TEXT-S&P cuts Banc of America Large Loan 2006-BIX1 rating

OVERVIEW
-- We lowered our rating to 'D (sf)' from 'CCC- (sf)' on class K from
Banc of America Large Loan Inc.'s series 2006-BIX1, a U.S. CMBS transaction.
-- The downgrade reflects accumulated interest shortfalls that we believe
will remain outstanding for the foreseeable future.

NEW YORK (Standard & Poor's) Oct. 9, 2012--Standard & Poor's Ratings Services
today lowered its rating to 'D (sf)' from 'CCC- (sf)' on the class K
commercial mortgage pass-through certificates from Banc of America Large Loan
Inc.'s series 2006-BIX1, a U.S. commercial mortgage-backed securities (CMBS)
transaction.

As of the Sept. 17, 2012, trustee remittance report, the pooled trust has
three loans remaining totaling $172.3 million. The pooled trust had
experienced monthly interest shortfalls totaling $80,780 due primarily to an
interest rate modification for the Ballantyne Village loan. The interest
shortfalls have affected all of classes subordinate to and including class K.
Class K has experienced interest shortfalls for 10 consecutive months.

The Ballantyne Village loan, the smallest loan in the pool, has a trust
balance of $31.5 million (18.3%) and a whole-loan balance of $50.0 million.
The loan is secured by a 166,041-sq.-ft. class A lifestyle center in
Charlotte, N.C. The loan was transferred to the special servicer, Bank of
America N.A. (BofA), on July 9, 2009, after the borrower submitted a request
to restructure the loan due to a decline in cash flow at the property because
two of the largest tenants stopped paying rent. According to BofA, the loan
was performing under a forbearance agreement effective March 15, 2011. Among
other things, the forbearance agreement stipulates that the borrower will
contribute cash under certain conditions and pay interest on $14.0 million of
the $31.5 million trust balance. In addition, the agreement allowed interest
on the remaining $17.5 million trust balance to be deferred, and the borrower
had until Oct. 1, 2012 (end of forbearance period) to make the release payment
as defined in the forbearance agreement or turn over title of the property to
the trust. The borrower has agreed to release the title via a deed in lieu.
The trust is scheduled to take title on Nov. 1, 2012. As a result, we expect
the accumulated interest shortfalls to remain outstanding for the foreseeable
future.

STANDARD & POOR'S 17G-7 DISCLOSURE REPORT

SEC Rule 17g-7 requires an NRSRO, for any report accompanying a credit rating
relating to an asset-backed security as defined in the Rule, to include a
description of the representations, warranties and enforcement mechanisms
available to investors and a description of how they differ from the
representations, warranties and enforcement mechanisms in issuances of similar
securities. The Rule applies to in-scope securities initially rated (including
preliminary ratings) on or after Sept. 26, 2011.

If applicable, the Standard & Poor's 17g-7 Disclosure Reports included in this
credit rating report are available atRELATED CRITERIA AND RESEARCH
-- Banc of America Large Loan Inc. Series 2006-BIX1 Ratings Lowered On
Four Classes; Six Other Ratings Affirmed, Dec. 21, 2011
-- Global Structured Finance Scenario And Sensitivity Analysis: The
Effects Of The Top Five Macroeconomic Factors, Nov. 4, 2011
-- Rating U.S. CMBS In The Face Of Interest Shortfalls, Feb. 23, 2006