Frankfurt am Main, July 02, 2013 -- Moody's Investors Service has today affirmed and confirmed the ratings of the Class A and the Class B notes in Impresa ONE S.r.l., respectively. At the same time, the rating agency downgraded the rating of the Class C notes to Baa3 (sf) from Baa1 (sf). Insufficient credit enhancement to address sovereign risk, performance deterioration and exposure to counterparty risk has prompted today's negative rating action on this rating.

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