New York, June 25, 2013 -- Moody's Investors Service has announced today that the execution of the Omnibus Amendment and Supplement No. 1 to Indenture (Amendment) dated as of June 24, 2013, in and of itself and at this time, will not result in a reduction, withdrawal, or placement under review for possible downgrade of the ratings currently assigned to any outstanding Series 2012-A notes issued by PTL Funding LLC (Issuer). The Amendment amends the Indenture, the Note Purchase Agreement, the Transaction SUBI Supplement 2012-A to the Original Trust Agreement, and the Transaction SUBI Supplement 2012-A to the Collection Services Agreement, all dated as of October 5, 2012, to allow for voluntary prepayments from time to time by the Issuer, and for removal of excess overcollateralization collateral from time to time by the Issuer subject to certain terms and conditions. The Issuer is a wholly-owned subsidiary of Penske Truck Leasing Co., L.P.(Penske Truck Leasing, Baa3), a limited partnership ultimately owned by Penske Corporation and its affiliates and General Electric Capital Corporation.

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