Fitch Ratings-London/Frankfurt-12 January 2009: Fitch Ratings has today revised the Outlook on Semper Finance 2006-1 Ltd. class B and C notes, due 2082, to Positive from Stable. All the ratings have been affirmed.

Fitch Ratings-London/Frankfurt-12 January 2009: Fitch Ratings has today revised the Outlook on Semper Finance 2006-1 Ltd. class B and C notes, due 2082, to Positive from Stable. All the ratings have been affirmed.

Fitch Ratings-London/Frankfurt-12 January 2009: Fitch Ratings has today revised the Outlook on Semper Finance 2006-1 Ltd. class B and C notes, due 2082, to Positive from Stable. All the ratings have been affirmed.

Fitch Ratings-London/Frankfurt-12 January 2009: Fitch Ratings has today revised the Outlook on Semper Finance 2006-1 Ltd. class B and C notes, due 2082, to Positive from Stable. All the ratings have been affirmed.

The safety net is almost gone, the nest egg is cracking.