DBRS Discontinues Ratings of Florentia Limited

DBRS, Inc. (DBRS) has today discontinued its ratings of the Florentia Limited transaction, as the notes have been repaid as of the September 30, 2014, remittance report.

This concludes DBRS’s surveillance of this transaction.

Notes:
The principal methodology applicable is European CMBS Surveillance which can be found on our website under Methodologies.

Other methodologies and criteria referenced in this transaction are listed at the end of this press release.

This can be found on www.dbrs.com at:
http://www.dbrs.com/about/methodologies

For a more detailed discussion of sovereign risk impact on Structured Finance ratings, please refer to DBRS commentary “The Effect of Sovereign Risk on Securitisations in the Euro Area” on: http://www.dbrs.com/industries/bucket/id/10036/name/commentaries/

The sources of information used for this rating include Deutsche Bank, Deutsche Bank AG, London Branch and Situs Asset Management Limited.

DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

DBRS does not audit the information it receives in connection with the rating process, and it does not and cannot independently verify that information in every instance.

The last rating action on this transaction took place on January 21, 2014 when all classes were confirmed.

Information regarding DBRS ratings, including definitions, policies and methodologies are available on www.dbrs.com.

For further information on DBRS historic default rates published by the European Securities and Markets Administration (ESMA) in a central repository, see:
http://cerep.esma.europa.eu/cerep-web/statistics/defaults.xhtml.

This credit rating has been issued outside the European Union (EU) and is endorsed by DBRS Ratings Limited. It may be used for regulatory purposes by financial institutions in the EU.

Initial Lead Analyst: Scott Goedken
Initial Rating Date: 25 September 2012
Initial Rating Committee Chair: Erin Stafford

Lead Surveillance Analyst: Chase Purdom
Rating Committee Chair: Erin Stafford

DBRS, Inc.
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The rating methodologies and criteria used in the analysis of this transaction can be found at: http://www.dbrs.com/about/methodologies

European CMBS Rating Methodology
European CMBS Surveillance
Legal Criteria for European Structured Finance Transactions
Derivative Criteria for European Structured Finance Transactions
Unified Interest Rate Model for European Securitisations