DBRS Confirms the Ratings of the Potential Interest Rate Swap Termination Payments at AA (sf)

DBRS, Inc. (“DBRS”) has today confirmed the ratings of the Interest Rate Swap Termination Payments including all the interest due (“Potential Termination Payment”), which may be owed to the interest rate swap counterparty (“Swap Counterparty”) under an Event of Default, where Kodiak CDO I Ltd. (“Kodiak”) 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 19, 2006 between Kodiak and the Swap Counterparty.

The principal methodology applicable is “Rating Methodology for CLOs and CDOs of Large Corporate Credit”, which can be found on www.dbrs.com.

The sources of information used for this rating include Natixis Financial Products, Inc. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

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