Moody's: Grand Avenue CDO I, Ltd. ratings unaffected by Appointment of Successor Trustee

New York, February 07, 2014 -- Moody's Investors Service has determined that appointment of U.S. Bank National Association as Successor Trustee pursuant to an Agreement of Appointment and Acceptance (the "Agreement), dated as of February 7, 2014 by and among Grand Avenue CDO I, Ltd., as Issuer, Grand Avenue CDO I, LLC., as Co-Issuer, The Bank of New York Mellon Trust Company, National Association (successor to JPMorgan Chase Bank, National Association) as Original Trustee and U.S. Bank National Association, as Successor Trustee will not at this time and in and of itself result in the immediate withdrawal, reduction, or other adverse action with respect to Moody's current long term ratings (including any private or confidential ratings) of the Notes issued by the Issuer. Moody's does not express an opinion as to whether the appointment of the Successor Trustee could have non-credit related effects.

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