DBRS Discontinues Rating on Potential Interest Rate Swap Termination Payments Re: Duke Funding VII, Ltd.

DBRS, Inc. (“DBRS”) has today discontinued the rating on the Interest Rate Swap Termination Payments including all interest due (“Potential Termination Payments”) which may be owed to the interest rate swap counterparty (“Swap Counterparty”) under an Event of Default, where Duke Funding VII, Ltd. (“Duke VII”) 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 August 12, 2004 between Duke VII 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.

This rating action reflects payment in full of any amounts owed under the Agreement and maturity of the Interest Rate Swap.

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.