DBRS Withdraws Rating on the TRS Re: Grand Avenue CDO I, Ltd.

DBRS, Inc. (“DBRS”) has today withdrawn the rating on the total return swap (TRS) referencing the Class A-1 Notes issued by Grand Avenue CDO I, Ltd. The DBRS rating addressed the ultimate return of interest and principal of the TRS on or before the legal final maturity of the Class A-1 Notes, taking into account credit enhancement.

This rating is being withdrawn at the client’s request.

The previous rating action on this transaction took place on December 18th, 2013, when the rating on the TRS referencing the Class A-1 Notes was confirmed at BB (sf).

The primary 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.