Press Release

DBRS Confirms Ratings of Film Receivables ABS Transactions

Other

August 06, 2012

DBRS, Inc. has reviewed two U.S. structured finance film receivables asset-backed securities transactions. All four outstanding classes were confirmed. The collateral supporting the transactions is performing within DBRS expectations and available credit enhancement for each class is sufficient to cover DBRS expected losses.

The following public transactions have been reviewed:
• Gun Hill Road II LLC
• Village Roadshow Films (BVI) Limited

Notes:
The applicable methodology is the DBRS Master U.S. ABS Surveillance Methodology, which can be found on our website under Methodologies.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

Ratings

Gun Hill Road II LLC

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
06-Aug-12	$430 Million Class A Notes	BBB (sf)	--	Confirmed	US E

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
06-Aug-12	New Films Facility	A (sf)	--	Confirmed	US
06-Aug-12	Ultimate Facility Tranche A-1	A (sf)	--	Confirmed	US
06-Aug-12	Ultimate Facility Tranche A-2	A (sf)	--	Confirmed	US

Gun Hill Road II LLC

$430 Million Class A Notes

Date Issued:Aug 6, 2012
Rating Action:Confirmed
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:USE

Village Roadshow Films (BVI) Limited

New Films Facility

Date Issued:Aug 6, 2012
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:US

Ultimate Facility Tranche A-1

Date Issued:Aug 6, 2012
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:US

Ultimate Facility Tranche A-2

Date Issued:Aug 6, 2012
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:US

ALL MORNINGSTAR DBRS RATINGS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AND ADDITIONAL INFORMATION REGARDING MORNINGSTAR DBRS RATINGS, INCLUDING DEFINITIONS, POLICIES, RATING SCALES AND METHODOLOGIES.

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