Moody's confirms ratings of Dutch and UK RMBS notes following reduced counterparty exposure

London, 03 December 2013 -- Moody's has today confirmed the ratings of the Class A, B and C notes in Dutch RMBS deal E-MAC NL 2005-I B.V. and the Series 2 B notes in UK RMBS deal Granite Mortgages 04-1 plc. The confirmations reflect the improved credit quality of Citibank N.A. (London Branch), which acts as swap counterparty in the two deals, following the upgrade of its ratings as of 14 November 2013 to A2/(P)P-1 from A3/(P)P-2. Moody's has also confirmed the ratings of the Class 3A notes in UK RMBS deal Permanent Master Issuer PLC Series 2010-2, following the swap novation to Natixis (A2/P-1) from Royal Bank of Scotland plc (A3/P-2).

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