London, 11 April 2014 -- Moody's Investors Service announced today that the execution of deeds of undertaking (the "Deeds") by the swap provider (the Royal Bank of Scotland plc, "RBS") relating to the swap agreements (the "Swap Agreement") between Stichting Holland Homes III , (the "Issuer") and RBS will not, in and of itself and at this time, result in a reduction or withdrawal of the current ratings of the notes (the "Notes") issued by these issuer.
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