08.07.2013 19:07:00

Moody's upgrades 1 note downgrades 6 notes and confirms 1 note in four Italian RMBS transactions

Madrid, July 08, 2013 -- Moody's Investors Service has today downgraded the ratings of three mezzanine and three junior notes in three Italian residential mortgage-backed securities (RMBS) transactions: Vela ABS S.r.l., Vela Home S.r.l. -- Series 3 and Vela Home S.r.l. -- Series 4. At the same time, Moody's upgraded the rating of one note in Vela Home S.r.l. -- Series 2 and confirmed the rating of one note in Vela Home S.r.l. -- Series 4. Insufficiency of credit enhancement to address sovereign risk together with collateral performance deterioration have prompted today's action.

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