DBRS Confirms AAA (sf) Rating to the Class A Notes Issued by Melepard CDO 1 Limited

DBRS, Inc. (“DBRS”) has today confirmed the rating of AAA (sf) to the Class A Asset Backed Floating Rate Notes (the “Class A Notes”) issued by Melepard CDO 1 Limited (the “Issuer”). The rating addresses the timely payment of interest and principal payable to the Class A Notes. The Class A Notes’ Notional Balance of EUR 215,194,651 is supported by Class B Notes’ Notional Balance of EUR 471,200,000 and a Reserve Account. DBRS does not rate the Class B Notes.

The rating action reflects the 28 November 2012 release of an updated methodology (“Mapping Financial Institution Internal Ratings to DBRS Ratings for Structured Credit Transactions”) to conduct a rating mapping of Bank of Ireland’s internal ratings to DBRS ratings in order to ascertain the credit quality for investments permitted by the Issuer.

The principal methodologies applicable are “Rating Methodology for CLOs and CDOs of Large Corporate Credit” and “Mapping Financial Institution Internal Ratings to DBRS Ratings for Structured Credit Transactions”, which can be found on www.dbrs.com.

The sources of information used for this rating include The Governor and Company of the Bank of Ireland. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.

Lead Analyst: Glen Leppert
Surveillance Analyst: Omesh Lal Shrestha
Rating Committee Chair: Jerry van Koolbergen
Initial Rating Date: 24 February 2011
Most Recent Rating Update: 21 February 2012

Notes:
All figures are in EUR unless otherwise noted.