DBRS Assigns Negative Trend to Claris IV Limited - Series 28

DBRS has today assigned a Negative trend to the classes issued by Claris IV Limited - Series 28. Claris IV Limited - Series 28 is collateralized primarily by a portfolio of U.S. residential mortgage-backed securities and other asset-backed securities. The DBRS ratings of the Class I-A Swap, Class I-B Swap and Class I-C Swap address the probability of breaching their respective attachment points as defined in the transaction documents at or prior to their maturity dates. The DBRS ratings of the Class II-A Notes and Class II-B Notes address the ability to make timely payments of interest and full payment of principal on or before the facility’s legal maturity date.

The Negative trend reflects the deterioration in credit quality of the underlying collateral pool since the transaction was initially assigned a DBRS rating on November 26, 2008.

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

The applicable public methodology is The CDO Toolbox methodology, which can be found on our website under Methodologies, as well as DBRS’s internal Rating U.S. ABS CDO Restructurings Methodology.

This is a Structured Finance rating.