Ratings Raised On Nine Classes In Dutch Mortgage Portfolio Loans I, II, IV, And V Mar 09

Standard & Poors, March 2009

Abstract
LONDON (Standard & Poor's) March 30, 2009-Standard & Poor's Ratings Services today took various rating actions on notes in five Dutch Mortgage Portfolio Loans (DMPL) transactions, primarily driven by the increased seasoning and house price appreciation on the underlying assets since closing, together with continued low arrears levels. Specifically, we: -- Raised our credit ratings on nine tranches; -- Placed four tranches on CreditWatch positive; and -- Affirmed our ratings on six tranches (see list below). Today's rating actions follow a full credit analysis of the most recent transaction information that we have received. We carried out the analysis for the DMPL IV and V transactions after we placed certain notes on CreditWatch positive in October 2008 (see "Related Research"...

Companies mentioned in this report are: Dutch Mortgage Portfolio Loans II B.V.,Dutch Mortgage Portfolio Loans III B.V.,Dutch Mortgage Portfolio Loans IV B.V.,Dutch Mortgage Portfolio Loans V B.V.
Action: Affirmed
Action: On CreditWatch:Positive
Action: Upgraded

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Dutch Mortgage Portfolio Loans II B.V.,Dutch Mortgage Portfolio Loans III B.V.,Dutch Mortgage Portfolio Loans IV B.V.,Dutch Mortgage Portfolio Loans V B.V.

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