DBRS Discontinues Two Ratings of INDUS (ECLIPSE 2007-1) plc

DBRS, Inc. (DBRS) has today discontinued the ratings of two defaulted classes in INDUS (ECLIPSE 2007-1) plc, as follows:

-- Commercial Mortgage Backed Floating Rate Note, Class D
-- Commercial Mortgage Backed Floating Rate Note, Class E

DBRS does not perform continued surveillance on classes that have defaulted or been fully repaid. In conjunction with the updated default definition published on January 20, 2015, DBRS has added the ability to discontinue-withdraw D ratings after 30 business days. For this reason, DBRS has discontinued ratings of the previously mentioned classes.

Notes:
The applicable methodology is European CMBS Surveillance, which can be found on our website under Methodologies.

Other methodologies and criteria referenced in this transaction are listed at the end of this press release.

This can be found on www.dbrs.com at:
http://www.dbrs.com/about/methodologies

For a more detailed discussion of sovereign risk impact on Structured Finance ratings, please refer to DBRS commentary “The Effect of Sovereign Risk on Securitisations in the Euro Area” at http://www.dbrs.com/industries/bucket/id/10036/name/commentaries/.

The sources of information used for this rating include INDUS (Eclipse 2007-1) plc and Capita Asset Services (London) Ltd.

DBRS considers the information available to it for the purposes of providing this rating action was of satisfactory quality.

DBRS does not audit the information it receives in connection with the rating process, and it does not and cannot independently verify that information in every instance.

The last rating action on this transaction took place on June 3, 2014, when three classes were confirmed and one class was upgraded.

Information regarding DBRS ratings, including definitions, policies and methodologies are available on www.dbrs.com.

For further information on DBRS historic default rates published by the European Securities and Markets Administration (ESMA) in a central repository, see
http://cerep.esma.europa.eu/cerep-web/statistics/defaults.xhtml.

This credit rating has been issued outside the European Union (EU) and is endorsed by DBRS Ratings Limited. It may be used for regulatory purposes by financial institutions in the EU.

Initial Lead Analyst: Scott Goedken
Initial Rating Date: 15 March 2007
Initial Rating Committee Chair: Erin Stafford

Lead Surveillance Analyst: Stephen Koehler
Rating Committee Chair: Erin Stafford

DBRS, Inc.
333 West Wacker Drive, Suite 1800
Chicago, IL 60606
USA

The rating methodologies and criteria used in the analysis of this transaction can be found at: http://www.dbrs.com/about/methodologies.

European CMBS Rating Methodology
European CMBS Surveillance
Legal Criteria for European Structured Finance Transactions
Derivative Criteria for European Structured Finance Transactions
Unified Interest Rate Model for European Securitisations