DBRS Confirms and Removes from UR-Developing the Rating to the CDS Re: Diogenes CDO I, Ltd.

DBRS, Inc. (“DBRS”) has today confirmed the rating of AA (sf) to the counterparty credit risk of Diogenes CDO I, Ltd. (“Diogenes”) with respect to its ability to make any and all payments due under the credit default swap confirmations (“CDS”) governed by the ISDA Master Agreement, dated November 4, 2005, between Deutsche Bank AG (“Deutsche Bank”) and Diogenes. This Rating reflects the various forms of cash collateralization held by Diogenes, as well as Deutsche Bank’s position as CDS Counterparty within the legal structure of Diogenes. The DBRS rating addresses the ultimate payment of the above referenced payments until the Scheduled Termination Date of the CDS.

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 U.S. dollars unless otherwise noted.