

RALI Series 2007-QH5 Trust
Series 2007-QH5
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-I-2      75116EAB8     AA             AAA
A-I-3      75116EAC6     B              AAA/Watch Neg
A-II       75116EAD4     B              AAA/Watch Neg
M-1        75116EAE2     CCC            AA+/Watch Neg
M-2        75116EAF9     CCC            AA/Watch Neg
M-3        75116EAG7     CCC            A+/Watch Neg
M-4        75116EAH5     CCC            BBB+/Watch Neg
M-5        75116EAJ1     CC             BBB/Watch Neg
M-6        75116EAK8     CC             BB+/Watch Neg
M-7        75116EAL6     CC             CCC

RALI Series 2007-QH6 Trust
Series 2007-QH6
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-2        74922AAB3     AA             AAA
A-3        74922AAC1     B              AAA/Watch Neg
M-1        74922AAD9     CCC            AA+/Watch Neg
M-2        74922AAE7     CCC            AA/Watch Neg
M-3        74922AAF4     CCC            A+/Watch Neg
M-4        74922AAG2     CCC            A/Watch Neg
M-5        74922AAH0     CCC            BBB/Watch Neg
M-6        74922AAJ6     CC             BB/Watch Neg
M-7        74922AAK3     CC             B/Watch Neg
M-8        74922AAL1     CC             CCC

RALI Series 2007-QO1 Trust
Series 2007-QO1
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-2        75115YAB5     A              AAA
A-3        75115YAC3     BB             AAA/Watch Neg
M-1        75115YAD1     B              AA+/Watch Neg
M-2        75115YAE9     CCC            AA/Watch Neg
M-3        75115YAF6     CCC            AA-/Watch Neg
M-4        75115YAG4     CCC            A+/Watch Neg
M-5        75115YAH2     CCC            A/Watch Neg
M-6        75115YAJ8     CCC            BBB-/Watch Neg
M-7        75115YAK5     CC             B/Watch Neg
M-8        75115YAL3     CC             CCC
M-9        75115YAM1     CC             CCC

RALI Series 2007-QO2 Trust
Series 2007-QO2
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-2        75116AAB6     A              AAA
A-3        75116AAC4     B              AAA/Watch Neg
M-1        75116AAD2     CCC            AA+/Watch Neg
M-2        75116AAE0     CCC            AA/Watch Neg
M-3        75116AAF7     CCC            AA-/Watch Neg
M-4        75116AAG5     CCC            A+/Watch Neg
M-5        75116AAH3     CCC            A-/Watch Neg
M-6        75116AAJ9     CCC            BBB-/Watch Neg
M-7        75116AAK6     CC             B/Watch Neg
M-8        75116AAL4     CC             CCC
M-9        75116AAM2     CC             CCC

RALI Series 2007-QO3 Trust
Series 2007-QO3
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-3        74923TAC9     BB             AAA
M-1        74923TAD7     B              AA+/Watch Neg
M-2        74923TAE5     CCC            AA/Watch Neg
M-3        74923TAF2     CCC            AA-/Watch Neg
M-4        74923TAG0     CCC            A+/Watch Neg
M-5        74923TAH8     CCC            A/Watch Neg
M-6        74923TAJ4     CCC            A-/Watch Neg
M-7        74923TAK1     CCC            BBB+/Watch Neg
M-8        74923TAL9     CC             BBB/Watch Neg
M-9        74923TAM7     CC             BB+/Watch Neg

RALI Series 2007-QO4 Trust
Series 2007-QO4
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
A-2        74923LAC6     AA             AAA
A-3        74923LAD4     BB             AAA/Watch Neg
M-1        74923LAE2     B              AA+/Watch Neg
M-2        74923LAF9     CCC            AA/Watch Neg
M-3        74923LAG7     CCC            AA-/Watch Neg
M-4        74923LAH5     CCC            A+/Watch Neg
M-5        74923LAJ1     CCC            A-/Watch Neg
M-6        74923LAK8     CCC            A-/Watch Neg
M-8        74923LAM4     CC             BB/Watch Neg
M-9        74923LAN2     CC             BB-/Watch Neg
M-7        74923LAL6     CC             BB+/Watch Neg

Structured Asset Mortgage Investments II Trust 2006-AR5
Series 2006-AR5
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
1-A-3      86360JAC5     AAA            AAA/Watch Neg
2-A-3      86360JAG6     AA             AAA/Watch Neg
2-X        86360JAH4     AAA            AAA/Watch Neg
3-A-3      86360JAL5     BBB            AAA/Watch Neg
3-X        86360JAM3     AAA            AAA/Watch Neg
4-A-3      86360JAQ4     A              AAA/Watch Neg
4-X        86360JAR2     AAA            AAA/Watch Neg
B-1        86360JAT8     B              BB
B-2        86360JAU5     B-             B
B-3        86360JAV3     CCC            B

WaMu Mortgage Pass-Through Certificates Series 2006-AR17 Trust
Series 2006-AR17
                              Rating
                              ------
Class      CUSIP         To             From
-----      -----         --             ----
CA-1C      92925DAF7     BB             AAA/Watch Neg
1X-PPP     92925DAG5     AAA            AAA/Watch Neg
2X-PPP     92925DAH3     AAA            AAA/Watch Neg
B-1        92925DAJ9     CCC            AA+/Watch Neg
B-2        92925DAK6     CCC            AA/Watch Neg
B-3        92925DAL4     CCC            AA-/Watch Neg
B-4        92925DAM2     CCC            A+/Watch Neg
B-5        92925DAN0     CCC            A/Watch Neg
B-6        92925DAP5     CCC            A-/Watch Neg
B-7        92925DAQ3     CCC            BBB+/Watch Neg
B-8        92925DAR1     CC             BBB/Watch Neg
B-9        92925DAS9     CC             BBB-/Watch Neg

                         Ratings Affirmed

American Home Mortgage Assets Trust 2006-1
Series 2006-1

Class      CUSIP         Rating
-----      -----         ------
1A2        02660WAB2     AAA
1A3        02660WAT3     AAA
2A1        02660WAC0     AAA
2A2        02660WAD8     AAA
2A3        02660WAE6     A
X-A        02660WAQ9     AAA
X-B        02660WAR7     AAA
X-C        02660WAS5     AAA

American Home Mortgage Assets Trust 2006-3
Series 2006-3

Class      CUSIP         Rating
-----      -----         ------
I-A-1      02660UAA8     AAA
I-A-2-1    02660UAB6     AAA
I-A-2-2    02660UAC4     AAA
II-A-1-1   02660UAE0     AAA
II-A-1-2   02660UAF7     AAA
II-A-2     02660UAG5     AAA
III-A-1-1  02660UAK6     AAA
III-A-1-2  02660UAL4     AAA
III-A-2    02660UAM2     AAA

American Home Mortgage Assets Trust 2006-5
Series 2006-5

Class      CUSIP         Rating
-----      -----         ------
A-1        02660KAA0     AAA

American Home Mortgage Assets Trust 2006-6
Series 2006-6

Class      CUSIP         Rating
-----      -----         ------
A1-A       008684AA0     AAA
A1-B       008684AB8     AAA
A2-A       008684AD4     AAA
X-P        008684AF9     BBB

American Home Mortgage Assets Trust 2007-1
Series 2007-1

Class      CUSIP         Rating
-----      -----         ------
A-1        02660BAA0     AAA

American Home Mortgage Assets Trust 2007-2
Series 2007-2

Class      CUSIP         Rating
-----      -----         ------
A-1        026930AA5     AAA

American Home Mortgage Assets Trust 2007-4
Series 2007-4

Class      CUSIP         Rating
-----      -----         ------
A1         026934AA7     AAA

American Home Mortgage Assets Trust 2007-5
Series 2007-5

Class      CUSIP         Rating
-----      -----         ------
A-1        026936AA2     AAA
A-2        026936AC8     AAA
X-P        026936AU8     AAA

American Home Mortgage Investment Trust 2006-1
Series 2006-1

Class      CUSIP         Rating
-----      -----         ------
I-1A-1     02660THY2     AAA
I-2A-1     02660TJB0     AAA
I-A-2      02660THZ9     AAA
II-A-1     02660TJE4     AAA
II-A-3     02660TJG9     AAA

American Home Mortgage Investment Trust 2007-1
Series 2007-1

Class      CUSIP         Rating
-----      -----         ------
A-1-A      026932AA1     AAA
A-1-B      026932AB9     AAA
A-1-C      026932AC7     AAA
IO-P       026932AF0     AAA

Banc of America Funding 2006-I Trust
Series 2006-I

Class      CUSIP         Rating
-----      -----         ------
1-A-1      05951VAA7     AAA
1-A-2      05951VAB5     AAA
2-A-1      05951VAD1     AAA
2-A-2      05951VAE9     AAA
S-B-1      05951VAN9     AA
S-B-2      05951VAP4     A
S-B-3      05951VAQ2     BBB+
S-B-5      05951VBE8     BB
3-A-1      05951VAF6     AAA
5-A-1      05951VAJ8     AAA
5-A-2      05951VAK5     AAA
5-A-3      05951VAL3     AAA
6-A-1      05951VAV1     AAA

Bear Stearns Mortgage Funding Trust 2006-AR4
Series 2006-AR4

Class      CUSIP         Rating
-----      -----         ------
A-1        07401JAA6     AAA

Bear Stearns Mortgage Funding Trust 2007-AR4
Series 2007-AR4

Class      CUSIP         Rating
-----      -----         ------
I-A-1      07401YAA3     AAA
I-A-2      07401YAB1     AAA
I-X-1      07401YAD7     AAA
I-X-2      07401YAE5     AAA
II-A-1     07401YAQ8     AAA
II-A-2A    07401YAR6     AAA
II-B-5     07401YAY1     CCC

CHL Mortgage Pass-Through Trust 2006-OA5
Series 2006-OA5

Class      CUSIP         Rating
-----      -----         ------
1A1        126694M62     AAA
1A2        126694M70     AAA
1A3        126694M88     AAA
2A1        126694M96     AAA
2A2        126694N20     AAA
2A3        126694N38     AAA
X          126694N79     AAA
3A1        126694N46     AAA
3A2        126694N53     AAA
3A3        126694N61     AAA

Deutsche Alt-A Securities Mortgage Loan Trust, Series 2007-OA3
Series 2007-OA3

Class      CUSIP         Rating
-----      -----         ------
A-1        25150WAA2     AAA
A-2        25150WAB0     AAA

Deutsche Alt-A Securities Mortgage Loan Trust, Series 2007-OA4
Series 2007-OA4

Class      CUSIP         Rating
-----      -----         ------
I-A-1A     25151XAA9     AAA
I-A-1B     25151XAB7     AAA
II-A-1     25151XAC5     AAA
III-A-1    25151XAE1     AAA
A-2A       25151XAF8     AAA
A-2B       25151XAG6     AAA

DSLA Mortgage Loan Trust 2006-AR1
Series 2006-AR1

Class      CUSIP         Rating
-----      -----         ------
1A-1A      23332UGK4     AAA
2A-1A      23332UGM0     AAA
2A-1B      23332UGN8     AAA

DSLA Mortgage Loan Trust 2007-AR1
Series 2007-AR1

Class      CUSIP         Rating
-----      -----         ------
1A-1A      23333YAA3     AAA
2A-1A      23333YAC9     AAA
2A-1B      23333YAD7     AAA

GreenPoint Mortgage Funding Trust 2006-AR2
Series 2006-AR2

Class      CUSIP         Rating
-----      -----         ------
I-A-1      39538WGA0     AAA
II-A-1     39538WGC6     AAA
II-X       39538WGE2     AAA
III-A-1    39538WGF9     AAA
IV-A-1     39538WGJ1     AAA
IV-X       39538WGM4     AAA

GreenPoint Mortgage Funding Trust 2006-AR3
Series 2006-AR3

Class      CUSIP         Rating
-----      -----         ------
II-A-1     39538WHA9     AAA
III-A-1    39538WHC5     AAA
IV-A-1     39538WHF8     AAA
IV-A-2     39538WHG6     AAA
IV-X       39538WHJ0     AAA

GreenPoint Mortgage Funding Trust 2006-OH1
Series 2006-OH1

Class      CUSIP         Rating
-----      -----         ------
A-1        39539GAA0     AAA
A-2        39539GAB8     AAA

GreenPoint Mortgage Funding Trust Series 2006-AR4
Series 2006-AR4

Class      CUSIP         Rating
-----      -----         ------
A1-A       39539FAA2     AAA
A2-A       39539FAC8     AAA
A3-A       39539FAE4     AAA
A4-A       39539FAG9     AAA
A6-A       39539FAK0     AAA
A6-B       39539FAL8     AAA

GreenPoint Mortgage Funding Trust Series 2006-AR5
Series 2006-AR5

Class      CUSIP         Rating
-----      -----         ------
1-A1A      39538AAA4     AAA
1-A2A1     39538AAC0     AAA
1-A2A2U    39538AAE6     AAA
1-A3A1     39538AAG1     AAA
1-A3A2     39538AAJ5     AAA

GreenPoint Mortgage Funding Trust Series 2006-AR6
Series 2006-AR6

Class      CUSIP         Rating
-----      -----         ------
1-A1AU     39538BAV6     AAA
1-A2A1     39538BAB0     AAA
1-A2A2U    39538BAW4     AAA
1-A3A      39538BAE4     AAA
1-A4       39538BAG9     AAA
2-A1       39538BAH7     AAA

GreenPoint Mortgage Funding Trust Series 2006-AR7
Series 2006-AR7

Class      CUSIP         Rating
-----      -----         ------
1-A1A      39538CAA0     AAA
1-A2A1     39538CAC6     AAA
1-A2A2     39538CAD4     AAA
1-A3A1     39538CAE2     AAA
1-A3A2     39538CAF9     AAA
2-A1       39538CAH5     AAA

GreenPoint Mortgage Funding Trust Series 2006-AR8
Series 2006-AR8

Class      CUSIP         Rating
-----      -----         ------
1-A1A      39539HAA8     AAA
1-A2A      39539HAC4     AAA
1-A3A      39539HAD2     AAA

GreenPoint Mortgage Funding Trust Series 2007-AR3
Series 2007-AR3

Class      CUSIP         Rating
-----      -----         ------
A1         39539MAA7     AAA
A2         39539MAB5     AAA
1-AP       39539MAN9     AAA

GSR Mortgage Loan Trust 2006-OA1
Series 2006-OA1

Class      CUSIP         Rating
-----      -----         ------
2-A-1      362631AB9     AAA
3-A-1      362631AE3     AAA

GSR Mortgage Loan Trust 2007-OA1
Series 2007-OA1

Class      CUSIP         Rating
-----      -----         ------
1A-1       3622NAAA8     AAA
2A-1       3622NAAC4     AAA
2A-3A      3622NAAE0     AAA

Harbor View Mortgage Loan Trust 2006-11
Series 2006-11

Class      CUSIP         Rating
-----      -----         ------
A-1A       41162GAA0     AAA

HarborView Mortgage Loan Trust 2006-BU1
Series 2006-BU1

Class      CUSIP         Rating
-----      -----         ------
1A-1A      41161PG56     AAA
2A-1A      41161PG72     AAA
2A-1B      41161PG80     AAA

HarborView Mortgage Loan Trust 2006-SB1
Series 2006-SB1

Class      CUSIP         Rating
-----      -----         ------
A-1A       41162BAA1     AAA

HarborView Mortgage Loan Trust 2007-1
Series 2007-1

Class      CUSIP         Rating
-----      -----         ------
1A-1A      41164MAA5     AAA
2A-1A      41164MAC1     AAA

HarborView Mortgage Loan Trust 2007-2
Series 2007-2

Class      CUSIP         Rating
-----      -----         ------
2A-1A      41164LAB5     AAA
2A-1C      41164LAD1     AA

HarborView Mortgage Loan Trust 2007-3
Series 2007-3

Class      CUSIP         Rating
-----      -----         ------
2A-1A      41164UAB5     AAA

IndyMac IMSC Mortgage Loan Trust 2007-HOA1
Series 2007-HOA1

Class      CUSIP         Rating
-----      -----         ------
A-1-1      45670LAA5     AAA

IndyMac INDX Mortgage Loan Trust 2006-AR12
Series 2006-AR12

Class      CUSIP         Rating
-----      -----         ------
A-1        45661VAA4     AAA
A-2        45661VAB2     AAA

IndyMac INDX Mortgage Loan Trust 2006-AR14
Series 2006-AR14

Class      CUSIP         Rating
-----      -----         ------
1-A1AU     45668GAA0     AAA
1-AX       45668GAX0     AAA
2-AX       45668GAY8     AAA

IndyMac INDX Mortgage Loan Trust 2006-AR2
Series 2006-AR2

Class      CUSIP         Rating
-----      -----         ------
1-A-1A     45661EAA2     AAA
1-A-1B     45661EAB0     AAA
1-A-2      45661EAC8     AAA
2-A-1      45661EAF1     AAA

IndyMac INDX Mortgage Loan Trust 2006-AR8
Series 2006-AR8

Class      CUSIP         Rating
-----      -----         ------
A2-A1      456618AC1     AAA
A2-A3      456618AD9     AAA
A3-A       456618AF4     AAA
A4-A       456618AH0     AAA

IndyMac INDX Mortgage Loan Trust 2006-FLX1
Series 2006-FLX1

Class      CUSIP         Rating
-----      -----         ------
A-1        45667WAA6     AAA
A-2        45667WAB4     AAA

IndyMac INDX Mortgage Loan Trust 2007-FLX1
Series 2007-FLX1

Class      CUSIP         Rating
-----      -----         ------
A-1        45668WAA5     AAA
A-2        45668WAB3     AAA
A-3        45668WAC1     AAA
A-4        45668WAD9     AAA

IndyMac INDX Mortgage Loan Trust 2007-FLX2
Series 2007-FLX2

Class      CUSIP         Rating
-----      -----         ------
A-1-A      45668RAA6     AAA
A-1-B      45668RAB4     AAA
A-1-C      45668RAC2     AAA
A-2        45668RAD0     AAA

IndyMac INDX Mortgage Loan Trust 2007-FLX3
Series 2007-FLX3

Class      CUSIP         Rating
-----      -----         ------
A-1        45670AAA9     AAA
A-2        45670AAB7     AAA

IndyMac INDX Mortgage Loan Trust 2007-FLX4
Series 2007-FLX4

Class      CUSIP         Rating
-----      -----         ------
1-A-1      456687AA0     AAA
2-A-1      456687AC6     AAA
2-A-2      456687AD4     AAA

IndyMac INDX Mortgage Loan Trust 2007-FLX5
Series 2007-FLX5

Class      CUSIP         Rating
-----      -----         ------
1-A-1      45669WAA4     AAA
2-A-1      45669WAC0     AAA
2-A-2      45669WAD8     AAA

Lehman XS Trust Series 2007-12N
Series 2007-12N

Class      CUSIP         Rating
-----      -----         ------
1-AX       52524YAE3     AAA
2-A1       52524YAF0     AAA
3-A1       52524YAK9     AAA
3-A2       52524YAL7     AAA

Lehman XS Trust Series 2007-2N
Series 2007-2N

Class      CUSIP         Rating
-----      -----         ------
1-A1A      52524LAA9     AAA
1-AX       52524LAC5     AAA
2-AX       52524LAW1     AAA
3-AX       52524LAH4     AAA

Lehman XS Trust Series 2007-4N
Series 2007-4N

Class      CUSIP         Rating
-----      -----         ------
1-A2A      52524HAB6     AAA
1-AX       52524HAE0     AAA
2-AX       52524HAG5     AAA
3-A2A      52524HAJ9     AAA
3-AX       52524HAM2     AAA
1-AP       52524HBA7     AAA
2-AP       52524HBB5     AAA
3-AP       52524HBC3     AAA

Lehman XS Trust Series 2007-7N
Series 2007-7N

Class      CUSIP         Rating
-----      -----         ------
1-A1A      52524GAA0     AAA
1-A1B      52524GAB8     AAA
1-A2       52524GAC6     AAA
2-A1A      52524GAH5     AAA
2-A2A      52524GAK8     AAA
M9         52524GAV4     CCC

Luminent Mortgage Trust 2006-1
Series 2006-1

Class      CUSIP         Rating
-----      -----         ------
A1         550279AM5     AAA
A2         550279AN3     AAA
X          550279AQ6     AAA

Luminent Mortgage Trust 2006-2
Series 2006-2

Class      CUSIP         Rating
-----      -----         ------
A1A        550279BA0     AAA
A1B        550279BB8     AAA
X          550279BD4     AAA
PO         550279BE2     AAA

Luminent Mortgage Trust 2006-4
Series 2006-4

Class      CUSIP         Rating
-----      -----         ------
A1A        55027BAA6     AAA
X          55027BAD0     AAA

Luminent Mortgage Trust 2006-5
Series 2006-5

Class      CUSIP         Rating
-----      -----         ------
A1A        55027XAA8     AAA
X          55027XAD2     AAA

Luminent Mortgage Trust 2006-7
Series 2006-7

Class      CUSIP         Rating
-----      -----         ------
I-A-1      55028BAA5     AAA
II-A-1     55028BAG2     AAA
II-A-2     55028BAH0     AAA

Merrill Lynch Alternative Note Asset Trust Series 2007-OAR1
Series 2007-OAR1

Class      CUSIP         Rating
-----      -----         ------
A-1        59023TAA3     AAA
A-2        59023TAB1     AAA
B-3        59023TAM7     CCC

Merrill Lynch Alternative Note Asset Trust Series 2007-OAR2
Series 2007-OAR2

Class      CUSIP         Rating
-----      -----         ------
A-1        59024BAA1     AAA
A-2        59024BAB9     AAA

Merrill Lynch Alternative Note Asset Trust Series 2007-OAR3
Series 2007-OAR3

Class      CUSIP         Rating
-----      -----         ------
A-1        59024JAA4     AAA
B-3        59024JAM8     CCC

MortgageIT Mortgage Loan Trust 2006-1
Series 2006-1

Class      CUSIP         Rating
-----      -----         ------
2-B1       61915RCM6     CCC

RALI Series 2006 QO6
Series 2006-Q06

Class      CUSIP         Rating
-----      -----         ------
A-1        75114NAA2     AAA
A-2        75114NAB0     AAA

RALI Series 2006-QH1 Trust
Series 2006-QH1

Class      CUSIP         Rating
-----      -----         ------
A-1        75115GAA6     AAA
A-2        75115GAB4     AAA

RALI Series 2006-QO1 Trust
Series 2006-QO1

Class      CUSIP         Rating
-----      -----         ------
1-A-1      761118RG5     AAA
2-A-1      761118RJ9     AAA
3-A-1      761118RM2     AAA
3-A-2      761118RN0     AAA
X-1        761118RW0     AAA
X-2        761118RX8     AAA
X-3        761118RY6     AAA

RALI Series 2006-QO10 Trust
Series 2006-QO10

Class      CUSIP         Rating
-----      -----         ------
A-1        751153AA5     AAA
A-2        751153AB3     AAA

RALI Series 2006-QO2 Trust
Series 2006-QO2

Class      CUSIP         Rating
-----      -----         ------
A-1        761118VY1     AAA
A-2        761118VZ8     AAA

RALI Series 2006-QO3 Trust
Series 2006-QO3

Class      CUSIP         Rating
-----      -----         ------
A-1        761118WP9     AAA
A-2        761118WQ7     AAA

RALI Series 2006-QO4 Trust
Series 2006-QO4

Class      CUSIP         Rating
-----      -----         ------
I-A-1      75114GAA7     AAA
II-A-1     75114GAC3     AAA
II-A-2     75114GAD1     AAA

RALI Series 2006-QO7 Trust
Series 2006-QO7

Class      CUSIP         Rating
-----      -----         ------
I-A-1      751150AA1     AAA
II-A-1     751150AD5     AAA
III-A-1    751150AG8     AAA
X-1        751150AP8     AAA
X-2        751150AQ6     AAA
X-3        751150AR4     AAA

RALI Series 2006-QO8 Trust
Series 2006-QO8

Class      CUSIP         Rating
-----      -----         ------
I-A3A      75115FAD2     AAA
I-AX       75115FAX8     AAA
II-AX      75115FAY6     AAA

RALI Series 2007-QH1 Trust
Series 2007-QH1

Class      CUSIP         Rating
-----      -----         ------
A-1        74922HAA0     AAA

RALI Series 2007-QH2 Trust
Series 2007-QH2

Class      CUSIP         Rating
-----      -----         ------
A-1        74922JAA6     AAA

RALI Series 2007-QH3 Trust
Series 2007-QH3

Class      CUSIP         Rating
-----      -----         ------
A-1        74922WAA7     AAA

RALI Series 2007-QH4 Trust
Series 2007-QH4

Class      CUSIP         Rating
-----      -----         ------
A-1        74922TAA4     AAA

RALI Series 2007-QH5 Trust
Series 2007-QH5

Class      CUSIP         Rating
-----      -----         ------
A-I-1      75116EAA0     AAA

RALI Series 2007-QH6 Trust
Series 2007-QH6

Class      CUSIP         Rating
-----      -----         ------
A-1        74922AAA5     AAA

RALI Series 2007-QO1 Trust
Series 2007-QO1

Class      CUSIP         Rating
-----      -----         ------
A-1        75115YAA7     AAA

RALI Series 2007-QO2 Trust
Series 2007-QO2

Class      CUSIP         Rating
-----      -----         ------
A-1        75116AAA8     AAA

RALI Series 2007-QO3 Trust
Series 2007-QO3

Class      CUSIP         Rating
-----      -----         ------
A-1        74923TAA3     AAA
A-2        74923TAB1     AAA

RALI Series 2007-QO4 Trust
Series 2007-QO4

Class      CUSIP         Rating
-----      -----         ------
A-1        74923LAA0     AAA
A-1-a      74923LAB8     AAA

Structured Asset Mortgage Investments II Trust 2006-AR5
Series 2006-AR5

Class      CUSIP         Rating
-----      -----         ------
1-A-1      86360JAA9     AAA
1-A-2      86360JAB7     AAA
1-X        86360JAD3     AAA
2-A-1      86360JAE1     AAA
2-A-2      86360JAF8     AAA
3-A-1      86360JAJ0     AAA
3-A-2      86360JAK7     AAA
4-A-1      86360JAN1     AAA
4-A-2      86360JAP6     AAA
M-X        86360JAS0     BB

WaMu Mortgage Pass-Through Certificates Series 2006-AR17 Trust
Series 2006-AR17

Class      CUSIP         Rating
-----      -----         ------
1A         92925DAA8     AAA
1A-1A      92925DAB6     AAA
1A-1B      92925DAC4     AAA
2A         92925DAD2     AAA
2A-1B      92925DAE0     AAA

Zuni Mortgage Loan Trust 2006-OA1
Series 2006-OA1

Class      CUSIP         Rating
-----      -----         ------
A-1        98981YAA0     AAA
X          98981YAB8     AAA
PO         98981YAC6     AAA


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------


Oct. 23, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Arizona Chapter Meeting - Election Oriented
         TBD, Phoenix, Arizona
            Contact: www.turnaround.org

Oct. 23, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Effective Turnarounds: A Panel of Professionals
         TBA, Rochester, New York
            Contact: www.turnaround.org

Oct. 23-24, 2008
   AMERICAN CONFERENCE INSTITUTE
      Distressed Assets Boot Camp
         TBD, London, United Kingdom
            Contact: www.americanconference.com

Oct. 28, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      State of the Capital Markets
         Citrus Club, Orlando, Florida
            Contact: www.turnaround.org/

Oct. 28-31, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         Marriott New Orleans, Louisiana
            Contact: 312-578-6900; http://www.turnaround.org/

Oct. 29-30, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Corporate Governance Meetings
         Marriott, New Orleans, Louisiana
            Contact: www.turnaround.org

Oct. 30 & 31, 2008
   BEARD GROUP & RENAISSANCE AMERICAN CONFERENCES
      Physicians Agreements and Ventures
            Contact: 800-726-2524; 903-595-3800;
               www.renaissanceamerican.com

Oct. 31, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      International Insolvency Symposium
         Hilton, Frankfurt, Germany
            Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. 6, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Networking Breakfast
         Coach House Diner & Restaurant, Hackensack, New Jersey
            Contact: 908-575-7333 or www.turnaround.org

Nov. 11, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Detroit Consumer Bankruptcy Conference
         Marriott, Troy, Michigan
            Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. 13, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Turnaround Case Study
         Summit Club, Birmingham, Alabama
            Contact: www.turnaround.org

Nov. 13, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Effective Turnarounds:A View From Workout Consultants
         TBA, Buffalo, New York
            Contact: www.turnaround.org

Nov. 13, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      LI-TMA Social
         TBD, Melville, New York
            Contact: 631-251-6296 or www.turnaround.org

Nov. 13, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Dinner Meeting
         TBD, Calgary, Alberta
            Contact: 503-768-4299 or www.turnaround.org

Nov. 17-18, 2008
   BEARD GROUP & RENAISSANCE AMERICAN CONFERENCES
      Distressed Investing
            Contact: 800-726-2524; 903-595-3800;
               www.renaissanceamerican.com

Nov. 19, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Special Program
         Tournament Players Club at Jasna Polana, New Jersey
            Contact: 908-575-7333 or www.turnaround.org

Nov. 19, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Interaction Between Professionals in a
Restructuring/Bankruptcy
         Bankers Club, Miami, Florida
            Contact: 312-578-6900; http://www.turnaround.org/
  
Nov. 20, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Senior Housing & Long Term Care
         Washington Athletic Club,Seattle, Washington
            Contact: www.turnaround.org

Nov. 27, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Arizona Chapter Meeting - Chris Kaup
         TBD, Phoenix, Arizona
            Contact: www.turnaround.org

Dec. 3, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Holiday Party
         McCormick & Schmick's, Las Vegas, Nevada
            Contact: 702-952-2480 or www.turnaround.org

Dec. 3, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Christmas Function
         Terminal City Club, Vancouver, British Columbia
            Contact: 503-768-4299 or www.turnaround.org

Dec. 3-5, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      20th Annual Winter Leadership Conference
         Westin La Paloma Resort & Spa
            Tucson, Arizona
               Contact: http://www.abiworld.org/

Dec. 8, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Holiday Gathering
         TBD, Long Island, New York
            Contact: 631-251-6296 or www.turnaround.org

Dec. 9, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Holiday MIxer
         Washington Athletic Club, Seattle, Washington
            Contact: 503-768-4299 or www.turnaround.org

Dec. 11, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Holiday MIxer
         University Club, Portland, Oregon
            Contact: 503-768-4299 or www.turnaround.org

Dec. 18, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Holiday MIxer
         TBD, Phoenix, Arizona
            Contact: 623-581-3597 or www.turnaround.org

Dec. 31, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Sponsorships - Annual Golf Outing, Various Events
         TBA, New Jersey
            Contact: 908-575-7333 or www.turnaround.org

Jan. 21-22, 2009
   TURNAROUND MANAGEMENT ASSOCIATION
      Corporate Governance Meetings
         Bellagio, Las Vegas, Nevada
            Contact: www.turnaround.org

Jan. 22-23, 2009
   TURNAROUND MANAGEMENT ASSOCIATION
      Distressed Investing Conference
         Bellagio, Las Vegas, Nevada
            Contact: www.turnaround.org

Jan. 22-23, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      Rocky Mountain Bankruptcy Conference
         Westin Tabor Center, Denver, Colorado
            Contact: 1-703-739-0800; http://www.abiworld.org/

Feb. 5-7, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      Caribbean Insolvency Symposium
         Westin Casurina, Grand Cayman Island, AL
            Contact: 1-703-739-0800; http://www.abiworld.org/

Feb. 25-27, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      Valcon
         Four Seasons, Las Vegas, Nevada
            Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 13, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      Bankruptcy Battleground West
         Beverly Wilshire, Beverly Hills, California
            Contact: 1-703-739-0800; http://www.abiworld.org/

Apr. 17-18, 2009
   NATIONAL ASSOCIATION OFBANKRUPTCY TRUSTEES
      NABT Spring Seminar
         The Peabody, Orlando, Florida
            Contact: http://www.nabt.com/

Apr. 20, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      Consumer Bankruptcy Conference
         John Adams Courthouse, Boston, Massachusetts
            Contact: 1-703-739-0800; http://www.abiworld.org/

Apr. 27-28, 2009
   TURNAROUND MANAGEMENT ASSOCIATION
      Corporate Governance Meetings
         Intercontinental Hotel, Chicago, Illinois
            Contact: www.turnaround.org

Apr. 28-30, 2009
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Spring Conference
         Intercontinental Hotel, Chicago, Illinois
            Contact: www.turnaround.org

May 7-10, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      27th Annual Spring Meeting
         Gaylord National Resort & Convention Center
            National Harbor, Maryland
               Contact: http://www.abiworld.org/

May 14-16, 2009
   ALI-ABA
      Chapter 11 Business Reorganizations
         Langham Hotel, Boston, Massachusetts
            Contact: http://www.ali-aba.org

June 11-13, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      Central States Bankruptcy Workshop
         Grand Traverse Resort and Spa
            Traverse City, Michigan
               Contact: http://www.abiworld.org/

June 21-24, 2009
   INTERNATIONAL ASSOCIATION OF RESTRUCTURING, INSOLVENCY &
      BANKRUPTCY PROFESSIONALS
         8th International World Congress
            TBA
               Contact: http://www.insol.org/

July 16-19, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      Northeast Bankruptcy Conference
         Mt. Washington Inn
            Bretton Woods, New Hampshire
               Contact: http://www.abiworld.org/

Sept. 10-12, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      17th Annual Southwest Bankruptcy Conference
         Hyatt Regency Lake Tahoe, Incline Village, Nevada
            Contact: http://www.abiworld.org/

Oct. 5-9, 2009
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         Marriott Desert Ridge, Phoenix, Arizona
            Contact: 312-578-6900; http://www.turnaround.org/

Dec. 3-5, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      21st Annual Winter Leadership Conference
         La Quinta Resort & Spa, La Quinta, California
            Contact: 1-703-739-0800; http://www.abiworld.org/

Apr. 15-18, 2010
   AMERICAN BANKRUPTCY INSTITUTE
      Annual Spring Meeting
         Gaylord National Resort & Convention Center, Maryland
            Contact: 1-703-739-0800; http://www.abiworld.org/

June 17-20, 2010
   AMERICAN BANKRUPTCY INSTITUTE
      Central States Bankruptcy Workshop
         Grand Traverse Resort and Spa, Traverse City, Michigan
            Contact: 1-703-739-0800; http://www.abiworld.org/

July 7-10, 2010
   AMERICAN BANKRUPTCY INSTITUTE
      Northeast Bankruptcy Conference
         Ocean Edge Resort, Brewster, Massachusetts
            Contact: 1-703-739-0800; http://www.abiworld.org/

Aug. 5-7, 2010
   AMERICAN BANKRUPTCY INSTITUTE
      Mid-Atlantic Bankruptcy Workshop
         Hyatt Regency Chesapeake Bay, Cambridge, Maryland
            Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 4-8, 2010
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         JW Marriott Grande Lakes, Orlando, Florida
            Contact: http://www.turnaround.org/

Dec. 2-4, 2010
   AMERICAN BANKRUPTCY INSTITUTE
      Winter Leadership Conference
         Camelback Inn, Scottsdale, Arizona
            Contact: 1-703-739-0800; http://www.abiworld.org/

BEARD AUDIO CONFERENCES
   2006 BACPA Library  
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com

BEARD AUDIO CONFERENCES
   BAPCPA One Year On: Lessons Learned and Outlook
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Calpine's Chapter 11 Filing
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Carve-Out Agreements for Unsecured Creditors
      Contact: 240-629-3300; http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Changes to Cross-Border Insolvencies
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Changing Roles & Responsibilities of Creditors' Committees
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Chinas New Enterprise Bankruptcy Law
      Contact: 240-629-3300;
         http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Clash of the Titans -- Bankruptcy vs. IP Rights
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Coming Changes in Small Business Bankruptcy
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Corporate Bankruptcy Bootcamp: A Nuts & Bolts Primer
      for Navigating the Restructuring Process
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com

BEARD AUDIO CONFERENCES
   Dana's Chapter 11 Filing
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Deepening Insolvency  Widening Controversy: Current Risks,
      Latest Decisions
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Diagnosing Problems in Troubled Companies
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Distressed Claims Trading
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Distressed Market Opportunities
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Distressed Real Estate under BAPCPA
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Employee Benefits and Executive Compensation under the New
      Code
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Equitable Subordination and Recharacterization
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Examining the Examiners: Pros and Cons of Using
      Examiners in Chapter 11 Proceedings   
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com

BEARD AUDIO CONFERENCES
   Fundamentals of Corporate Bankruptcy and Restructuring
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Handling Complex Chapter 11
      Restructuring Issues
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Healthcare Bankruptcy Reforms
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   High-Yield Opportunities in Distressed Investing
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Homestead Exemptions under BAPCPA
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Hospitals in Crisis: The Insolvency Crisis Plaguing
      Hospitals Across the U.S.
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   IP Rights In Bankruptcy
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   KERPs and Bonuses under BAPCPA
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   New 'Red Flag' Identity Theft Rules
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com

BEARD AUDIO CONFERENCES
   Non-Traditional Lenders and the Impact of Loan-to-Own
      Strategies on the Restructuring Process
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Partnerships in Bankruptcy: Unwinding The Deal
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Privacy Rights, Protections & Pitfalls in Bankruptcy
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Real Estate Bankruptcy
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Reverse Mergersthe New IPO?
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Second Lien Financings and Intercreditor Agreements
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Surviving the Digital Deluge: Best Practices in E-Discovery
      and Records Management for Bankruptcy Practitioners
         and Litigators
            Audio Conference Recording
               Contact: 240-629-3300;
                  http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Technology as a Competitive Advantage For Todays Legal
Processes
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   The Battle of Green & Red: Effect of Bankruptcy
      on Obligations to Clean Up Contaminated Property
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   The Subprime Sector Meltdown:
      Legal Developments and Latest Opportunities
         Contact: 240-629-3300;
http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Twenty-Day Claims
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Using Virtual Data Rooms to Expedite Corporate Restructuring
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com

BEARD AUDIO CONFERENCES
   Using Virtual Data Rooms to Expedite M&A and Insolvency
Proceedings
      Audio Conference Recording
          Contact: 240-629-3300;
http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Validating Distressed Security Portfolios: Year-End Price
      Validation and Risk Assessment
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   When Tenants File -- A Landlord's BAPCPA Survival Guide
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/


                     *      *      *

                   Featured Conferences

Renaissance American Management and Beard Conferences presents

Oct. 30-31, 2008
Physician Agreements & Ventures
The Millennium Knickerbocker Hotel - Chicago
Brochure will be available soon!

Nov. 17-18, 2008
Distressed Investing
The Helmsley Park Lane - New York
Brochure will be available soon!


                     *      *      *


Beard Audio Conferences presents

Bankruptcy and Restructuring Audio Conference CDs

More information and list of available titles at:
http://beardaudioconferences.com/bin/topics?category_id=BAR

                     *      *      *



The Meetings, Conferences and Seminars column appears in the
Troubled Company Reporter each Wednesday. Submissions via e-mail
to conferences@bankrupt.com are encouraged.

Last Updated: sEPT. 9, 2008


                             *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.  
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed chapter 11
cases involving less than $1,000,000 in assets and liabilities
delivered to nation's bankruptcy courts.  The list includes links
to freely downloadable images of these small-dollar petitions in
Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                             *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Julybien D. Atadero, Sheryl Joy P. Olano, Ronald C. Sy, Joel
Anthony G. Lopez, Cecil R. Villacampa, Ludivino Q. Climaco, Jr.,
Loyda I. Nartatez, Tara Marie A. Martin, Joseph Medel C. Martirez,
Ma. Cristina I. Canson, Christopher G. Patalinghug, and Peter A.
Chapman, Editors.

Copyright 2008.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail. Additional e-mail subscriptions for members of the same firm
for the term of the initial subscription or balance thereof are
$25 each.  For subscription information, contact Christopher Beard
at 240/629-3300.

                    *** End of Transmission ***