LONDON (Standard&Poor's) May 29, 2009—Standard&Poor's Ratings Services today took various rating actions on notes issued by Eurohome UK Mortgages 2007-1 PLC (Eurohome 2007-1) and Eurohome UK Mortgages 2007-2 PLC (Eurohome 2007-2). Specifically, we have: -- Lowered and removed from CreditWatch negative our ratings on 12 tranches; -- Affirmed and removed from CreditWatch negative our rating on one tranche; and -- Affirmed our ratings on four other tranches (see list below). Today's rating actions follow a credit and cash flow analysis of the most recent loan-level information that we have received. The rating actions are based on our assessment that there has been a rapid deterioration of collateral performance and our expectations of a continued decline in
