New York, October 18, 2016 -- Moody's Investors Service has determined that entry by Venture X CLO, Ltd. (the "Issuer") into a supplement dated as of October 20, 2016 to the Indenture among the Issuer, Venture X CLO Corp. as Co-Issuer and The Bank of New York Mellon Trust Company, National Association as Trustee dated as of June 14, 2012 as Trustee (the "Second Supplemental Indenture") and performance of the activities contemplated therein will not in and of themselves and at this time cause the immediate withdrawal or reduction by Moody's of its rating of the Class A-R Notes or the Class E Notes issued by the Issuer. Moody's does not express an opinion as to whether the Second Supplemental Indenture could have non-credit-related effects.

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