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Rating Action:


20 Jul 2006

Approximately $586 Million of Asset-Backed Securities Rated

New York, July 20, 2006 -- Moody's Investors Service has assigned a Aaa rating to the senior certificates issued by CWABS Asset-Backed Certificates Trust 2006-9, and ratings ranging from Aa1 to Baa3 to the subordinate certificates in the deal.

The securitization is backed by Countrywide Home Loans Inc originated, fixed and adjustable-rate, subprime mortgage loans acquired by Countrywide Financial Corporation. It is segregated into two distinct certificate groups. Certificate group one is backed by loan group one and certificate group two is backed by loan groups two and three.

Certificate group one ratings are based primarily on the credit quality of the loans, and on the protection from subordination, overcollateralization (OC) and excess spread. Moody's expect collateral losses in loan group one to range from 3.20% to 3.70%.

Certificate group two ratings are based primarily on the credit quality of the loans, and on the protection from subordination, overcollateralization (OC), excess spread and an interest rate swap agreement provided by Bear Stearns Financial Products Inc. Moody's expect aggregate collateral losses in loan groups two and three to range from 4.60% to 5.10%.

Countrywide Home Loans Servicing LP will act as master servicer.


Issuer: CWABS Asset-Backed Certificates Trust 2006-9

Certificate Group One Ratings

Cl. 1-AF-1, Assigned Aaa

Cl. 1-AF-2, Assigned Aaa

Cl. 1-AF-3, Assigned Aaa

Cl. 1-AF-4, Assigned Aaa

Cl. 1-AF-5, Assigned Aaa

Cl. 1-AF-6, Assigned Aaa

Cl. A-R, Assigned Aaa

Cl. MF-1, Assigned Aa1

Cl. MF-2, Assigned Aa2

Cl. MF-3, Assigned Aa3

Cl. MF-4, Assigned A1

Cl. MF-5, Assigned A2

Cl. MF-6, Assigned A3

Cl. MF-7, Assigned Baa1

Cl. MF-8, Assigned Baa2

Cl. BF, Assigned Baa3

Certificate Group Two Ratings

Cl. 2-AV, Assigned Aaa

Cl. 3-AV-1, Assigned Aaa

Cl. 3-AV-2, Assigned Aaa

Cl. 3-AV-3, Assigned Aaa

Cl. 3-AV-4, Assigned Aaa

Cl. MV-1, Assigned Aa1

Cl. MV-2, Assigned Aa2

Cl. MV-3, Assigned Aa3

Cl. MV-4, Assigned A1

Cl. MV-5, Assigned A2

Cl. MV-6, Assigned A3

Cl. MV-7, Assigned Baa1

Cl. MV-8, Assigned Baa2

Cl. BV, Assigned Baa3

Class MF-7, Class MF-8, Class BF, Class MV-7, Class MV-8, and Class BV have been sold in a privately negotiated transaction without registration under the Securities Act of 1933 (the Act) under circumstances reasonably designed to preclude a distribution thereof in violation of the Act. The issuance has been designed to permit resale under rule 144A.

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New York
Joseph Grohotolski
Vice President - Senior Analyst
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

New York
Mark DiRienz
Managing Director
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

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