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Announcement:

Moody's places repack notes of Premium Green PLC on review for possible downgrade

15 Jun 2011

EUR 1,773m of debt securities affected

London, 15 June 2011 -- Moody's Investors Service announced today that it has placed under review for downgrade the rating of 28 series of notes issued by Premium Green PLC. The notes affected by today's rating action are listed at the end of the Press Release.

REVIEW RATIONALE

For all the transactions the ratings on the notes are based on the ratings of the collateral bonds, which are issued by various Caisse Regionale de Credit Agricole, subsidiaries of Credit Agricole S.A. The counterparty risk of Credit Agricole Corporate and Investment bank has been de-linked through the implementation of a double rating trigger, except for series 2006-1 and 2006-4 which have a pass-through structure and no swap.

Moody's explained that the rating action taken today is the result of the Aa1 rating of Credit Agricole S.A. being placed under review for downgrade on 15 June 2011.

The principal methodology used in this rating was "Moody's Approach to Rating Repackaged Securities" published in April 2010.

Issuer: Premium Green PLC

....Series 2006-1 EUR 100,000,000 Secured Limited Recourse CMS-Linked Notes due 2021, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2006-2 EUR 100,000,000 Secured Limited Recourse 4.52 per cent Notes due 2021, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

.... Series 2006-3 EUR 100,000,000 Secured Limited Recourse 4.56 per cent Notes due 2021, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2006-4 EUR 100,000,000 Secured Limited Recourse CMS-Linked Notes due 2021, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2006-5 EUR 300,000,000 Secured Limited Recourse 4.54 per cent Notes due 2021, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2006-6 EUR 100,000,000 Secured Limited Recourse 4.5575 per cent Notes due 2021, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2006-7 EUR 30,000,000 Secured Limited Recourse 4.70 per cent Notes due 2021, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2006-8 EUR 30,000,000 Secured Limited Recourse CMS-Linked Notes due 2021, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2006-9 EUR 50,000,000 Secured Limited Recourse 4.33 per cent Notes due 2021, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2006-11 EUR 30,000,000 Secured Limited Recourse 4.30% Fixed Rate Notes due 2021, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2007-1 EUR 70,000,000 Secured Limited Recourse CMS-Linked Notes due 2022, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2007-2 EUR 50,000,000 Secured Limited Recourse Variable Interest Rate Notes due 2022, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2007-3 EUR 25,000,000 Secured Limited Recourse Variable Interest Rate Notes due 2022, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2007-4 EUR 100,000,000 Secured Limited Recourse 4.81 per cent Notes due 2022, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2007-5 EUR 10,000,000 Secured Limited Recourse Variable Interest Rate Notes due 2017, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2007-6 EUR 50,000,000 Secured Limited Recourse 4.50 per cent. Fixed / Index Linked Variable Notes due 2022, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2007-7 EUR 50,000,000 Secured Limited Recourse Variable Interest Rate Notes due 2022, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2007-8 EUR 50,000,000 Secured Limited Recourse CMS-Linked Variable Interest Rate Notes due 2022, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2007-9 EUR 50,000,000 Secured Limited Recourse CMS-Linked Variable Notes due 2022, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2007-10 EUR 25,000,000 Secured Limited Recourse Variable Interest Rate Notes due 2022, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2007-11 EUR 20,000,000 Secured Limited Recourse Variable Interest Rate Notes due 2022, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2007-12 EUR 30,000,000 Secured Limited Recourse Variable Interest Rate Notes due 2022, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2007-13 EUR 30,000,000 Secured Limited Recourse Variable Interest Rate Notes due 2022, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2007-14 EUR 140,000,000 Secured Limited Recourse 5.12 per cent. Fixed/Index Linked Switchable Notes due 2022, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2007-15 EUR 10,000,000 Secured Limited Recourse 5.1425% Fixed Rate Notes due 2022, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2007-16 EUR 23,000,000 Secured Limited Recourse 5.45 per cent. Notes due 2022, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2008-4 EUR 50,000,000 Secured Limited Recourse 6 per cent. Notes due 2018, Aa1 Placed Under Review for Possible Downgrade; previously on Feb 24, 2009 Confirmed at Aa1

....Series 2009-1 EUR 50,000,000 Secured Limited Recourse CMS-Linked Variable Interest Rate Notes due 2024, Aa1 Placed Under Review for Possible Downgrade; previously on Mar 3, 2009 Assigned Aa1

London
Mariona Serrat
Associate Analyst
Structured Finance Group
Moody's Investors Service Ltd.
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454

London
Neelam S. Desai
Senior Vice President
Structured Finance Group
Moody's Investors Service Ltd.
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454

Moody's Investors Service Ltd.
One Canada Square
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JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454

Moody's places repack notes of Premium Green PLC on review for possible downgrade
No Related Data.
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