OREANDA-NEWS. Fitch Ratings has affirmed 12 classes of Deutsche Bank Securities, Inc.'s COMM 2012-CCRE4 commercial mortgage pass-through certificates series 2012-CCRE4. A detailed list of rating actions follows at the end of this press release.

KEY RATING DRIVERS

The affirmations are based on the stable performance of the underlying collateral pool. The pool's aggregate principal balance has been reduced by 3.3% to \\$1.07 billion from \\$1.11 billion at issuance. The pool has no specially serviced or delinquent loans as of the August 2015 distribution date. There are three loans on the servicer watch list; however none are considered Fitch Loans of Concern.

Since Fitch's last rating action in September 2014, three specially serviced loans have liquidated; the loans were cross-collateralized and minimal losses (\\$86.6K) were incurred relative to the overall pool balance.

The largest loan in the pool (11.6% of the pool) is The Prince Building, a 354,603 square foot (sf) 12-story multi-use building located in the SoHo neighborhood of Manhattan, New York, NY. The property contains 281,522 sf of office space and 69,346 sf of retail space. Largest tenants include Scholastic Inc. (16.3% NRA, expiration April 2018) and ZocDoc (15.1% NRA, expiration July 2017). National retailers, such as Forever 21 and Equinox represent the retail portion of the rent roll. Performance has remained stable since issuance with 98% occupancy and a 2.45x DSCR as of year-end (YE) 2014.

The second largest loan in the pool (11.2% of the pool) is Eastview Mall and Commons, a loan collateralized by two adjacent retail properties located in Victor, NY (Rochester MSA). The Eastview Mall is a 1.37 million sf regional mall (725,303 sf is collateral) and Eastview Commons is a 341,871 sf power center (86,368 sf is collateral). The mall is anchored by Regal Cinemas, JCPenney, Lord & Taylor, Macy's, Sears, and a Von Maur store. Of the anchors, only Regal Cinemas (17.5% NRA of total collateral, expiration February 2026) serves as collateral for the loan. The power center is anchored by Target and Home Depot, which do not serve as collateral. As of YE 2014, occupancy and DSCR were 93% and 2.14x, respectively.

RATING SENSITIVITIES

The Rating Outlooks on all classes remain Stable. Due to stable performance since issuance, Fitch does not foresee positive or negative ratings migration until a material economic or asset level event changes the transaction's overall portfolio-level metrics. Additional information on rating sensitivity is available in the 'COMM 2012-CCRE4' (Dec. 21, 2012) New Issue report, available at www.fitchratings.com.

DUE DILIGENCE USAGE

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

Fitch has affirmed the following ratings as indicated:
--\\$22.3 million class A-1 at 'AAAsf'; Outlook Stable;
--\\$148.7 million class A-2 at 'AAAsf'; Outlook Stable;
--\\$70.6 million class A-SB at 'AAAsf'; Outlook Stable;
--\\$499.4 million class A-3 at 'AAAsf'; Outlook Stable;
--\\$852,002,587* class X-A 'AAAsf'; Outlook Stable;
--\\$104,156,000* class X-B 'A-sf'; Outlook Stable;
--\\$111.1 million class A-M at 'AAAsf'; Outlook Stable;
--\\$62.3 million class B at 'AA-sf'; Outlook Stable;
--\\$38.9 million class C at 'A-sf'; Outlook Stable;
--\\$45.8 million class D at 'BBB-sf'; Outlook Stable;
--\\$19.4 million class E at 'BBsf'; Outlook Stable;
--\\$18.1 million class F at 'Bsf'; Outlook Stable.

*Notional amount and interest only.

Fitch does not rate the class G certificates.

A comparison of the transaction's Representations, Warranties, and Enforcement (RW&E) mechanisms to those of typical RW&Es for the asset class is available in the following report:

--'COMM 2012-CCRE4: Appendix' (Dec. 21, 2012).