Fitch Rates Wells Fargo Stage Trust, Series 2009-46C Floater & Residual Certificates

NEW YORK--(Business Wire)--
Fitch Ratings assigns a rating of 'AA-/F1+' to the floater certificates and a
rating of 'AA-' to the residual certificates of Wells Fargo Stage Trust series
2009-46C. The long-term 'AA-' rating is based on the higher of the rating that
Fitch has assigned to the City of Oakland, general obligation bonds (series
2009B, measure DD currently rated 'A+') deposited in the Trust and the custody
level credit enhancement provided by Wells Fargo & Company (currently rated
'AA-/F1+') securing the custodial receipts deposited into the Trust. The
short-term 'F1+' rating is based on the liquidity facility provided by Wells
Fargo & Company. The 'F1+' rating will expire on July 15, 2010, the expiration
date of the liquidity facility, unless such date is extended or earlier
terminated.

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, New York
Mary Jane Ziga, +1-212-908-0529
Media Relations:
Cindy Stoller, +1-212-908-0526
cindy.stoller@fitchratings.com

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