MESA WEST CAPITAL CDO, LTD. & LLC RATING DOWNGRADES NOTIFICATION

NOTICE OF RATINGS DOWNGRADE

Mesa West CDO 2007-1

Class A-1, A-2 Notes

Class B Notes

Class C Notes

Class D Notes

Class E Notes

Class F Notes

Class G Notes

Class H Notes  

Class J Notes

Class K Notes

To:                   Cayman Stock Exchange

From:              Wells Fargo Bank, N.A., as trustee (“Wells Fargo”)           

Re:                   That certain Indenture dated as of February 27, 2007 (the “Indenture”) among Mesa West Capital CDO, Ltd., as Issuer, Co-Issuer, Mesa West Capital, LLC as Advancing Agent and Wells Fargo as Trustee, Paying Agent, Calculation Agent, Transfer Agent, Custodial Security Intermediary, Backup Advancing Agent, and Note Registrar

Date:               June 07, 2010

Pursuant to Section 7.16(iii) of the Indenture, you are hereby notified of rating changes related to Mesa West CDO 2007-1, Ltd.  The Class A-1, A-2, B, C, D, E, F, G, H, J and K ratings were downgraded by Standard and Poor’s on June 1, 2010.  Capitalized terms used in this notice and not otherwise defined shall have the meanings assigned thereto in the Indenture.

CLASS	CUSIP	PRIOR S&P  RATING	NEW S&P  RATING
A-1	59066XAA2	AAA	BBB
A-2	59066XAC8	AAA	BB+
B	59066XAE4	AA	BB+
C	59066XAG9	A+	BB
D	59066XAJ3	A	BB
E	59066XAL8	A-	BB-
F	59066XAN4	BBB+	B+
G	59066XAQ7	BBB	B+
H	59066XAS3	BBB-	B+
J	59066XAU8	BB	B
K	59066XAW4	B	B-

WELLS FARGO MAY CONCLUDE THAT A SPECIFIC RESPONSE TO PARTICULAR INQUIRIES FROM INDIVIDUAL HOLDERS IS NOT CONSISTENT WITH EQUAL AND FULL DISSEMINATION OF MATERIAL INFORMATION TO ALL HOLDERS.  WELLS FARGO MAKES NO RECOMMENDATIONS AND GIVES NO INVESTMENT ADVICE HEREIN OR AS TO THE NOTES OR PREFERENCE SHARES GENERALLY.

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