DBRS Confirms Ratings on FCC Financing Subsidiary IV, LLC

DBRS has confirmed ratings on the following facilities:

•US$185 million maximum facility amount issued by FCC Financing Subsidiary IV, LLC, which closed February 2005 rated at “A” (sf);

This ratings confirmation has been issued following amendments to certain financial covenants of the originator/servicer as detailed in the Fifth Amendment to the Receivables Loan and Security Agreement.

The facility provides financing to the activities of First Capital Corp. First Capital is a specialty finance company that engages primarily in three lines of business: (1) asset-based lending (2) credit protection and (3) outsourcing for client and receivable management.

The underlying collateral for these facilities are primarily asset-based loans and factoring loan receivables.

The transaction is currently serviced by FCC Service Co., Inc., with backup servicing being provided by U.S. Bank National Association (as successor to Lyon Financial Services Inc.) These transactions are funded by WestLB AG.

Note: All figures are in U.S. dollars unless otherwise noted.