10.06.2013 16:40:00

Moody's downgrades ten notes and confirms one note in four Cordusio Italian RMBS transactions

London, 10 June 2013 -- Moody's Investors Service has today downgraded the ratings of ten junior and mezzanine notes in four Italian residential mortgage-backed securities (RMBS) transactions: Cordusio RMBS S.r.l., Cordusio RMBS - UCFin S.r.l., Cordusio RMBS Securitisation S.r.l. - Series 2006 and Cordusio RMBS Securitisation S.r.l. - Series 2007. At the same time, Moody's confirmed the rating of one senior note in Cordusio RMBS Securitisation S.r.l. - Series 2007. Insufficiency of credit enhancement to address sovereign risk, counterparty exposure and revision of key collateral assumptions have prompted today's downgrade.

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