DBRS Confirms AAA (sf) Rating to the Class A Notes Issued by Melepard CDO 1 Limited

DBRS Inc. (“DBRS”) has today confirmed the rating of AAA (sf) to the Class A Asset Backed Floating Rate Notes (the “Class A Notes”) issued by Melepard CDO 1 Limited (the “Issuer”) following the assets sale. The rating addresses the timely payment of interest and principal payable to the Class A Notes.

The rating action reflects the 7 February 2012 release of an updated methodology (Rating Methodology for CLOs and CDOs of Large Corporate Credit) to rate and monitor collateralized loan obligations and collateralized debt obligations backed by non-granular portfolios of large corporate credits. The rating has also been removed from Under Review with Developing Implications.

The principal methodology applicable is Rating Methodology for CLOs and CDOs of Large Corporate Credit, which can be found on www.dbrs.com.

The sources of information used for this rating include Bank of Ireland. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

This credit rating has been issued outside the European Union (EU) and may be used for regulatory purposes by financial institutions in the EU.

Lead Analyst: Glen Leppert
Surveillance Analyst: Orest Gavrylak
Rating Committee Chair: Jerry van Koolbergen
Initial Rating Date: 24 February 2011
Most Recent Rating Update: 8 February 2012

Notes:
All figures are in EUR unless otherwise noted.