London, 27 October 2016 -- Moody's Investors Service, ("Moody's") has determined that the proposed entry by Bacchus 2006-1 plc, (the "Issuer"), a collateralised loan obligation ("CLO") backed by a portfolio of mostly high-yield senior secured European loans, into a Novation Agreement between, among others, The Bank Of New York Mellon SA/NV (the "Outgoing Corporate Services Provider ") and TMF Administration Services Limited (the " Incoming Corporate Services Provider ") executed on the 30 September 2016 and performance of the activities contemplated therein will not in and of itself and at this time cause the current Moody's ratings of the Notes issued by the Issuer to be reduced or withdrawn. Moody's does not express an opinion as to whether the Novation Agreement could have other, non credit-related effects.

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