LONDON (Standard&Poor's) Feb. 16, 2009—Standard&Poor's Ratings Services today took various rating actions on notes issued by Eurohome UK Mortgages 2007-1 PLC and Eurohome UK Mortgages 2007-2 PLC. Specifically, we lowered and placed on CreditWatch negative our ratings on four tranches, placed nine tranches on CreditWatch negative, and affirmed the MERCs in both deals (see list below). Today's downgrades of the class B2 and C notes in both transactions follow deteriorating collateral performance and our expectation of increasing losses. The fall in U.K. house prices and the effect of depressed sale prices on repossessions has led to significantly increased losses and loss severities for both deals. The reserve funds for Eurohome 2007-1 and Eurohome 2007-2 are currently
