Moody's: No Negative Ratings Impact on Spirit Master Funding Sponsored Triple-Net Lease ABS from Merger

New York, July 19, 2013 -- Moody's Investors Service (Moody's) stated today that, the Merger as described below will not result in the downgrade or withdrawal of the ratings of the Triple-Net Lease receivables backed ABS notes issued by Spirit Master Funding, LLC, Series 2005-1; Spirit Master Funding, LLC/ Spirit Master Funding II, LLC, Series 2006-1; Spirit Master Funding, LLC/Spirit Master Funding II, LLC/ Spirit Master Funding III, LLC Series 2007-1. Spirit Realty Capital, Inc. and Cole Credit Property Trust II Inc. (CCPT II) merged their companies and created a publicly traded Triple-net--lease REIT with the combined company taking on the Spirit Realty name.

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