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`' CREDIT RATINGS ISSUED BY MOODY'S INVESTORS SERVICE, INC. ("MIS") AND ITS
<br />AFFILIATES ARE MOODY'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT
<br />RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND
<br />CREDIT RATINGS AND RESEARCH PUBLICATIONS PUBLISHED BY MOODY'S ("MOODY'S
<br />PUBLICATIONS") MAY INCLUDE MOODY'S CURRENT OPINIONS OF THE RELATIVE
<br />FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE
<br />SECURITIES. MOODY'S DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT
<br />MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY
<br />ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT
<br />ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK,
<br />MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS AND MOODY'S
<br />OPINIONS INCLUDED IN MOODY'S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT
<br />OR HISTORICAL FACT. CREDIT RATINGS AND MOODY'S PUBLICATIONS DO NOT
<br />CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS
<br />AND MOODY'S PUBLICATIONS ARE NOTAND DO NOT PROVIDE RECOMMENDATIONS TO
<br />PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES. NEITHER CREDIT RATINGS NOR
<br />MOODY'S PUBLICATIONS COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY
<br />PARTICULAR INVESTOR. MOODY'S ISSUES ITS CREDIT RATINGS AND PUBLISHES
<br />MOODY'S PUBLICATIONS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH
<br />INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS
<br />UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE.
<br />ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT
<br />LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR
<br />OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED,
<br />DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR
<br />�' ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY
<br />MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT.
<br />All information contained herein is obtained by MOODY'S from sources believed by it to be
<br />accurate and reliable. Because of the possibility of human or mechanical error as well as other
<br />factors, however, all information contained herein is provided "AS IS" without warranry of any kind.
<br />MOODY'S adopts all necessary measures so that the information it uses in assigning a credit
<br />rating is of sufficient quality and from sources Moody's considers to be reliable, including, when
<br />appropriate, independent third-party sources. However, MOODY'S is not an auditor and cannot in
<br />every instance independently verify or validate information received in the rating process. Under
<br />no circumstances shall MOODY'S have any liability to any person or entity for (a) any loss or
<br />damage in whole or in part caused by, resulting from, or relating to, any error (negligent or
<br />otherwise) or other circumstance or contingency within or outside the control of MOODY'S or any
<br />of its directors, officers, employees or agents in connection with the procurement, collection,
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<br />advance of the possibility of such damages, resulting from the use of or inability to use, any such
<br />information. The ratings, financial reporting analysis, projections, and other observations, if any,
<br />constituting part of the information contained herein are, and must be construed solely as,
<br />statements of opinion and not statements of fact or recorrr�nendations to purchase, sell or hold any
<br />securities. Each user of the information contained herein must make its own study and evaluation
<br />of each security it may consider purchasing, holding or selling. NO WARRANTY, EXPRESS OR
<br />IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR
<br />FITNESS FORANY PARTICULAR PURPOSE OFANY SUCH RATING OR OTHER OPINION OR
<br />INFORMATION IS GNEN OR MADE BY MOODY'S IN ANY FORM OR MANNER WHATSOEVER.
<br />� MIS, a wholly-owned credit rating agency subsidiary of Moody's Corporation ("MCO"), hereby
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