DBRS Assigns AA (sf) Rating to the Series 2010-4 Class A Notes of Metropolis II, LLC

DBRS has today assigned a rating of AA (sf) to the Series 2010-4 Class A Notes of Metropolis II, LLC. The rating addresses the timely payment of interest and the ultimate payment of principal on or before the Final Maturity Date of October 2039. Metropolis II, LLC Series 2010-4 is a repackaging of $403,376,299 Triaxx Prime CDO 2006-2, Ltd. Class A-1A Notes which are backed by a pool of U.S. residential mortgage-backed securities. The $237,992,000 Series 2010-4 Class A Notes are supported by $165,384,000 unrated Series 2010-4 Class B Notes.

The rating reflects the following:

(1) Legal review of the Metropolis II, LLC Series 2010-4 structure.

(2) Default and loss analysis on the pools backing the structured finance obligations held by Triaxx Prime CDO 2006-2, Ltd.

(3) Cash flow analysis on:
(a) The structured finance obligations held by Triaxx Prime CDO 2006-2, Ltd.
(b) Triaxx Prime CDO 2006-2, Ltd.
(c) Metropolis II, LLC Series 2010-4

(4) Analysis of the expected level of credit support, in the form of subordination and overcollateralization, within Triaxx Prime CDO 2006-2, Ltd. and Metropolis II, LLC Series 2010-4.

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

Note:
All figures are in dollars unless otherwise noted.