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Bear Stearns Commercial Mortgage Securities Trust 2006-TOP22 -- Moody's upgrades four and affirms two classes of BSCMS 2006-TOP22

Moody's rating action reflects a base expected loss of 0.6% of the current pooled balance, compared to 1.0% at Moody's last review. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity.