OREANDA-NEWS. Fitch Ratings has downgraded one class and affirmed six classes of RBSCF Trust 2009-RR1. A detailed list of rating actions follows at the end of this press release.

KEY RATING DRIVERS

The downgrade of class JPMCC-B reflects the downgrade of the rating of the 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 Fitch downgraded to 'BBBsf'/Outlook Negative on July 13, 2016 largely due to higher expected losses on the specially serviced loans as a result of recent valuations providing lower recovery estimates. 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. The affirmations of the class A certificates reflect the senior position and higher credit enhancement of those classes.

RATING SENSITIVITIES

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

JP Morgan 2008-C2 is currently backed by a pool of 62 loans with an aggregate remaining principal balance of approximately $728 million. The class A-4 certificates in the underlying transaction had 26.5% credit enhancement, as of the June 2016 remittance date. The Rating Outlook for the underlying class remains Negative based on a lack of updated values for certain of the specially serviced loans as well as the limited progress made on the workout strategies.

For additional information on the underlying security please see, 'Fitch Downgrades Three Classes of JP Morgan 2008-C2'', dated July 13, 2016), which is available at 'www. fitchratings. com'.

DUE DILIGENCE USAGE

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

Fitch downgrades the following ratings:

RBSCF Trust 2009-RR1

--$15.7 million class JPMCC-B to 'BBBsf' from 'Asf'; Outlook Negative.

Fitch affirms the following ratings:

--$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.

* Exchangeable REMIC Certificate

** Exchangeable Certificates

The Group CSMC Class A and B certificates, classes CSMC-A, CSMC-A-1, CSMC-A2, CSMC-A3, CSMC-A4, CSMC-A5, and CSMC-B, have paid in full.