Fitch Rates Merrill Lynch Mortgage Trust, Series 2006-C1

Fitch rates Merrill Lynch Mortgage Trust, Series 2006-C1, commercial mortgage pass-through certificates as follows:

-- $91,545,000 class A-1 'AAA';

-- $380,444,000 class A-2 'AAA';

-- $134,000,000 class A-3 'AAA';

-- $25,000,000 class A-3B 'AAA';

-- $113,900,000 class A-SB 'AAA';

-- $753,353,000 class A-4 'AAA';

-- $244,645,000 class A-1A 'AAA';

-- $248,983,000 class AM 'AAA';

-- $217,861,000 class AJ 'AAA';

-- $2,489,838,694 class X(1) 'AAA';

-- $56,022,000 class B 'AA';

-- $28,010,000 class C 'AA-';

-- $31,123,000 class D 'A';

-- $18,674,000 class E 'A-';

-- $28,011,000 class F 'BBB+';

-- $21,786,000 class G 'BBB';

-- $24,898,000 class H 'BBB-';

-- $6,225,000 class J 'BB+';

-- $9,337,000 class K 'BB';

-- $6,224,000 class L 'BB-';

-- $6,225,000 class M 'B+';

-- $6,225,000 class N 'B';

-- $6,224,000 class P 'B-'.

(1) Notional Amount and Interest-Only.

The $31,123,694 class Q is not rated by Fitch. Classes A-1, A-2, A-3, A-3B, A-SB, A-4, A-1A, AM, AJ, B, C, and D are offered publicly, while classes E, F, G, H, J, K, L, M, N, P, Q and X are privately placed pursuant to rule 144A of the Securities Act of 1933. The certificates represent beneficial ownership interest in the trust, primary assets of which are 244 fixed-rate loans having an aggregate principal balance of approximately $2,489,838,695, as of the cutoff date.

For a detailed description of Fitch's rating analysis, please see the report titled 'Merrill Lynch Mortgage Trust, Series 2006-C1', dated May 8, 2006 and available on the Fitch Ratings web site at'www.fitchratings.com'.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, 'www.fitchratings.com'. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.