DBRS Confirms Ratings on Goldfish Master Trust B.V.

DBRS, Inc. (DBRS) has confirmed ratings on the outstanding Series of Notes of Goldfish Master trust B.V. Goldfish is a EUR25 billion, fully revolving continuous-issuance programme backed by standard prime Dutch mortgages originated by subsidiaries of ABN AMRO Bank N.V. with the benefit of the Nationale Hypotheek Garantie (NHG). The NHG guarantee is provided by a Dutch government sponsored institution, the WEW – Homeownership Guarantee Fund. The guarantee covers for potential losses of mortgage loans after the foreclosure process. ABN AMRO Bank N.V. is a public limited liability company incorporated under Dutch law on April 9, 2009.

On August 22, 2011 the terms of the Series 2010-I Class B and Class C Notes were amended to extend the step-up date of the Notes from the payment date in August 2011 to the payment date in August 2021.

The confirmation is based on amendments to the Series 2010-I Class B and Series 2010-I Class C Notes, the available credit enhancement, and performance of the underlying mortgages.

Note:
All figures are in Euros (€) unless otherwise noted.

The applicable methodologies are Master European Residential Mortgage-Backed Securities Rating Methodology and Jurisdictional Addenda, Swap Criteria for European Securitizations, Unified Interest Rate Model for European Transactions and Legal Criteria for European Structured Finance Transactions, which can be found on our website under Methodologies.

The sources of information used for this rating include ABN AMRO Bank N.V. DBRS considers the information available to it for the purposes of providing this rating action was of satisfactory quality.

For additional information on these ratings, please refer to the linking document located below.

Lead Analyst: Keith Gorman
Rating Committee Chair: Claire Mezzanotte
Initial Rating Date: 28th June 2010