ML-CFC Commercial Mortgage Trust 2006-4 Ratings Lowered On 20 Classes; Five Ratings Affirmed Sep 09

Standard & Poors, September 2009

Abstract
OVERVIEW We have lowered our ratings on 20 CMBS classes from ML-CFC Commercial Mortgage Trust 2006-4 and removed them from CreditWatch with negative implications. We have affirmed our ratings on five classes from the same transaction. The downgrades follow our analysis of the transaction using our recently released U.S. conduit and fusion CMBS criteria, which was the primary driver of the rating actions. NEW YORK (Standard & Poor's) Sept. 2, 2009--Standard & Poor's Ratings Services today lowered its ratings on 20 classes of commercial mortgage-backed securities (CMBS) from ML-CFC Commercial Mortgage Trust 2006-4 and removed them from CreditWatch with negative implications. We also affirmed our ratings on five classes from the same transaction (see list). The downgrades follow our analysis...

Companies mentioned in this report are:
- ML-CFC Commercial Mortgage Trust 2006-4

Action: Affirmed
Action: Downgraded
Action: Removed From CreditWatch

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- ML-CFC Commercial Mortgage Trust 2006-4

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