New York, June 12, 2014 -- Moody's Investors Service has determined that the appointment of Dock Street Capital Management, LLC ("Dock Street") as successor Collateral Manager to Libertas Preferred Funding II, Ltd., (the "Issuer") under the provisions of an Amended and Restated Collateral Management Agreement (the "Agreement") between the Issuer and Dock Street dated as of June 12, 2014 (the "Appointment") and performance of the activities contemplated therein will not in and of themselves and at this time result in the withdrawal, reduction or other adverse action with respect to any current rating by Moody's of any Class of Notes issued by the Issuer. Moody's does not express an opinion as to whether the Appointment could have non-credit-related effects.

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