Sydney, June 18, 2014 -- Moody's announced today that a substitution of $20.5 million of mortgage loans into HBS Trust 2008-1R on 18 June 2014 (the "Substitution") would not, in and of itself and as of this time, result in the downgrade or withdrawal of the Class A notes issued by Perpetual Trustee Company Limited in its capacity as trustee of HBS Trust 2008-1R.
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