DBRS Confirms Ratings on Swaps and Withdraws Ratings on Notes for Claris IV Limited Series 36

DBRS has today confirmed the ratings on the Class I-A Swap, Class I-B Swap, and Class I-C Swap issued by Claris IV Limited Series 36. DBRS has withdrawn the ratings on the Class II-A Note and Class II-B Note at the request of the issuer. Claris IV Limited Series 36 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 last assigned a DBRS rating on April 9, 2009, (b) amendments to the transaction as of October 13, 2010, and (c) additional subordination to the Claris IV Limited Series 36 Class I-A Swap, Class I-B Swap, and Class I-C Swap as of October 13, 2010.

-$140,000,000 Class I-A Swap, Series 36 at AA (low)
-$55,000,000 Class I-B Swap, Series 36 at A (low)
-$50,000,000 Class I-C Swap, Series 36 at BBB
-$15,000,000 Class II-A Note, Series 36 at WR*
-$40,000,000 Class II-B Note, Series 36 at WR*

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