London, 18 October 2016 -- Moody's Investors Service has today upgraded the ratings of 10 notes and affirmed the ratings of 13 notes in Auburn Securities 4 PLC (Auburn 4), Auburn Securities 5 PLC (Auburn 5) and Brunel Residential Mortgage Securitisation No. 1 PLC (Brunel). The rating action reflects the upgrade of the Counterparty Risk Assessment (CR Assessment) of counterparties acting amongst others as servicer and swap counterparty in the transactions and, for Auburn 4 and Auburn 5, the correction of an error in our assessment of swap counterparty risk for tranche E and the change in approach for modelling swap counterparty risk for tranche D.

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