Moody's determines no negative rating impact on Securitized Guaranteed Mortgage Loans I B.V. (SGML 1) following RBS's downgrade
London, 21 December 2012 -- Moody's has determined that the proposed action (the "Proposal") of The Royal Bank of Scotland N.V. ("RBS") to replace RBS by N.V. Bank Nederlandse Gemeenten ("BNG", Aaa/P-1) as new Floating Rate GIC Provider should not, in and of itself at this time result in a reduction or withdrawal of the current ratings of the notes (the "Notes") issued by Securitized Guaranteed Mortgage Loans I B.V. (SGML 1) (the "Issuer"). Moody's does not express an opinion as to whether the proposal may be considered to have negative effects in any other respect.
