London, 12 December 2012 -- Moody's has determined that the proposed action of Deutsche Bank AG, London Branch (the "Bank") to take no action following the downgrade of the Bank below the specified long-term rating of A1 as set out in the definition of "Required Ratings" for the "Issuer Account Bank" in the Account Bank Agreement (the "Proposal") will not, in and of itself at this time result in a reduction or withdrawal of the current ratings of the notes (the "Notes") issued by SCF Rahoituspalvelut Limited (the "Issuer"). Moody's does not express an opinion as to whether the proposal may be considered to have negative effects in any other respect.

Moody's has assessed the Proposal of the Bank in connection with the downgrade of the Bank's long-term rating to A2 and the affirmation of the Bank's short-term rating of P-1. Moody's has assessed the probability and impact of a default of the Bank on the ability of the Issuer to meet its obligations under the transaction, including the impact of the loss of any cash held by the Bank should it default and any loss that may be incurred after that time due to any delay in redirecting payments to a new account or taking any other appropriate action.

The principal methodology used in this rating was Moody's Approach to Rating European Auto ABS published November 2002. Please see the Credit Policy page on www.moodys.com for a copy of this methodology.

Other Factors used in this rating are described in The Temporary Use of Cash In Structured Transactions: Eligible Investment Guidelines published in December 2008.

Moody's noted that on 2 July 2012, it released a Request for Comment, in which the rating agency has requested market feedback on potential changes to its rating implementation guidance for the temporary use of cash in structured finance transactions. If the revised rating implementation guidance is implemented as proposed, the rating on the Notes should not be negatively affected. Please refer to Moody's Request for Comment, entitled "The Temporary Use of Cash in Structured Finance Transactions: Eligible Investment and Bank Guidelines: Request for Comment" for further details regarding the implications of the proposed methodology changes on Moody's ratings.

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

Mehdi Ababou Vice President - Senior Analyst Structured Finance Group Moody's France SAS 96 Boulevard Haussmann Paris 75008 France JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454 Alex Cataldo Associate Managing Director Structured Finance Group Telephone:+39-02-9148-1100 Releasing Office: Moody's Investors Service Ltd. One Canada SquareCanary WharfLondon E14 5FA United Kingdom JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454 (C) 2012 Moody's Investors Service, Inc. and/or its licensors and affiliates (collectively, "MOODY'S"). All rights reserved.

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