DBRS Rates Jefferies Resecuritization Trust Certificates, Series 2009-R9

DBRS has today assigned the following ratings to the Jefferies Resecuritization Trust Certificates, Series 2009-R9 issued by Jefferies Resecuritization Trust 2009-R9 (the Trust).

-- $50.0 million Class 1-A1 rated at AAA

DBRS rates Group 1 in this resecuritization trust. Group 1 is backed by a percentage interest of the Class 1-A4 Certificates from WaMu Mortgage Pass-Through Certificates, Series 2006-AR8. The AAA ratings on the Class 1-A1 certificates reflect the 35% of credit enhancement provided by subordination. The ratings also reflect the quality of the underlying securities.

DBRS does not rate the Class 1-A2, 1-A3, 1-A4 certificates or any certificates in Group 2.

Interest and principal payments on the certificates will generally be made on the 26th day of each month, commencing in July 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 two senior residential mortgage-backed securities represented by two real estate mortgage investment conduits (REMIC). For the DBRS-rated group, the REMIC trust is backed by a pool of 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.