Moody's: CSMC 2006-C4 Ratings Unaffected by the Proposed Transfer of Special Servicing Rights

New York, December 14, 2015 -- Moody's Investors Service was informed that the Holder of Certificates representing more than 50% of the Class Principal Balance of the Controlling Class intends to replace National Cooperative Bank, N.A. ("NCB") under the Pooling and Servicing Agreement for the captioned transaction, and to appoint C-III Asset Management LLC ("C-III") as the successor Special Servicer No. 2. The Proposed Special Servicer replacement will become effective upon satisfaction of the conditions precedent set forth in the Pooling and Servicing Agreement.

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