New York, July 17, 2014 -- Moody's Investors Service (Moody's) was informed that West Edmonton Mall Property, Inc., the Borrower for the West Edmonton Mall mortgage loan, has requested to sell certain bonds (or a portion thereof) included in the Defeasance Collateral for the Series A holders and substitute therefore, as part of the Defeasance Collateral, other Government of Canada debt obligations that will produce an equivalent cash flow ( the "Collateral Substitution"). The proposed Collateral Substitution will become effective upon satisfaction of the conditions precedent set forth in the governing documents.

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