Fitch Rates UBS-Barclays Commercial Mortgage Trust 2012-C4

NEW YORK--()--Fitch Ratings has assigned the following ratings to UBS-Barclays Commercial Mortgage Trust 2012-C4 commercial mortgage pass-through certificates, series 2012-C4:

--$84,000,000 class A-1 'AAAsf'; Outlook Stable;

--$73,267,000 class A-2 'AAAsf'; Outlook Stable;

--$132,000,000 class A-3 'AAAsf'; Outlook Stable;

--$150,000,000 class A-4 'AAAsf'; Outlook Stable;

--$476,000,000 class A-5 'AAAsf'; Outlook Stable;

--$104,000,000 class A-AB 'AAAsf'; Outlook Stable;

--$145,610,000a class A-S 'AAAsf'; Outlook Stable;

--$1,164,877,000*a class X-A 'AAAsf'; Outlook Stable;

--$134,689,000*a class X-B 'A-sf'; Outlook Stable;

--$69,164,000a class B 'AA-sf'; Outlook Stable;

--$65,525,000a class C 'A-sf'; Outlook Stable;

--$61,884,000a class D 'BBB-sf'; Outlook Stable;

--$25,481,000a class E 'BBsf'; Outlook Stable;

--$18,202,000a class F 'Bsf'; Outlook Stable.

*Notional amount and interest only.

(a) Privately placed pursuant to Rule 144A.

Fitch does not rate the $50,963,493 class G.

The certificates represent the beneficial ownership in the trust, primary assets of which are 89 loans secured by 131 commercial properties having an aggregate principal balance of approximately $1.46 billion as of the cutoff date. The loans were contributed to the trust by UBS Real Estate Securities, Inc.; Barclays Bank PLC; Natixis Real Estate Capital LLC; RAIT Partnership, LP; General Electric Capital Corp.; Redwood Commercial Mortgage Corporation; and The Bancorp Bank.

A detailed description of Fitch's rating analysis including key rating drivers, stresses, rating sensitivity, analysis, model, criteria application and data adequacy is available in Fitch's presale report dated Dec. 4, 2012.

Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'Criteria for Analyzing Multiborrower U.S. Commercial Mortgage Transactions' (Aug. 8, 2012);

--'Global Structured Finance Rating Criteria' (June 6, 2012);

--'Criteria for Special-Purpose Vehicles in Structured Finance Transactions' (May 30, 2012);

--'U.S. Commercial Mortgage Servicer Rating Criteria' (Feb. 18, 2011);

--'Surveillance Methodology for U.S. Fixed-Rate CMBS Transactions' (Nov. 16, 2011);

--'Counterparty Criteria for Structured Finance Transactions' (May 30, 2012).

Applicable Criteria and Related Research:

Criteria for Analyzing Multiborrower U.S. Commercial Mortgage Transactions

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=685995

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

Criteria for Special-Purpose Vehicles in Structured Finance Transactions

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=680591

U.S. Commercial Mortgage Servicer Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=584005

U.S. Fixed-Rate Multiborrower CMBS Surveillance and Re-REMIC Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=696969

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Contacts

Fitch Ratings
Primary Analyst
George Kaleh, +1-212-908-9140
Associate Director
Fitch, Inc.
One State Street Plaza
New York, NY 10004
or
Committee Chairperson
Robert Vrchota, +1-312-368-3336
Managing Director
or
Media Relations
Sandro Scenga, New York, +1 212-908-0278
sandro.scenga@fitchratings.com

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Contacts

Fitch Ratings
Primary Analyst
George Kaleh, +1-212-908-9140
Associate Director
Fitch, Inc.
One State Street Plaza
New York, NY 10004
or
Committee Chairperson
Robert Vrchota, +1-312-368-3336
Managing Director
or
Media Relations
Sandro Scenga, New York, +1 212-908-0278
sandro.scenga@fitchratings.com