December 07, 2012 at 13:48 PM EST
Fitch Affirms RBSCF Trust 2010-RR4

Fitch Ratings affirms RBSCF Trust 2010-RR4, resecuritization pass-through certificates, series 2010-RR4, as follows:

--$49,675,750* class CSMC-A at 'AAAsf'; Outlook Stable;

--$24,837,750** class CSMC-A1 at 'AAAsf'; Outlook Stable;

--$12,419,000** class CSMC-A2 at 'AAAsf'; Outlook Stable;

--$12,419,000** class CSMC-A3 at 'AAAsf'; Outlook Stable;

--$37,256,000** class CSMC-A4 at 'AAAsf'; Outlook Stable;

--$24,838,000** class CSMC-A5 at 'AAAsf'; Outlook Stable.

Fitch does not rate classes CSMC-B, CSMC-B1 and CSMC-B2.

* Exchangeable REMIC Certificates

** Exchangeable Certificates

This transaction is a resecuritization of the ownership interest in five commercial mortgage-backed certificates which total $480.3 million. The transaction consists of five re-REMIC bond groups backed by five underlying bonds.

Principal and interest from the underlying commercial mortgage-backed certificates pass through to the respective senior and junior re-REMIC bonds in sequential order. The certificates are collateralized by $69.5 million (7.1% interest) of the Credit Suisse Commercial Mortgage Trust Series 2007-C5, class-A-4 certificates. The class A-4 is rated 'AAA'; Outlook Stable, which was affirmed by Fitch on Dec. 5, 2012. The underlying class A-4 has approximately 29.6% credit enhancement.

Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'Global Structured Finance Rating Criteria' (June 6, 2012);

--'Surveillance Methodology for U.S. Fixed-Rate CMBS Transactions' (Dec. 21, 2011);

--'U.S. Commercial Mortgage Re-REMIC Criteria; (Feb. 23, 2012).

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

Surveillance Methodology for U.S. Fixed-Rate CMBS Transactions

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=662869

U.S. Commercial Mortgage Re-REMIC Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=672269

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'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

Contacts:

Fitch Ratings
Primary Analyst
Jeffrey Diliberto
Director
+1-212-908-9173
Fitch, Inc.
One State Street Plaza
New York, NY 10004
or
Committee Chairperson
Mary MacNeill
Managing Director
+1-212-908-0785
or
Media Relations:
Sandro Scenga, +1-212-908-0278 (New York)
sandro.scenga@fitchratings.com
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