OREANDA-NEWS. Fitch Ratings has taken the following actions on nine classes from Sydney Street Finance Limited (Sydney) and subsequently withdrew the ratings:

--EUR70,000,000 class A1 floating rate notes marked as PIF;
--EUR49,087,885 class A2 floating rate notes affirmed at 'Dsf' and withdrawn;
--EUR0 class B floating rate notes affirmed at 'Dsf' and withdrawn;
--EUR0 class C floating rate notes affirmed at 'Dsf' and withdrawn;
--EUR0 class D floating rate notes affirmed at 'Dsf' and withdrawn;
--EUR0 class E floating rate notes affirmed at 'Dsf' and withdrawn;
--EUR0 class F floating rate notes affirmed at 'Dsf' and withdrawn;
--EUR0 class G floating rate notes affirmed at 'Dsf' and withdrawn;
--EUR0 class H floating rate notes affirmed at 'Dsf' and withdrawn.

KEY RATING DRIVERS
Fitch received a notice that the portfolio credit swap counterparty chose to terminate the portfolio credit swap on July 7, 2015 in accordance with the provisions included in the transaction's closing documents.

As a result of the termination, both the class A1 and class A2 notes received payments. The class A1 notes were paid their full principal balance of EUR70,000,000 along with the accrued and unpaid interest. The class A2 notes were repaid EUR49,087,885 in principal and approximately EUR76,683 in accrued and unpaid interest. This class began experiencing writedowns of its principal in 2013. Since then, the notes' original balance has been reduced by approximately EUR17,612,115.

Principal balances of classes B-H notes were written down to zero prior to 2013. Since the class A2 through H notes have not received their principal in full, they were affirmed at 'Dsf' prior to their ratings being withdrawn.

RATING SENSITIVITIES
Not Applicable.

DUE DILIGENCE USAGE
No third party due diligence was reviewed in relation to this rating action.