DBRS Rates RBSSP Resecuritization Trust 2009-7 Certificates

DBRS has today assigned the following ratings to the Resecuritization Trust Certificates, Series 2009-7 issued by RBSSP Resecuritization Trust 2009-7 (the Trust).

-- $11.7 million Class 6-A1 rated at AAA

DBRS rates only the Group 6 certificates in this resecuritization trust. The AAA ratings on the Class 6-A1 certificates reflect the 40% of credit enhancement provided by subordination. The ratings also reflect the quality of the underlying asset, which consists of one residential mortgage pass-through certificate.

DBRS does not rate the Class 6-A2 Certificates or any certificates in Group 1 through 5 and Group 7 through 18.

In Group 6, interest and principal payments on the certificates will generally be made on the 25th day of each month, commencing in July 2009. Interest payments will be distributed on a sequential basis to the certificates, provided that interest payments to Class 6-A2 will be distributed as principal to Class 6-A1 until the Class 6-A1 principal balance is reduced to zero. Principal payments will be distributed on a sequential basis to the certificates until the certificate principal balances have been reduced to zero. Additionally, the pass-through rate for the 6-A1 certificates may vary based on the credit support provided by the unpaid principal balance of the 6-A2 certificates.

Any losses realized from the underlying securities will be allocated in a reverse sequential order to the certificates until their principal balances have been reduced to zero.

The Trust is a resecuritization of a residential mortgage pass-through certificate which is backed by a pool of Alt-A one- to four-family adjustable-rate first-lien 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 our website under Methodologies.

This is a Structured Finance rating.