|
other type of liability that,for the avoidance of doubt, by law cannot be excluded)on the part of,or any
<br /> contingency within or beyond the control of, MOODY'S or any of its directors, officers, employees,agents,
<br /> representatives, licensors or suppliers,arising from or in connection with the information contained herein or the
<br /> use of or inability to use any such information.
<br /> NO WARRANTY, EXPRESS OR IMPLIED,AS TO THE ACCURACY, TIMELINESS, COMPLETENESS,
<br /> MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH RATING OR OTHER
<br /> OPINION OR INFORMATION IS GIVEN OR MADE BY MOODY'S IN ANY FORM OR MANNER
<br /> WHATSOEVER.
<br /> Moody's Investors Service, Inc., a wholly-owned credit rating agency subsidiary of Moody's Corporation
<br /> ("MCO"), hereby discloses that most issuers of debt securities(including corporate and municipal bonds,
<br /> debentures, notes and commercial paper)and preferred stock rated by Moody's Investors Service, Inc, have,
<br /> prior to assignment of any rating,agreed to pay to Moody's Investors Service, Inc.for appraisal and rating
<br /> services rendered by it fees ranging from$1,500 to approximately$2,500,000. MCO and MIS also maintain
<br /> policies and procedures to address the independence of MIS's ratings and rating processes. Information
<br /> regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities
<br /> who hold ratings from MIS and have also publicly reported to the SEC an ownership interest in MCO of more
<br /> than 5%, is posted annually at www.moodvs.com under the heading"Investor Relations—Corporate
<br /> Governance—Director and Shareholder Affiliation Policy."
<br /> Additional terms for Australia only:Any publication into Australia of this document is pursuant to the Australian
<br /> Financial Services License of MOODY'S affiliate, Moody's Investors Service Pty Limited ABN 61 003 399
<br /> 657AFSL 336969 and/or Moody's Analytics Australia Pty Ltd ABN 94 105 136 972 AFSL 383569(as
<br /> applicable).This document is intended to be provided only to"wholesale clients"within the meaning of section
<br /> 761 G of the Corporations Act 2001. By continuing to access this document from within Australia, you represent
<br /> to MOODY'S that you are, or are accessing the document as a representative of, a"wholesale client"and that
<br /> neither you nor the entity you represent will directly or indirectly disseminate this document or its contents to
<br /> "retail clients"within the meaning of section 761 G of the Corporations Act 2001. MOODY'S credit rating is an
<br /> opinion as to the creditworthiness of a debt obligation of the issuer, not on the equity securities of the issuer or
<br /> any form of security that is available to retail investors. It would be reckless and inappropriate for retail investors
<br /> to use MOODY'S credit ratings or publications when making an investment decision. If in doubt you should
<br /> contact your financial or other professional adviser.
<br /> Additional terms for Japan only: Moody's Japan K.K. ("MJKK")is a wholly-owned credit rating agency subsidiary
<br /> of Moody's Group Japan G.K.,which is wholly-owned by Moody's Overseas Holdings Inc., a wholly-owned
<br /> subsidiary of MCO. Moody's SF Japan K.K. ("MSFJ")is a wholly-owned credit rating agency subsidiary of
<br /> MJKK. MSFJ is not a Nationally Recognized Statistical Rating Organization ("NRSRO").Therefore, credit
<br /> ratings assigned by MSFJ are Non-NRSRO Credit Ratings. Non-NRSRO Credit Ratings are assigned by an
<br /> entity that is not a NRSRO and,consequently,the rated obligation will not qualify for certain types of treatment
<br /> under U.S. laws. MJKK and MSFJ are credit rating agencies registered with the Japan Financial Services
<br /> Agency and their registration numbers are FSA Commissioner(Ratings)No. 2 and 3 respectively.
<br /> MJKK or MSFJ(as applicable)hereby disclose that most issuers of debt securities(including corporate and
<br /> municipal bonds,debentures, notes and commercial paper)and preferred stock rated by MJKK or MSFJ (as
<br /> applicable)have, prior to assignment of any rating, agreed to pay to MJKK or MSFJ (as applicable)for
<br /> appraisal and rating services rendered by it fees ranging from JPY200,000 to approximately JPY350,000,000.
<br /> MJKK and MSFJ also maintain policies and procedures to address Japanese regulatory requirements.
<br />
|