Moody's: Adirondack 2005-2, Ltd. ratings unaffected by Assignment and Assumption of Collateral Management Agreement.
New York, December 13, 2012 -- Moody's Investors Service has determined that the assignment of the Collateral Management Agreement dated as of November 15, 2005 (the "Agreement") by Clinton Group, Inc. ("Clinton") to Cairn Capital of North America ("Cairn") as Collateral Manager to Adirondack 2005-2 Ltd., (the "Issuer") under the provisions of an Assignment and Assumption Agreement between Clinton and Cairn dated as of December 13, 2012 (the "Assignment and Assumption") and performance of the activities contemplated therein will not in and of themselves and at this time result in the immediate withdrawal, reduction or other adverse action with respect to any current rating (including any private or confidential rating) by Moody's of the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes issued by the Issuer. Moody's does not express an opinion as to whether the Assignment and Assumption could have non-credit-related effects.
