DBRS Confirms Rating and Releases Annual Surveillance Report for Panorama Alpha B.V.

DBRS has today confirmed the A (sf) rating and released the Annual Surveillance Report for Panorama Alpha B.V. The report updates performance for the transaction as of the investor report dated January 25, 2012.

For more information on the transaction and the DBRS analysis, please see the Annual Surveillance Report on the DBRS website at www.dbrs.com.

DBRS continues to monitor this transaction on a quarterly basis.

Note:
The applicable methodologies are European CMBS Methodology, CMBS European Surveillance Methodology, Legal Criteria for European Structured Finance Transactions, Unified Interest Rate Model for European Securitisations and Swap Criteria for European Structured Finance Transactions.