DBRS Rates CSMC Series 2010-9R

DBRS has today assigned the following ratings to the CSMC Series 2010-9R Securities issued by CSMC Series 2010-9R (the Trust).

-- $330.7 million Class 1-A-1** rated at AAA
-- $24.3 million Class 1-A-2 rated at AA
-- $29.2 million Class 1-A-3 rated at A
-- $24.3 million Class 1-A-4 rated at BBB
-- $233.4 million Class 1-A-7* rated at AAA
-- $48.6 million Class 1-A-8* rated at AAA
-- $48.6 million Class 1-A-9* rated at AAA
-- $272.4 million Class 2-A-1** rated at AAA
-- $22.7 million Class 2-A-2 rated at AA
-- $27.2 million Class 2-A-3 rated at A
-- $22.7 million Class 2-A-4 rated at BBB
-- $181.6 million Class 2-A-7* rated at AAA
-- $45.4 million Class 2-A-8* rated at AAA
-- $45.4 million Class 2-A-9* rated at AAA
-- $221.6 million Class 3-A-1** rated at AAA
-- $21.7 million Class 3-A-2 rated at AA
-- $26.1 million Class 3-A-3 rated at A
-- $21.7 million Class 3-A-4 rated at BBB
-- $134.7 million Class 3-A-7* rated at AAA
-- $43.5 million Class 3-A-8* rated at AAA
-- $43.5 million Class 3-A-9* rated at AAA
-- $255 million Class 4-A-1** rated at AAA
-- $25.9 million Class 4-A-2 rated at AA
-- $21.6 million Class 4-A-3 rated at A
-- $25.9 million Class 4-A-4 rated at BBB
-- $168.6 million Class 4-A-7* rated at AAA
-- $43.2 million Class 4-A-8* rated at AAA
-- $43.2 million Class 4-A-9* rated at AAA
-- $89.4 million Class 5-A-1** rated at AAA
-- $12.8 million Class 5-A-2 rated at AA
-- $12.8 million Class 5-A-3 rated at A
-- $12.8 million Class 5-A-4 rated at BBB
-- $38.3 million Class 5-A-7* rated at AAA
-- $25.5 million Class 5-A-8* rated at AAA
-- $25.5 million Class 5-A-9* rated at AAA
-- $48.9 million Class 6-A-1** rated at AAA
-- $9.4 million Class 6-A-2 rated at AA
-- $9.4 million Class 6-A-3 rated at A
-- $9.4 million Class 6-A-4 rated at BBB
-- $11.3 million Class 6-A-7* rated at AAA
-- $18.8 million Class 6-A-8* rated at AAA
-- $18.8 million Class 6-A-9* rated at AAA
-- $100.3 million Class 7-A-1** rated at AAA
-- $10.4 million Class 7-A-2 rated at AA
-- $8.7 million Class 7-A-3 rated at A
-- $8.7 million Class 7-A-4 rated at BBB
-- $65.7 million Class 7-A-7* rated at AAA
-- $17.3 million Class 7-A-8* rated at AAA
-- $17.3 million Class 7-A-9* rated at AAA
-- $106.5 million Class 8-A-1** rated at AAA
-- $8.6 million Class 8-A-2 rated at AA
-- $10.3 million Class 8-A-3 rated at A
-- $8.6 million Class 8-A-4 rated at BBB
-- $72.1 million Class 8-A-7* rated at AAA
-- $17.2 million Class 8-A-8* rated at AAA
-- $17.2 million Class 8-A-9* rated at AAA
-- $94.3 million Class 9-A-1** rated at AAA
-- $10.3 million Class 9-A-2 rated at AA
-- $10.3 million Class 9-A-3 rated at A
-- $10.3 million Class 9-A-4 rated at BBB
-- $60 million Class 9-A-7* rated at AAA
-- $17.2 million Class 9-A-8* rated at AAA
-- $17.2 million Class 9-A-9* rated at AAA
-- $97.2 million Class 10-A-1** rated at AAA
-- $8.1 million Class 10-A-2 rated at AA
-- $9.7 million Class 10-A-3 rated at A
-- $8.1 million Class 10-A-4 rated at BBB
-- $64.8 million Class 10-A-7* rated at AAA
-- $16.2 million Class 10-A-8* rated at AAA
-- $16.2 million Class 10-A-9* rated at AAA
-- $22.4 million Class 11-A-1** rated at AAA
-- $6.4 million Class 11-A-2 rated at AA
-- $8 million Class 11-A-3 rated at A
-- $6.4 million Class 11-A-4 rated at BBB
-- $6.4 million Class 11-A-7* rated at AAA
-- $8 million Class 11-A-8* rated at AAA
-- $8 million Class 11-A-9* rated at AAA
-- $90.7 million Class 12-A-1** rated at AAA
-- $9.5 million Class 12-A-2 rated at AA
-- $8 million Class 12-A-3 rated at A
-- $9.5 million Class 12-A-4 rated at BBB
-- $58.9 million Class 12-A-7* rated at AAA
-- $15.9 million Class 12-A-8* rated at AAA
-- $15.9 million Class 12-A-9* rated at AAA
-- $89.6 million Class 13-A-1** rated at AAA
-- $9.3 million Class 13-A-2 rated at AA
-- $7.7 million Class 13-A-3 rated at A
-- $9.3 million Class 13-A-4 rated at BBB
-- $58.7 million Class 13-A-7* rated at AAA
-- $15.4 million Class 13-A-8* rated at AAA
-- $15.4 million Class 13-A-9* rated at AAA
-- $81.2 million Class 14-A-1** rated at AAA
-- $8.5 million Class 14-A-2 rated at AA
-- $7.1 million Class 14-A-3 rated at A
-- $8.5 million Class 14-A-4 rated at BBB
-- $52.7 million Class 14-A-7* rated at AAA
-- $14.2 million Class 14-A-8* rated at AAA
-- $14.2 million Class 14-A-9* rated at AAA
-- $70 million Class 15-A-1** rated at AAA
-- $5.8 million Class 15-A-2 rated at AA
-- $7 million Class 15-A-3 rated at A
-- $5.8 million Class 15-A-4 rated at BBB
-- $46.6 million Class 15-A-7* rated at AAA
-- $11.7 million Class 15-A-8* rated at AAA
-- $11.7 million Class 15-A-9* rated at AAA
-- $20.2 million Class 16-A-1** rated at AAA
-- $4.5 million Class 16-A-2 rated at AA
-- $5.6 million Class 16-A-3 rated at A
-- $4.5 million Class 16-A-4 rated at BBB
-- $9 million Class 16-A-7* rated at AAA
-- $5.6 million Class 16-A-8* rated at AAA
-- $5.6 million Class 16-A-9* rated at AAA
-- $64.5 million Class 17-A-1** rated at AAA
-- $5.3 million Class 17-A-2 rated at AA
-- $6.3 million Class 17-A-3 rated at A
-- $5.3 million Class 17-A-4 rated at BBB
-- $43.4 million Class 17-A-7* rated at AAA
-- $10.6 million Class 17-A-8* rated at AAA
-- $10.6 million Class 17-A-9* rated at AAA
-- $69.8 million Class 18-A-1** rated at AAA
-- $5.2 million Class 18-A-2 rated at AA
-- $5.2 million Class 18-A-3 rated at A
-- $5.2 million Class 18-A-4 rated at BBB
-- $49 million Class 18-A-7* rated at AAA
-- $10.4 million Class 18-A-8* rated at AAA
-- $10.4 million Class 18-A-9* rated at AAA
-- $37.4 million Class 19-A-1** rated at AAA
-- $5.2 million Class 19-A-2 rated at AA
-- $5.2 million Class 19-A-3 rated at A
-- $5.2 million Class 19-A-4 rated at BBB
-- $16.6 million Class 19-A-7* rated at AAA
-- $10.4 million Class 19-A-8* rated at AAA
-- $10.4 million Class 19-A-9* rated at AAA
-- $64.5 million Class 20-A-1** rated at AAA
-- $4.9 million Class 20-A-2 rated at AA
-- $4.9 million Class 20-A-3 rated at A
-- $5.9 million Class 20-A-4 rated at BBB
-- $44.9 million Class 20-A-7* rated at AAA
-- $9.8 million Class 20-A-8* rated at AAA
-- $9.8 million Class 20-A-9* rated at AAA
-- $52.3 million Class 21-A-1** rated at AAA
-- $5.5 million Class 21-A-2 rated at AA
-- $4.6 million Class 21-A-3 rated at A
-- $5.5 million Class 21-A-4 rated at BBB
-- $33.9 million Class 21-A-7* rated at AAA
-- $9.2 million Class 21-A-8* rated at AAA
-- $9.2 million Class 21-A-9* rated at AAA
-- $52 million Class 22-A-1** rated at AAA
-- $4.1 million Class 22-A-2 rated at AA
-- $4.1 million Class 22-A-3 rated at A
-- $4.9 million Class 22-A-4 rated at BBB
-- $35.8 million Class 22-A-7* rated at AAA
-- $8.1 million Class 22-A-8* rated at AAA
-- $8.1 million Class 22-A-9* rated at AAA
-- $47.5 million Class 23-A-1** rated at AAA
-- $3.8 million Class 23-A-2 rated at AA
-- $4.6 million Class 23-A-3 rated at A
-- $3.8 million Class 23-A-4 rated at BBB
-- $32.2 million Class 23-A-7* rated at AAA
-- $7.7 million Class 23-A-8* rated at AAA
-- $7.7 million Class 23-A-9* rated at AAA
-- $38.7 million Class 24-A-1** rated at AAA
-- $3.7 million Class 24-A-2 rated at AA
-- $4.5 million Class 24-A-3 rated at A
-- $4.5 million Class 24-A-4 rated at BBB
-- $23.8 million Class 24-A-7* rated at AAA
-- $7.4 million Class 24-A-8* rated at AAA
-- $7.4 million Class 24-A-9* rated at AAA
-- $43.6 million Class 25-A-1** rated at AAA
-- $4.4 million Class 25-A-2 rated at AA
-- $3.6 million Class 25-A-3 rated at A
-- $4.4 million Class 25-A-4 rated at BBB
-- $29.1 million Class 25-A-7* rated at AAA
-- $7.3 million Class 25-A-8* rated at AAA
-- $7.3 million Class 25-A-9* rated at AAA
-- $5.6 million Class 26-A-1** rated at AAA
-- $2.8 million Class 26-A-2 rated at AA
-- $3.5 million Class 26-A-3 rated at A
-- $2.8 million Class 26-A-4 rated at BBB
-- $2.1 million Class 26-A-7* rated at AAA
-- $1.7 million Class 26-A-8* rated at AAA
-- $1.7 million Class 26-A-9* rated at AAA
-- $42.5 million Class 27-A-1** rated at AAA
-- $3.1 million Class 27-A-2 rated at AA
-- $3.1 million Class 27-A-3 rated at A
-- $2.5 million Class 27-A-4 rated at BBB
-- $30.2 million Class 27-A-7* rated at AAA
-- $6.2 million Class 27-A-8* rated at AAA
-- $6.2 million Class 27-A-9* rated at AAA
-- $24.1 million Class 28-A-1** rated at AAA
-- $3 million Class 28-A-2 rated at AA
-- $3 million Class 28-A-3 rated at A
-- $3 million Class 28-A-4 rated at BBB
-- $12 million Class 28-A-7* rated at AAA
-- $6 million Class 28-A-8* rated at AAA
-- $6 million Class 28-A-9* rated at AAA
-- $21 million Class 29-A-1** rated at AAA
-- $2.7 million Class 29-A-2 rated at AA
-- $3.2 million Class 29-A-3 rated at A
-- $2.7 million Class 29-A-4 rated at BBB
-- $10.2 million Class 29-A-7* rated at AAA
-- $5.4 million Class 29-A-8* rated at AAA
-- $5.4 million Class 29-A-9* rated at AAA
-- $33.2 million Class 30-A-1** rated at AAA
-- $3.1 million Class 30-A-2 rated at AA
-- $2.6 million Class 30-A-3 rated at A
-- $2.6 million Class 30-A-4 rated at BBB
-- $22.8 million Class 30-A-7* rated at AAA
-- $5.2 million Class 30-A-8* rated at AAA
-- $5.2 million Class 30-A-9* rated at AAA
-- $28.9 million Class 31-A-1** rated at AAA
-- $2.9 million Class 31-A-2 rated at AA
-- $2.4 million Class 31-A-3 rated at A
-- $2.9 million Class 31-A-4 rated at BBB
-- $19.1 million Class 31-A-7* rated at AAA
-- $4.9 million Class 31-A-8* rated at AAA
-- $4.9 million Class 31-A-9* rated at AAA
-- $28.1 million Class 32-A-1** rated at AAA
-- $2.2 million Class 32-A-2 rated at AA
-- $2.2 million Class 32-A-3 rated at A
-- $2.2 million Class 32-A-4 rated at BBB
-- $19.2 million Class 32-A-7* rated at AAA
-- $4.5 million Class 32-A-8* rated at AAA
-- $4.5 million Class 32-A-9* rated at AAA
-- $24 million Class 33-A-1** rated at AAA
-- $2.2 million Class 33-A-2 rated at AA
-- $2.7 million Class 33-A-3 rated at A
-- $2.2 million Class 33-A-4 rated at BBB
-- $15.1 million Class 33-A-7* rated at AAA
-- $4.4 million Class 33-A-8* rated at AAA
-- $4.4 million Class 33-A-9* rated at AAA
-- $24.8 million Class 34-A-1** rated at AAA
-- $2.6 million Class 34-A-2 rated at AA
-- $2.2 million Class 34-A-3 rated at A
-- $2.6 million Class 34-A-4 rated at BBB
-- $16.1 million Class 34-A-7* rated at AAA
-- $4.4 million Class 34-A-8* rated at AAA
-- $4.4 million Class 34-A-9* rated at AAA
-- $24.8 million Class 35-A-1** rated at AAA
-- $2.2 million Class 35-A-2 rated at AA
-- $1.7 million Class 35-A-3 rated at A
-- $2.2 million Class 35-A-4 rated at BBB
-- $16.1 million Class 35-A-7* rated at AAA
-- $4.4 million Class 35-A-8* rated at AAA
-- $4.4 million Class 35-A-9* rated at AAA
-- $14.1 million Class 36-A-1** rated at AAA
-- $2.1 million Class 36-A-2 rated at AA
-- $2.1 million Class 36-A-3 rated at A
-- $2.1 million Class 36-A-4 rated at BBB
-- $5.8 million Class 36-A-7* rated at AAA
-- $4.1 million Class 36-A-8* rated at AAA
-- $4.1 million Class 36-A-9* rated at AAA
-- $27.7 million Class 37-A-1** rated at AAA
-- $2 million Class 37-A-2 rated at AA
-- $2 million Class 37-A-3 rated at A
-- $2 million Class 37-A-4 rated at BBB
-- $19.5 million Class 37-A-7* rated at AAA
-- $4.1 million Class 37-A-8* rated at AAA
-- $4.1 million Class 37-A-9* rated at AAA
-- $6.7 million Class 38-A-1** rated at AAA
-- $2 million Class 38-A-2 rated at AA
-- $1.6 million Class 38-A-3 rated at A
-- $2 million Class 38-A-4 rated at BBB
-- $2.8 million Class 38-A-7* rated at AAA
-- $2 million Class 38-A-8* rated at AAA
-- $2 million Class 38-A-9* rated at AAA
-- $15.9 million Class 39-A-1** rated at AAA
-- $1.9 million Class 39-A-2 rated at AA
-- $2.3 million Class 39-A-3 rated at A
-- $1.9 million Class 39-A-4 rated at BBB
-- $8.3 million Class 39-A-7* rated at AAA
-- $3.8 million Class 39-A-8* rated at AAA
-- $3.8 million Class 39-A-9* rated at AAA
-- $19.5 million Class 40-A-1** rated at AAA
-- $1.8 million Class 40-A-2 rated at AA
-- $1.8 million Class 40-A-3 rated at A
-- $2.2 million Class 40-A-4 rated at BBB
-- $12.2 million Class 40-A-7* rated at AAA
-- $3.7 million Class 40-A-8* rated at AAA
-- $3.7 million Class 40-A-9* rated at AAA
-- $19.4 million Class 41-A-1** rated at AAA
-- $2.2 million Class 41-A-2 rated at AA
-- $1.8 million Class 41-A-3 rated at A
-- $2.2 million Class 41-A-4 rated at BBB
-- $12.1 million Class 41-A-7* rated at AAA
-- $3.7 million Class 41-A-8* rated at AAA
-- $3.7 million Class 41-A-9* rated at AAA
-- $2.9 million Class 42-A-1** rated at AAA
-- $1.8 million Class 42-A-2 rated at AA
-- $1.4 million Class 42-A-3 rated at A
-- $1.4 million Class 42-A-4 rated at BBB
-- $1.1 million Class 42-A-7* rated at AAA
-- $0.9 million Class 42-A-8* rated at AAA
-- $0.9 million Class 42-A-9* rated at AAA
-- $18.5 million Class 43-A-1** rated at AAA
-- $1.7 million Class 43-A-2 rated at AA
-- $1.7 million Class 43-A-3 rated at A
-- $1.7 million Class 43-A-4 rated at BBB
-- $11.6 million Class 43-A-7* rated at AAA
-- $3.4 million Class 43-A-8* rated at AAA
-- $3.4 million Class 43-A-9* rated at AAA
-- $8.9 million Class 44-A-1** rated at AAA
-- $1.4 million Class 44-A-2 rated at AA
-- $1.7 million Class 44-A-3 rated at A
-- $1.7 million Class 44-A-4 rated at BBB
-- $2.1 million Class 44-A-7* rated at AAA
-- $3.4 million Class 44-A-8* rated at AAA
-- $3.4 million Class 44-A-9* rated at AAA
-- $18.5 million Class 45-A-1** rated at AAA
-- $1.7 million Class 45-A-2 rated at AA
-- $1.7 million Class 45-A-3 rated at A
-- $1.7 million Class 45-A-4 rated at BBB
-- $11.7 million Class 45-A-7* rated at AAA
-- $3.4 million Class 45-A-8* rated at AAA
-- $3.4 million Class 45-A-9* rated at AAA
-- $19.8 million Class 46-A-1** rated at AAA
-- $1.9 million Class 46-A-2 rated at AA
-- $1.5 million Class 46-A-3 rated at A
-- $1.5 million Class 46-A-4 rated at BBB
-- $13.6 million Class 46-A-7* rated at AAA
-- $3.1 million Class 46-A-8* rated at AAA
-- $3.1 million Class 46-A-9* rated at AAA
-- $13.5 million Class 47-A-1** rated at AAA
-- $1.5 million Class 47-A-2 rated at AA
-- $1.5 million Class 47-A-3 rated at A
-- $1.5 million Class 47-A-4 rated at BBB
-- $7.5 million Class 47-A-7* rated at AAA
-- $3 million Class 47-A-8* rated at AAA
-- $3 million Class 47-A-9* rated at AAA
-- $13.5 million Class 48-A-1** rated at AAA
-- $1.6 million Class 48-A-2 rated at AA
-- $1.3 million Class 48-A-3 rated at A
-- $1.6 million Class 48-A-4 rated at BBB
-- $8.2 million Class 48-A-7* rated at AAA
-- $2.7 million Class 48-A-8* rated at AAA
-- $2.7 million Class 48-A-9* rated at AAA
-- $16.8 million Class 49-A-1** rated at AAA
-- $1.3 million Class 49-A-2 rated at AA
-- $1.3 million Class 49-A-3 rated at A
-- $1.3 million Class 49-A-4 rated at BBB
-- $11.6 million Class 49-A-7* rated at AAA
-- $2.6 million Class 49-A-8* rated at AAA
-- $2.6 million Class 49-A-9* rated at AAA
-- $10.8 million Class 50-A-1** rated at AAA
-- $1.2 million Class 50-A-2 rated at AA
-- $1.5 million Class 50-A-3 rated at A
-- $1.2 million Class 50-A-4 rated at BBB
-- $5.9 million Class 50-A-7* rated at AAA
-- $2.5 million Class 50-A-8* rated at AAA
-- $2.5 million Class 50-A-9* rated at AAA
-- $11.9 million Class 52-A-1** rated at AAA
-- $1.3 million Class 52-A-2 rated at AA
-- $1.1 million Class 52-A-3 rated at A
-- $1.1 million Class 52-A-4 rated at BBB
-- $7.5 million Class 52-A-7* rated at AAA
-- $2.2 million Class 52-A-8* rated at AAA
-- $2.2 million Class 52-A-9* rated at AAA
-- $10.8 million Class 53-A-1** rated at AAA
-- $1.1 million Class 53-A-2 rated at AA
-- $0.9 million Class 53-A-3 rated at A
-- $1.1 million Class 53-A-4 rated at BBB
-- $7.3 million Class 53-A-7* rated at AAA
-- $1.8 million Class 53-A-8* rated at AAA
-- $1.8 million Class 53-A-9* rated at AAA
-- $3.7 million Class 55-A-1** rated at AAA
-- $0.5 million Class 55-A-2 rated at AA
-- $0.5 million Class 55-A-3 rated at A
-- $0.5 million Class 55-A-4 rated at BBB
-- $1.8 million Class 55-A-7* rated at AAA
-- $1 million Class 55-A-8* rated at AAA
-- $1 million Class 55-A-9* rated at AAA
-- $0.8 million Class 56-A-1** rated at AAA
-- $0.3 million Class 56-A-2 rated at AA
-- $0.3 million Class 56-A-3 rated at A
-- $0.3 million Class 56-A-4 rated at BBB
-- $0.3 million Class 56-A-7* rated at AAA
-- $0.2 million Class 56-A-8* rated at AAA
-- $0.2 million Class 56-A-9* rated at AAA

There are a total of 71 groups in this resecuritization trust. DBRS rates Groups 1 through 50, 52, 53, 55 and 56, each consisting of one seasoned senior residential mortgage-backed security (RMBS). The ratings on the notes reflect the credit enhancement provided by subordination. The ratings also reflect the quality of the underlying securities. Certain classes of notes (Exchangeable REMIC Notes) are exchangeable for certain other classes of notes (Exchangeable Notes) and vice versa, in the combinations described in Annex II of the private placement memorandum.

Other than the specified classes above, DBRS does not rate any other securities in this transaction.

Interest and principal payments on the securities will generally be made two business days following the underlying distribution date commencing in July 2010. The June 2010 Distribution Date for all the Securities will be June 30, 2010. Interest will be distributed on a pro rata basis to the notes. Principal will be distributed on a sequential basis to the notes, in the order of priority specified in the private placement memorandum, until the principal balances thereof are reduced to zero.

Any losses realized from the underlying securities will be allocated in a reverse sequential order to the notes.

The DBRS-rated groups within the Trust are resecuritizations backed by fifty four seasoned senior RMBS, represented by various real estate mortgage investment conduits (REMICs). The REMICs are backed by pools of prime and Alt-A, adjustable- and fixed-rate, first-lien, one- to four-family residential mortgages.

Notes:

• denotes Exchangeable Note.
  ** denotes Exchangeable REMIC Note.

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.