Moody's Investor Ratings

    RNS Number : 5321E
  Chester Asset Recs Deals 2004-1 PLC
  29 September 2008
   
    Issuer: Chester Asset Receivables Dealings 2004-1 PLC (the "Issuer")
    Date: 25 September 2008
    Notification of a statement made by Moody's Investor Services Limited regarding certain notes issued by the Issuer
    We have become aware that Moody's Investors Service has placed under review for possible downgrade the ratings on 16 classes of
asset-backed notes ratings issued under the UK Receivables Trust II, on the Class B of asset-backed notes issued by Chester Asset
Receivables Dealings No.11 PLC, and on the Class B of asset-backed notes issued by Chester Asset Receivables Dealings No.12 PLC under the UK
Receivables Trust. 
    The complete rating actions are as follows: 
    UNDER REVIEW FOR POSSIBLE DOWNGRADE 
    Under UK Receivables Trust II: 
    Issuers: Chester Asset Receivables Dealings 2001-A PLC, Chester Asset Receivables Dealings 2001-B PLC, Chester Asset Receivables
Dealings 2002-A PLC, Chester Asset Receivables Dealings 2003-B PLC, Chester Asset Receivables Dealings 2003-C PLC, Chester Asset Receivables
Dealings 2004-1 PLC 
    GBP12,500,000 Asset Backed Floating Rate Notes due 2011, Class B, Series UK2001-B, current rating A1
    GBP17,500,000 Asset Backed Floating Rate Notes due 2011, Class C, Series UK2001-B, current rating Baa2 
    EUR39,000,000 Asset Backed Floating Rate Notes due 2009, Class B, Series UK2002-A, current rating A1 
    EUR54,500,000 Asset Backed Floating Rate Notes due 2009, Class C, Series UK2002-A, current rating Baa2 
    GBP12,500,000 Asset Backed Floating Rate Notes due 2013, Class B, Series UK2003-B, current rating A1 
    GBP17,500,000 Asset Backed Floating Rate Notes due 2013, Class C, Series UK2003-B, current rating Baa2 
    EUR35,500,000 Asset Backed Floating Rate Notes due 2010, Class B, Series UK2003-C, current rating A1 
    EUR49,500,000 Asset Backed Floating Rate Notes due 2010, Class C, Series UK2003-C, current rating Baa2 
    GBP25,000,000 Asset Backed Floating Rate Notes due 2014, Class B, Series UK2004-1, current rating A1 
    GBP35,000,000 Asset Backed Floating Rate Notes due 2014, Class C, Series UK2004-1, current rating Baa2 
    Issuer: Chester Asset Receivables Dealings Issuer Limited 
    Series 2004-B1 EUR125,000,000 Class B Asset Backed Floating Rate Notes due 2011, current rating A1 
    Series 2004-C1 EUR175,000,000 Class C Asset Backed Floating Rate Notes due 2011, current rating Baa2 
    Series 2006-B1 GBP50,000,000 Class B Asset Backed Floating Rate Notes due 2013, current rating A1 
    Series 2006-C1 GBP70,000,000 Class C Asset Backed Floating Rate Notes due 2013, current rating Baa2 
    Under UK Receivables Trust: 
    Issuers: Chester Asset Receivables Dealings No. 11 PLC, Chester Asset Receivables Dealings No. 12 PLC 
    GBP20,000,000 Asset Backed Floating Rate Notes due 2010, Class B, Chester Asset Receivables Dealings No.11 PLC, current rating A1 
    GBP12,000,000 Asset Backed Floating Rate Notes due 2011, Class B, Chester Asset Receivables Dealings No.12 PLC, current rating A1 
    Further information is available on www.moodys.com 


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