DBRS Confirms and Assigns Ratings of A (low) (sf) to the Notes Issued by LStreet II Series 2012-4

DBRS, Inc. (DBRS) has today confirmed the rating of A (low) (sf) on the Series 2012-4 Class A-1 Notes and Series 2012-4 Class A-2 Notes issued by LStreet II, LLC, and has also assigned a rating of A (low) (sf) to the Series 2012-4 Class A-3 Notes (together the Series 2012-4 Class A Notes) issued pursuant to the Second Amended and Restated Series 2012-4 Supplement to the Base Indenture dated as of November 3, 2014. The Series 2012-4 Class A Notes are collateralized by the Class A-1VA, Class A-1VB and the Class A-1NV Notes of Jupiter High-Grade CDO III, Ltd., which is itself collateralized by a pool of sub-prime and Alt-A residential mortgage-backed securities and commercial mortgage-backed securities.

The ratings address (1) the likelihood of the receipt by the Series 2012-4 Class A Noteholders of all principal distributions to which such Noteholders are entitled and (2) the likelihood of the receipt by the Series 2012-4 Class A Noteholders of the amount of Series 2012-4 Class A Interest to which such Noteholders are entitled in each case to the extent payable to the Series 2012-4 Class A Notes in accordance with the priorities of payment outlined in the Amended and Restated Series 2012-4 Supplement to the Base Indenture, on or before the Final Maturity Date in June 2042.

For the avoidance of doubt, the above DBRS ratings address the ultimate payment of the Series 2012-4 Class A-1 Principal, Series 2012-4 Class A-2 Principal and Series 2012-4 Class A-3 Principal (initial par of $335,000,000 as of November 7, 2012, $178,000,000 as of November 1, 2013 and $125,000,000 as of November 3, 2014, respectively), and the timely payment of the Series 2012-4 Class A-1 Interest, the Series 2012-4 Class A-2 Interest and the Series 2012-4 Class A-3 Interest (USD three-month LIBOR plus 0.27% per annum for all Series 2012-4 Class A Notes).

The DBRS ratings do not address any other amounts which may be paid to the Series 2012-4 Class A Noteholders, including, but not limited to, the Series 2012-4 Class A-1 Additional Amount, Series 2012-4 Class A-2 Additional Amount or Series 2012-4 Class A-3 Additional Amount.

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

The principal methodology is Rating Global Structured Finance CDO Restructurings, which can be found on our website under Methodologies.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

The Rule 17g-7 Report of Representations and Warranties is hereby incorporated by reference and can be found by clicking on the link or by contacting us at info@dbrs.com.