DBRS Upgrades Rating on Credit Default Swap Entered into by Diogenes CDO I, Ltd.

DBRS, Inc. (DBRS) has today upgraded from AA (sf) to AAA (sf) the rating on the counterparty credit risk of Diogenes CDO I, Ltd. (Diogenes), with respect to its ability to make any and all payments due under the Credit Default Swap confirmations (CDS) governed by the ISDA Master Agreement, dated November 4, 2005, between Deutsche Bank AG (Deutsche Bank) and Diogenes. This upgrade reflects the various forms of cash collateralization held by Diogenes. The DBRS rating addresses the ultimate payment of the above-referenced payments until the Scheduled Termination Date of the CDS.

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

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

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

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.