Moody's: Anchorage Capital CLO 3, Ltd. ratings unaffected by Partial Redemption and Refinancing

New York, October 27, 2016 -- Moody's Investors Service has determined that a partial redemption (the "Partial Redemption") and a refinancing (the "Refinancing") by Anchorage Capital CLO 3, Ltd. (the "Issuer"), effective as of October 28, 2016 of (i) the entire Class A-1 Senior Secured Floating Rate Notes due 2026 (the "Class A-1 Notes"), (ii) the entire Class A-2a Senior Secured Floating Rate Notes due 2026 (the "Class A-2a Notes"), (iii) the entire Class A-2b Senior Secured Fixed Rate Notes due 2026 (the "Class A-2b Notes") and (iv) the entire Class B Senior Secured Deferrable Floating Rate Notes due 2026 (the "Class B Notes" and, together with the Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes and the Class B Notes, the "Refinanced Notes") pursuant to a supplement to the Indenture among the Issuer, Anchorage Capital CLO 3, LLC as Co-Issuer and U.S. Bank National Association as Trustee and performance of the activities contemplated therein will not in and of themselves and at this time cause the immediate withdrawal or reduction by Moody's of its current rating of the Secured Notes that are not the subject of the Partial Redemption and that are issued by the Issuer. Moody's does not express an opinion as to whether the Partial Redemption and the Refinancing could have non-credit-related effects.

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