TEXT-Fitch: Bilkreditt 2 Limited's ratings unaffected by deed of amendment

Tue Dec 18, 2012 11:35am EST

Dec 18 - Fitch Ratings says that there is no impact on Bilkreditt 2
Limited's ratings following the execution of a deed of amendment.

Fitch has been notified that a deed of amendment has been executed regarding the
transaction's servicer downgrade triggers. At closing, borrower notification was
to occur and a back-up servicer to be put in place within 10 days if the
servicer's rating fell below 'BBBsf'. A servicer termination event was triggered
if the rating fell below 'BBB-sf'.

These triggers have now been amended to reflect that borrower notification will
occur and a back-up servicer put in place within 10 days if the servicer rating
falls below 'BBB-sf'. The rating-related servicer termination event has been
removed.

Fitch considers that this amendment does not impact the rating of the notes as
the measures in place are still strong enough to mitigate any potential servicer
interruption risk.


Additional information is available at www.fitchratings.com.
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