Wells Fargo Stage Trust (Muni. Deriv.) -- Moody's Affirms Ratings on Floater Certificates, Ser. 2010-38C, Ser. 2011-59C, Ser. 2011-83C & Ser. 2011-87C

New York, March 30, 2016 -- Moody's Investors Service has affirmed the (i) Aa2/VMIG 1 rating on the Wells Fargo Stage Trust Floater Certificates, Series 2010-38C, (ii) Aa1/VMIG 1 rating on the Wells Fargo Stage Trust Floater Certificates, Series 2011-59C, (iii) Aaa/VMIG 1 rating on the Wells Fargo Stage Trust Floater Certificates, Series 2011-83C and (iv) Aa1/VMIG 1 rating on the Wells Fargo Stage Trust Floater Certificates, Series 2011-87C. The affirmations are in conjunction with the amendments to the Standard Terms of Trust and the Liquidity Agreements which are effective March 31, 2016.

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