Moody's ABCP rating actions ending November 19, 2012

Moody's has reviewed the following ABCP programs in conjunction with the proposed amendments. The amendments, in and of themselves and at this time, will not result in any rating impact on the respective programs. For the mentioned programs, Moody's believes that the amendments do not have an adverse effect on the credit quality of the securities such that the Moody's ratings are impacted. Moody's does not express an opinion as to whether the amendment could have other, non-credit-related effects.

MOODY'S ASSIGNS PRIME-1(SF) RATING TO NATIONAL BANK OF CANADA'S ABCP PROGRAM OF CLARITY TRUST

For further details, please see Moody's press release dated November 15, 2012.

SOCIETE GENERALE'S BARTON AMENDS EXISTING C$150 MILLION AUTO TRANSACTIONBarton Capital LLC ("Barton"), a partially supported, multiseller ABCP program administered by Societe Generale ("SG," A2/Prime-1/C-), has amended an existing C$150 million revolving auto lease and loan facility in its portfolio. The amendments include reducing the required overcollateralization to 17% from 20%, and expanding the eligibility criteria to include additional vehicle brands. The facility is established for an unrated subsidiary of an auto manufacturer. This transaction has been in Barton's portfolio since 2010 and has performed well.

Transaction-specific credit enhancement continues to be comprised of overcollateralization (now at 17%) and a 2% minimum excess spread. This transaction is partially supported by a liquidity facility provided by Prime-1-rated SG.

Barton has $6.0 billion of purchase commitments and its program-level credit enhancement remains at the $500 million floor.

MLTC FUNDING RENEWS EXISTING USCP PROGRAM

MLTC Funding Inc. ("Issuer") has renewed its existing US commercial paper program supported by a letter of credit issued by Citibank, N.A. (A3/Prime-2/D+). Citibank's irrevocable letter of credit provides full and timely payment to maturing commercial paper notes upon maturity. The Issuer has renewed the letter of credit facility for another year with October 21,2013 as the new expiration date. In addition, the authorized amount of commercial paper that may be issued under this program was reduced to $1.9 million from $5.1 million. The commercial paper is rated Prime-2.

JPMorgan Chase Bank, N.A. (Aa3/Prime-1/C) continues to act as the depositary and will draw on the letter of credit to pay maturing commercial paper.

MLTC Funding was established with the limited purpose of leasing property and equipment to Thrifty PayLess, Inc., Thrifty Corporation, and Thrifty Realty Company. MLTC Funding issues commercial paper on an ongoing basis and uses to proceeds to refinance the leased property and equipment.

COFCO CAPITAL CORPORATION RENEWS EXISTING USCP PROGRAM

COFCO Capital Corporation ("Issuer") has renewed the letter of credit supporting its $150 million fully supported USCP program. The CP issued from this program is fully supported by a letter of credit provided by Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A., "Rabobank Nederland", (Aa2/Prime-1/B-), New York Branch. Rabobank Nederland issued a new letter of credit with identical terms and amount to replace the expiring one. The new letter of credit will terminate on October 18, 2013, unless extended pursuant to the terms of the program documents.

The Issuer is authorized to issue up to $150 million of commercial paper. U.S. Bank National Association (Aa2 on review for possible downgrade/Prime-1/B+ BFSR on review for possible downgrade) continues to act as the depositary and will draw on the letter of credit to pay maturing commercial paper.

This USCP program was established in October 2011. COFCO Capital Corporation is a wholly-owned subsidiary of COFCO Corporation ("COFCO", formerly known as China National Cereals, Oils and Foodstuffs Corporation or China National Cereals, Oils and Foodstuffs Import & Export Corporation). COFCO is a large business group involved in trade, industry, finance, information, services and scientific research, covering diverse areas such as agricultural commodities, foodstuffs, hotels and real estate.

The principal methodology used in these ratings was "Moody's Approach to Rating Asset-Backed Commercial Paper" published in May 2012. Please see the Credit Policy page on www.moodys.com for a copy of this methodology.

Moody's monitors and analyzes ABCP programs on an ongoing basis. A detailed description of each program is published in the ABCP Program Review. Some ABCP programs have monthly updated performance information, which is published in the Performance Overviews. All publications are available on www.moodys.com.

Valerie Oliveri Associate Analyst Structured Finance Group Moody'sInvestors Service, Inc.250 Greenwich StreetNew York, NY 10007 U.S.A. JOURNALISTS: 212-553-0376 SUBSCRIBERS: 212-553-1653Everett Rutan Senior Vice President Structured Finance Group JOURNALISTS: 212-553-0376 SUBSCRIBERS: 212-553-1653 Releasing Office: Moody's Investors Service, Inc.250 Greenwich StreetNew York, NY 10007 U.S.A. JOURNALISTS: 212-553-0376 SUBSCRIBERS: 212-553-1653(C) 2012 Moody's Investors Service, Inc. and/or its licensors and affiliates (collectively, "MOODY'S"). All rights reserved.

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