DBRS Correction: DBRS Upgrades and Discontinues Rating on TRS Referencing Millstone III CDO

In the DBRS, Inc. (“DBRS”) press release for the TRS referencing Millstone III CDO published on November 6, 2012, the discontinuation rating action was correctly described; however, the below rating actions were inadvertently omitted and occurred prior to the rating being discontinued. The corrected full press release is below.

“DBRS has removed from Under Review with Developing Implications and upgraded the rating on the total return swap (TRS) referencing the Class A-1A Notes issued by Millstone III CDO, pursuant to the TRS agreement dated April 28, 2009, from BBB (high) (sf) to A (low) (sf). The DBRS rating addresses the ultimate return of interest and principal of the TRS on or before the legal final maturity of the Class A-1A Notes.

Following the above rating actions, DBRS has discontinued the rating on the TRS referencing the Class A-1A Notes issued by Millstone III CDO. This rating action reflects early termination of the TRS pursuant to the Termination Notice dated November 2, 2012.

The principal methodology is Rating Global Stuctured Finance CDO Restructurings, which can be found on our website under Methodologies.

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

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