The Weighted Average Life Requirement as defined in the Indenture allows the Collateral Manager, upon receipt of a Rating Agency Confirmation, to change the existing required maximum weighted average life by increasing the Maximum Weighted Average Life in Schedule I to the Indenture by two years, commencing with the Twenty First Due Period.

Moody's analyzed the proposed modifications by looking at modeling scenarios with various amortization profiles that conform to the contemplated modification of the Weighted Average Life Requirement. The result of this analysis indicates that increasing the Maximum Weighted Average Life by the designated time period at this time has no impact on the current ratings assigned to the rated notes issued by the Issuer.

The principal methodology used in reaching its conclusion and in monitoring the ratings of the Notes issued by the Issuer is "Moody's Approach to Rating Collateralized Loan Obligations", published in June 2011 and available on www.moodys.com in the Rating Methodologies sub-directory under the Research & Ratings tab. Other methodologies and factors that may have been considered in the process of rating the Notes issued by the Issuer can also be found in the Rating Methodologies sub-directory on Moody's website.

Moody's will continue monitoring the ratings. Any change in the ratings will be publicly disseminated by Moody's through appropriate media.

Simran Sangari Associate Analyst Structured Finance Group Moody'sInvestors Service, Inc.250 Greenwich StreetNew York, NY 10007 U.S.A. JOURNALISTS: 212-553-0376 SUBSCRIBERS: 212-553-1653Ramon O. Torres Senior Vice President Structured Finance Group JOURNALISTS: 212-553-0376 SUBSCRIBERS: 212-553-1653 Releasing Office: Moody's Investors Service, Inc.250 Greenwich StreetNew York, NY 10007 U.S.A. JOURNALISTS: 212-553-0376 SUBSCRIBERS: 212-553-1653(C) 2012 Moody's Investors Service, Inc. and/or its licensors and affiliates (collectively, "MOODY'S"). All rights reserved.

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