OREANDA-NEWS. Fitch Ratings has affirmed the ratings for all classes of RBSCF Trust 2009-RR1. A detailed list of the rating actions follows at the end of this press release.

KEY RATING DRIVERS
The affirmations are the result of the affirmation of the rating of the remaining underlying bond. This transaction is a re-securitization of the ownership interest in a single commercial mortgage-backed certificate, J.P. Morgan Chase Commercial Mortgage Securities Trust series 2008-C2 (JP Morgan 2008-C2) class A-4, which was affirmed at 'Asf' with a Negative Outlook on July 22, 2015 by Fitch. Principal and interest from the underlying commercial mortgage-backed certificate are applied to the class A and B certificates in sequential order, while losses are applied in reverse sequential order. As a re-securitization, the class will receive cash flows from the underlying class A-4 bonds and the rating is based on the underlying security.

RATING SENSITIVITIES
The class A certificates have a Stable Outlook based on the classes' senior position and higher credit enhancement. The class B certificate, which is a direct pass through to the underlying bond, maintains a Negative Outlook.

JP Morgan 2008-C2 is currently backed by a pool of 63 loans with an aggregate remaining principal balance of approximately $743 million. The class A-4 certificates in the underlying transaction had 26.4% credit enhancement, as of the June 2015 remittance date. The underlying class maintains its Negative Outlook based on a lack of updated values for certain of the specially serviced loans.

DUE DILIGENCE USAGE
No third party due diligence was provided or reviewed in relation to this rating action.

Fitch affirms the following classes:

Group JPMCC
--$36.3 million* class JPMCC-A at 'AAAsf'; Outlook Stable;
--$16.5 million** JPMCC-A1 at 'AAAsf'; Outlook Stable;
--$9.9 million** class JPMCC-A2 at 'AAAsf'; Outlook Stable;
--$9.9 million** class JPMCC-A3 at 'AAAsf'; Outlook Stable;
--$26.4 million** class JPMCC-A4 at 'AAAsf'; Outlook Stable;
--$19.8 million** class JPMCC-A5 at 'AAAsf'; Outlook Stable;
--$15.7 million class JPMCC-B at 'Asf'; Outlook Negative.

* Exchangeable REMIC Certificate
** Exchangeable Certificates