Fitch Affirms LBUBS 2004-C6.

NEW YORK -- Fitch Ratings affirms LBUBS's commercial mortgage pass-through certificates, series 2004-C6, as follows:

--$59.8 million class A-1 at 'AAA';

--$186.1 million class A-1A at 'AAA';

--$222 million class A-2 at 'AAA';

--$109 million class A-3 at 'AAA';

--$60 million class A-4 at 'AAA';

--$54 million class A-5 at 'AAA';

--$470.1 million class A-6 at 'AAA';

--Interest-only class X-CL at 'AAA';

--Interest-only class X-CP at 'AAA';

--$13.5 million class B at 'AA+';

--$23.6 million class C at 'AA';

--$15.1 million class D at 'AA-';

--$13.5 million class E at 'A+';

--$15.1 million class F at 'A';

--$11.8 million class G at 'A-';

--$11.8 million class H at 'BBB+';

--$8.4 million class J at 'BBB';

--$16.8 million class K at 'BBB-';

--$1.7 million class L at 'BB+';

--$6.7 million class M at 'BB';

--$5.0 million class N at 'BB-'.

Fitch does not rate the $3.4 million class P certificate, $1.7 million class Q certificate, $1.7 million class S certificate and $15.1 million class T certificate.

The rating affirmations reflect the stable performance and minimal paydown to date. As of the January 2007 distribution date, the pool's collateral balance has paid down 1.5% to $1.32 billion from $1.34 billion at issuance. Five loans have defeased (6.7%) since the last rating action.

There are two loans (2.1%) in special servicing. The largest specially serviced asset (1.4%) is a hotel located in Lyndhurst, NJ that was assumed without the Lender's consent. The special servicer is working with the new borrower to cure the default.

The second specially serviced asset (0.70%) is a hotel located in Southampton, NY. The asset is currently 30 days delinquent and the special servicer has approved a stabilization plan that will bring the loan current.

An additional loan (0.39%) is 30 days delinquent and collateralized by a 51,118 square foot (sf) office building in Boynton Beach, Florida.

Fitch maintains investment-grade credit assessments on seven loans in the trust: Northshore Mall (15.5%), Westfield North Bridge (5.0%), Two Penn Plaza (2.7%), 2000 Pennsylvania Avenue (4.6%), Pacific Beach Hotel (2.5%), GWU Hotel Portfolio (0.8%) and 1030-1048 Third Avenue (0.7%).

The collateral for the Northshore Mall consists of 808,360 square feet (sf) in a 1.7 million sf, anchored retail center located in Peabody, MA, which was built in 1958 and renovated in 1977 and 1993. Third quarter 2006 occupancy was 95%.

The Westfield North Bridge loan is a 682,418 sf regional mall in Chicago, IL, which was built in 2000. The whole loan is split into three, pari-passu A-notes; the A-1 and A-2 notes of this loan have been contributed to this transaction. Second quarter 2006 occupancy was 95%.

Two Penn Plaza is secured by a 1.5 million sf, class A office property in New York, NY, which was built in 1968 and renovated in 1991. The whole loan has an A-B note structure, both of which are further split into two pari-passu notes; the A-2 note was contributed to this transaction. Second quarter 2006 occupancy was 94.5% 2000 Pennsylvania Avenue is a 362,488 sf office building located in the Foggy Bottom neighborhood of Washington, DC. Second quarter 2006 occupancy was 92%.

Pacific Beach Hotel is secured by an 837-room full-service, beachfront hotel with a 29,223 sf indoor shopping mall located in Honolulu, HI. Third quarter 2006 occupancy was 85%.

The collateral for the George Washington University Hotel Portfolio consists of two, cross-collateralized and cross-defaulted, full-service hotels, located in Washington, DC: the 151-room One Washington Circle Hotel and the 95-room George Washington University Inn.

1030-1048 Third Avenue, 163-165 East 61st Street, 160-162 East 162nd Street is a mixed-use property, comprised of 8,636 sf ground floor retail portion of the Trump Plaza Apartments, two adjacent residential buildings and a 128-space garage. The property is situated in prime retail space on Third Avenue in the Upper East Side of New York City.

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