Fitch Affirms WBCMT 2003-C4

CHICAGO--(Business Wire)--Fitch Ratings has affirmed Wachovia Bank Commercial Mortgage
Trust's (WBCMT) commercial mortgage pass-through certificates, series
2003-C4, as follows:

--$212.1 million class A-1A at 'AAA';

--$304.9 million class A-2 at 'AAA';

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

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

--$34.6 million class B at 'AAA';

--$11.1 million class C at 'AAA';

--$22.3 million class D at 'AAA';

--$12.3 million class E at 'AAA';

--$12.3 million class F at 'AA';

--$12.3 million class G at 'A+';

--$12.3 million class H at 'A';

--$20.1 million class J at 'BBB+';

--$8.9 million class K at 'BBB';

--$6.7 million class L at 'BBB-';

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

--$1.1 million class N at 'BB-';

--$4.5 million class O at 'B+'.

Fitch does not rate the $22.3 million class P certificates and
class A-1 has paid in full.

The rating affirmations are due to the transaction's stable
performance since the last Fitch rating action. As of the January 2008
distribution date, the pool has paid down 21% to $704.3 million from
$891.8 million at issuance. In total nine loans (8.3%) have defeased.

Five (5%) loans are scheduled to mature in 2008 and have a
weighted average coupon of 5.48%. The largest loan (2.7%) is an office
property in Lacey, WA. The loan is scheduled to mature on March 11 and
the note rate is 5.35%.

Among the 2008 maturities is a multifamily property (0.6%) in
Atlanta, GA, that is also a Fitch loan of concern due to a decline in
occupancy to 71% as of June 2007 from issuance of 92%, and a reported
year end 2006 debt service coverage ratio on net cash flow (DSCR-NCF)
of 0.92 times (X). The maturity date for this loan is March 11 and the
note rate is 5.33%.

A second loan, a manufactured housing community (0.4%) in
Blackman, MI, was scheduled to mature on Jan. 1, 2008, but has been
granted a 60 day extension. This loan reported June 2007 occupancy of
94% and DSCR-NCF of 1.88x. The note rate is 5.26%.

Currently there are no specially serviced loans.

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.

Fitch Ratings
Renata Bitoy, +1-312-368-3116
Britt Johnson, +1-312-606-2341 (Chicago)
Media Relations:
Sandro Scenga, +1-212-908-0278 (New York)

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