OREANDA-NEWS. Fitch Ratings has affirmed nine classes of Credit Suisse Commercial Mortgage Trust, CSMC series 2010-RR4. A detailed list of rating actions follows at the end of this press release.

KEY RATING DRIVERS
The underlying class A-3 of CSMC 2007-C1 was affirmed by Fitch at 'AAAsf' with a Stable Outlook on Jan. 12, 2016. The underlying class A-3 of CSMC 2006-C4 was affirmed by Fitch at 'AAAsf' with a Stable Outlook on Dec. 16, 2015.

This transaction is a resecuritization of the ownership interest in two commercial mortgage-backed certificates. The transaction consists of two non-pooled re-REMIC bond groups each backed by one underlying super-senior bond. Each bond group is split into one senior and one support class of certificates. Principal and interest from the underlying commercial mortgage-backed certificates is applied to its respective bond group sequentially while losses from the underlying commercial mortgage-backed certificates are applied to their respective bond group in reverse sequential order.

Credit enhancement is approximately 60% for classes 1-A-A and 2-A-A; 50% for classes 1-A, 1-A-B, 2-A, and 2-A-B; 40% for classes 1-B-A and 2-B-A; and 30% for classes 1-B, 1-B-B, 2-B, and 2-B-B. Credit enhancement for each class is provided by the structural support of the underlying transaction and the respective subordinate classes in the resecuritization.

For additional information on the underlying securities, please see the releases 'Fitch Downgrades One Distressed Class of CSMC 2007-C1' (Jan. 12, 2016) and 'Fitch Affirms CSMC 2006-C4' (Dec. 16, 2015), available at 'www.fitchratings.com'.

RATING SENSITIVITIES
The following commercial mortgage-backed securities are collateral for the re-REMIC securities rated by Fitch:

Credit Suisse Commercial Mortgage Trust, Series 2007-C1
--10% interest in class A-3.

This transaction serves as collateral for the classes 1-A, 1-A-A, 1-A-B, 1-B, 1-B-A, and 1-B-B re-REMIC bonds. The class sizes below reflect the potential maximum certificate balance for each class given the exchangeable nature of the certificates. In aggregate, the total principal balance of this securitization cannot exceed $75,000,000.

CSMC 2007-C1 is currently backed by a pool of 169 multifamily and commercial loans with an aggregate remaining principal balance of $2.13 billion. The class A-3 certificates in the underlying transaction had 30.18% credit enhancement as of the December 2015 remittance date. In addition, the underlying A-3 bond is currently receiving principal paydown as the most senior class in the transaction. The Stable Outlook on the Re-REMIC classes 1-A, 1-A-A, and 1-A-B reflects that no rating changes are anticipated as the classes have implied credit enhancement equal to or greater than the underlying bond. The structural support of the underlying transaction is sufficient to maintain the current rating should loss expectations increase for the specially serviced loans.

The underlying class has paid down by approximately $168.4 million since issuance, further supporting affirmation of the re-REMIC bonds.

Credit Suisse Commercial Mortgage Trust, Series 2006-C4
--4.1% interest in class A-3.

This transaction serves as collateral for the classes 2-A, 2-A-A, 2-A-B, 2-B, 2-B-A and 2-B-B re-REMIC bonds. The class sizes below reflect the potential maximum certificate balance for each class given the exchangeable nature of the certificates. In aggregate, the total principal balance of this securitization cannot exceed $75,000,000.

CSMC 2006-C4 is currently backed by a pool of 257 multifamily and commercial loans with an aggregate remaining principal balance of $2.94 billion. The class A-3 certificates in the underlying transaction had 31.95% credit enhancement as of the December 2015 remittance date. In addition, the underlying A-3 bond is currently receiving principal paydown as the most senior class in the transaction. The Stable Outlook on the Re-REMIC classes 2-A, 2-A-A, 2-A-B, 2-B, 2-B-A and 2-B-B reflects that no rating changes are anticipated as the classes have implied credit enhancement equal to or greater than the underlying bond. The structural support of the underlying transaction is sufficient to maintain the current rating should loss expectations increase for the specially serviced loans.

The underlying class has paid down by approximately $383.2 million since issuance, further supporting affirmation of the re-REMIC bonds.

Any extraordinary trust fund expenses incurred by the trustee up to the first $200,000 will be reimbursed to the trustee by an affiliate of the depositor. In the event extraordinary trust fund expenses exceed $200,000, they will be paid from available interest.

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

Fitch has affirmed the following ratings:

--$36,877,989* class 1-A at 'AAAsf'; Outlook Stable;
--$29,501,013** class 1-A-A at 'AAAsf'; Outlook Stable;
--$7,376,975** class 1-A-B at 'AAAsf'; Outlook Stable;
--$37,937,083* class 2-A at 'AAAsf'; Outlook Stable;
--$30,349,667** class 2-A-A at 'AAAsf'; Outlook Stable;
--$7,587,417** class 2-A-B at 'AAAsf'; Outlook Stable;
--$21,200,000* class 2-B at 'AAAsf'; Outlook Stable;
--$10,760,000** class 2-B-A at 'AAAsf'; Outlook Stable;
--$10,440,000** class 2-B-B at 'AAAsf'; Outlook Stable.

*Exchangeable certificates
**Exchangeable REMIC certificates

Fitch does not rate classes 1-B, 1-B-A and 1-B-B.