New York, October 24, 2014 -- Moody's announced today that the execution of Amendment No. 1 to the Trust Indenture (the Amendment) governing the Series 2007-1 Notes (the Notes) issued by Babcock & Brown Air Funding I Limited ("B & B Air"), executed upon receipt of the prerequisite consents in relation to the Consent Solicitation Statement dated 18 September 2014 and supplemented 17 October 2014 and 22 October 2014, would not, in and of itself and as of this time, result in a reduction or withdrawal of the ratings currently assigned to the Notes.
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