Moody's: No negative rating impact on Morganberry Corp. Class A Notes due to the Transfer of Ownership Interests in the Borrower.

New York, June 04, 2015 -- Moody's Investors Service (Moody's) was informed that Warren/GP Corp., the managing general partner of Somerset Associates, intends to sell its one Class B-3 unit of Somerset Associates to Somerset MGP, Inc., and Chubb Associates, L.P., a non-managing general partner of Somerset Associates, intends to sell its general partnership interest in Somerset Associates to Warren NMGP, LLC, an affiliate of Somerset MGP. Additionally, NJ Somerset Inc., an affiliate of Warren/GP and Chubb Associates, has been granted an option to sell to an affiliate of Somerset MPG NJ Somerset's general partnership interest in Somerset/GP Associates, L.P., the other non-managing general partner of Somerset Associates. The Proposed Transaction will become effective upon satisfaction of the conditions set forth in the governing documents.

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