DBRS Upgrades and Removes from UR-Developing the IRS Termination Rating for Altius III Funding Ltd.

DBRS, Inc. (“DBRS”) has today upgraded from BBB (low) (sf) to BBB (sf) the rating on the potential Interest Rate Swap Termination Payments including all interest due (“Potential Termination Payment”) which may be owed to the interest rate swap counterparty (“Swap Counterparty”) under an Event of Default, where Altius III Funding Ltd. (“Altius III”) is the sole defaulting party due to a Failure to Pay or Deliver as defined in section 5(a)(i) of the ISDA Master Agreement (“Agreement”) executed on September 28, 2006 between Altius III and the Swap Counterparty.

The rating has also been removed from the Under Review with Developing Implications designation. This action reflects the conclusion of the review to determine the impact of the updated methodology “Rating Global Structured Finance CDO Restructurings”.

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

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