DBRS Takes Various Rating Actions on Claris IV Limited Series 34

DBRS has today taken the following rating actions on the Classes issued by Claris IV Limited Series 34. Claris IV Limited Series 34 is collateralized primarily by a portfolio of U.S. residential mortgage-backed securities (RMBS) and other asset-backed securities (ABS). 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 actions reflect (a) the deterioration in credit quality of the underlying collateral pool since the transaction was initially assigned a DBRS rating on April 9, 2009, (b) amendments to the transaction, and (c) recapitalization of Claris IV Limited Series 34.

• $57,600,000 Class I-A Swap, Series 34 at AA (low)
• $6,400,000 Class I-B Swap, Series 34 at A (low)
• $14,400,000 Class I-C Swap, Series 34 at BB (low)
• $7,000,000 Class II-A Note, Series 34 at WR*
• $23,000,000 Class II-B Note, Series 34 at WR*

The applicable public methodology is Rating US & European Structured Finance CDO Restructurings, which can be found on our website under Methodologies.