Moody's: Sorin Real Estate CDO III Ratings Unaffected by Proposed Changes in Collateral Manager and Advancing Agent

New York, February 01, 2013 -- Moody's Investors Service has reviewed the proposed appointment of a successor collateral manager and a successor advancing agent for Sorin Real Estate CDO III Ltd. (the "Issuer") and Sorin Real Estate CDO III Corp. (the "Co-Issuer") (the "Appointments"). Moody's has determined that the Appointments should not, if implemented, in and of itself and at this time, result in a downgrade or withdrawal of the current ratings of the Notes issued by the Issuer. Moody's opinion address only the credit impact of the proposed appointments, and Moody's is not expressing any opinion as to whether the action has, or could have, other non-credit related effects that may have a detrimental impact on the interests of holders and/or counterparties.

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