Connecticut Avenue Securities receive Fitch Upgrades

January 27, 2017

On January 24, 2017, Fitch Ratings assigned ratings upgrades to the following Connecticut Avenue Securities® (CAS) notes:

Bond Prior Rating Rating Upgrade
2013-C01 M-1 A (sf) AA (sf)
2014-C01 M-1 A- (sf) A+ (sf)
2014-C02 1M-1 A- (sf) A+ (sf)
2014-C02 2M-1 A (sf) AA (sf)
2014-C03 1M-1 BBB+ (sf) A (sf)
2014-C03 2M-1 A- (sf) AA- (sf)
2015-C02 1M-1 BBB- (sf) A- (sf)
2015-C02 2M-1 BBB (sf) A (sf)
2015-C03 1M-1 BBB- (sf) BBB+ (sf)
2015-C03 2M-1 BBB- (sf) BBB+ (sf)
2015-C04 1M-1 BBB- (sf) BBB (sf)