Standard & Poor's Corp. cut its ratings Monday on $11.28 billion of securities transactions backed by alternative-A mortgages issued from 2005 through 2007 and $1.35 billion of prime jumbo mortgage-backed securities issued in 2006, because of an increase in projected losses.

The rating agency lowered ratings on 385 classes from 13 alt-A transactions while affirming ratings on another 56 classes. More than 175 of the ratings had carried the top triple-A rating.

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