Press Release

DBRS Rates RBSSP Resecuritization Trust 2009-6 Certificates

RMBS
May 28, 2009

DBRS has today assigned the following ratings to the Resecuritization Trust Certificates, Series 2009-6 issued by RBSSP Resecuritization Trust 2009-6 (the Trust).

-- $27.4 million Class 7-A1* rated at AAA
-- $5.5 million Class 7-A2* rated at AAA
-- $32.9 million Class 7-A4** rated at AAA
-- $9.8 million Class 8-A1* rated at AAA
-- $733,000 Class 8-A2* rated at AAA
-- $10.6 million Class 8-A4** rated at AAA
-- $4.8 million Class 9-A1* rated at AAA
-- $1.2 million Class 9-A2* rated at AAA
-- $6.0 million Class 9-A4** rated at AAA
-- $7.4 million Class 10-A1* rated at AAA
-- $1.6 million Class 10-A2* rated at AAA
-- $9.1 million Class 10-A4** rated at AAA
-- $16.0 million Class 11-A1* rated at AAA
-- $3.5 million Class 11-A2* rated at AAA
-- $19.5 million Class 11-A4** rated at AAA
-- $12.9 million Class 13-A1* rated at AAA
-- $965,000 Class 13-A2* rated at AAA
-- $13.9 million Class 13-A4** rated at AAA

DBRS rates a total of six groups (Group 7 through 11 and Group 13) in this resecuritization trust, each consisting of one seasoned senior residential mortgage-backed security (RMBS). Within each DBRS-rated group, the AAA rating on the Class A1 and A2 certificates reflects the credit enhancement provided by the Class A3 certificates. The credit enhancements range from 28% to 50%. The ratings also reflect the quality of the underlying securities. Within each group, the Class A1 and Class A2 certificates may be exchanged for Class A4 certificates.

DBRS does not rate the Class A3 certificates within each DBRS-rated group, or any certificates in Group 1 through 6, 12 and 14 through 18.

Interest and principal payments on the certificates will generally be made on the 25th day of each month, commencing in June 2009. Within each group, interest payments will be distributed on a sequential basis to the certificates, provided that interest payments to Class A2 will be distributed as principal to Class A1, and interest payments to Class A3 will be distributed as principal on a sequential basis to Class A1 until the certificate principal balance has been reduced to zero, then to Class A2. Within each group, 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 in a reverse sequential order to the certificates within each group, until their principal balances have been reduced to zero.

The Trust is a resecuritization consisting of 18 senior RMBS, represented by various real estate mortgage investment conduits (REMICs). The REMICs are backed by pools of Alt-A or prime, fixed rate or adjustable rate, first-lien one- to four-family residential mortgages.

Notes:

  • Denotes Initial Exchangeable Certificate.
    ** Denotes Exchangeable Certificate.

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

Ratings

  • US = Lead Analyst based in USA
  • CA = Lead Analyst based in Canada
  • EU = Lead Analyst based in EU
  • UK = Lead Analyst based in UK
  • E = EU endorsed
  • U = UK endorsed
  • Unsolicited Participating With Access
  • Unsolicited Participating Without Access
  • Unsolicited Non-participating