DBRS Upgrades and Removes from UR-Dev the Potential IRS Termination Rating Re: Blue Edge ABS CDO Ltd.

DBRS, Inc. (“DBRS”) has today upgraded from BBB (sf) to A (sf) the rating on the Interest Rate Swap Termination Payments including all the interest due (“Potential Termination Payments”) which may be owed to the interest rate swap counterparty (“Swap Counterparty”) under an Event of Default, where Blue Edge ABS CDO Ltd. (“Blue Edge”) 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 December 7, 2006 between Blue Edge and the Swap Counterparty.

The DBRS rating addresses only the ultimate payment in full of the Potential Termination Payment plus all interest due, as determined by the Applicable Rate defined in the Agreement, owed by the Fixed Rate Payer to the Floating Rate Payer if a Termination Event occurs on or before the Termination Date.

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.

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 dollars unless otherwise noted.