Fitch Ratings has assigned ratings and Rating Outlooks to Credit Suisse First Boston Mortgage Securities CSMC 2009-4R as follows:
–$152,744,000 exchangeable class 1-A-1 ‘AAA’; Outlook Stable;
–$125,789,000 class 1-A-2 ‘AAA’; Outlook Stable;
–$8,985,000 class 1-A-3 ‘AAA’; Outlook Stable;
–$4,493,000 class 1-A-4 ‘AAA’; Outlook Stable;
–$4,492,000 class 1-A-5 ‘AAA’; Outlook Stable;
–$8,985,000 class 1-A-6 ‘AAA’; Outlook Stable;
–$143,759,000 exchangeable class 1-A-10 ‘AAA’; Outlook Stable;
–$139,267,000 exchangeable class 1-A-11 ‘AAA’; Outlook Stable;
–$134,774,000 exchangeable class 1-A-12 ‘AAA’; Outlook Stable;
–$26,955,000 exchangeable class 1-A-20 ‘AAA’; Outlook Stable;
–$17,970,000 exchangeable class 1-A-21 ‘AAA’; Outlook Stable;
–$13,478,000 exchangeable class 1-A-22 ‘AAA’; Outlook Stable;
–$50 residual class 1-R ‘AAA’; Outlook Stable;
–$380,269,000 exchangeable class 2-A-1 ‘AAA’; Outlook Stable;
–$313,163,000 class 2-A-2 ‘AAA’; Outlook Stable;
–$22,369,000 class 2-A-3 ‘AAA’; Outlook Stable;
–$11,184,000 class 2-A-4 ‘AAA’; Outlook Stable;
–$11,185,000 class 2-A-5 ‘AAA’; Outlook Stable;
–$22,368,000 class 2-A-6 ‘AAA’; Outlook Stable;
–$357,901,000 exchangeable class 2-A10 ‘AAA’; Outlook Stable;
–$346,716,000 exchangeable class 2-A-11 ‘AAA’; Outlook Stable;
–$335,532,000 exchangeable class 2-A-12 ‘AAA’; Outlook Stable;
–$67,106,000 exchangeable class 2-A-20 ‘AAA’; Outlook Stable;
–$44,738,000 exchangeable class 2-A-21 ‘AAA’; Outlook Stable;
–$33,553,000 exchangeable class 2-A-22 ‘AAA’; Outlook Stable;
–$33,553,000 exchangeable class 2-A-23 ‘AAA’; Outlook Stable;
–$44,737,000 exchangeable class 2-A-24 ‘AAA’; Outlook Stable;
–$50 residual class 2-R ‘AAA’; Outlook Stable.
This transaction contains certain classes designated as Exchangeable certificates and others as Exchangeable REMIC certificates. The Exchangeable certificates are exchangeable for certain classes of Exchangeable REMIC certificates: the classes 1-A-2 through 1-A-9 and 2-A-2 through 2-A-9, in certain combinations. The 1-A-7, 1-A-8, 1-A-9, 1-A-13 through 1-A-19, 2-A-7, 2-A-8, 2-A-9, 2-A-19 through 2-A-19, as well as the C-M classes are not rated by Fitch.
This transaction consists of two groups. Group 1 is a resecuritization of 100% interest in each of the Thornburg Mortgage Securities Trust 2006-2, classes A-1-A, A-1-B, and A-1-C. Credit enhancement (CE) for the 1-A-2, 1-A-3, 1-A-4, 1-A-5, and 1-A-6, certificates is provided by the structural support on the underlying transaction and by the 15% class 1-A-7, 1-A-8, and 1-A-9 bonds. Group 2 is a resecuritization of 100% interest in each of the Thornburg Mortgage Securities Trust 2006-2, classes A-2-A, A-2-B, and A-2-C. CE for the 2-A-2, 2-A-3, 2-A-4, 2-A-5, and 2-A-6, certificates is provided by the structural support on the underlying transaction and by the 15% class 2-A-7, 2-A-8, and 2-A-9 bonds. As resecuritizations, the certificates will receive their cash-flows from the underlying classes of certificates.
The underlying certificates represent beneficial ownership interest in adjustable-rate, conventional, first lien residential mortgage loans, substantially all of which have original terms to stated maturity of 30 years.
L.D.