DBRS Rates Jefferies Resecuritization Trust 2009-R4 Certificates

DBRS has today assigned the following ratings to the Resecuritization Trust Certificates, Series 2009-R4 issued by Jefferies Resecuritization Trust 2009-R4 (the Trust).

-- $6.1 million Class 1-A1 rated at AAA
-- $714.0 thousand Class 1-A2 rated at “A”
-- $535.5 thousand Class 1-A3 rated at BBB
-- $535.5 thousand Class 1-A4 rated at B
-- $10.3 million Class 2-A1 rated at AAA
-- $1.2 million Class 2-A2 rated at “A”
-- $908.4 thousand Class 2-A3 rated at BBB
-- $908.4 thousand Class 2-A4 rated at B
-- $6.0 million Class 3-A1 rated at AAA
-- $985.2 thousand Class 3-A2 rated at “A”
-- $447.8 thousand Class 3-A3 rated at BBB
-- $447.8 thousand Class 3-A4 rated at B
-- $5.5 million Class 4-A1 rated at AAA
-- $1.0 million Class 4-A2 rated at “A”
-- $500.0 thousand Class 4-A3 rated at BBB
-- $1.3 million Class 4-A4 rated at B
-- $7.4 million Class 5-A1 rated at AAA
-- $1.6 million Class 5-A2 rated at “A”
-- $545.1 thousand Class 5-A3 rated at BBB
-- $545.1 thousand Class 5-A4 rated at B
-- $11.6 million Class 6-A1 rated at AAA
-- $1.9 million Class 6-A2 rated at “A”
-- $645.2 thousand Class 6-A3 rated at BBB
-- $1.1 million Class 6-A4 rated at B

There are a total of 33 groups in this resecuritization trust, each consisting of one seasoned senior residential mortgage-backed security. Within each group, the AAA ratings on the Class A1 certificates, the “A” ratings on the Class A2 certificates, the BBB ratings on the Class A3 certificates and the B ratings on the Class A4 certificates reflect the credit enhancement provided by subordination. The ratings also reflect the quality of the underlying securities.

DBRS does not rate the Class 1-A5, 2-A5, 3-A5, 4-A5, 5-A5 and 6-A5 certificates or the Group 7 through Group 33 certificates.

Interest and principal payments on the notes and certificates will generally be made on the 26th day of each month, commencing in April 2009. Within each group, interest payments will be distributed on a pro rata basis to the certificates and principal payments will be distributed on a sequential basis to the certificates until the certificate principal balance has been reduced to zero.

Any losses realized from the underlying securities will be allocated reverse sequentially to the certificates within each group until their principal balances have been reduced to zero.

The Trust is a resecuritization consisting of 33 senior residential mortgage-backed securities represented by various real estate mortgage investment conduits (REMICs). The REMIC trusts are backed by pools of prime and Alt-A, first lien, one- to four-family residential mortgages.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating U.S. Residential Mortgage-Backed Securities Transactions, which can be found on the DBRS website under Methodologies.

This is a Structured Finance rating.