Press Release
DBRS Places 23 Classes from 18 Italian CLO Transactions Under Review with Negative Implications
Structured CreditRatings
2012 Popolare Bari SME S.r.l.
Date Issued Debt Rated Rating Trend Action Attributes i - US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
14-Mar-13 Class A1 Notes A (high) (sf) -- UR-Neg. UK14-Mar-13 Class A2 Notes A (high) (sf) -- UR-Neg. UKMoreLessAsti Finance PMI S.r.l.
Date Issued Debt Rated Rating Trend Action Attributes i - US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
14-Mar-13 Class A AA (low) (sf) -- UR-Neg. UKMoreLessBCC SME Finance 1 S.r.l.
Date Issued Debt Rated Rating Trend Action Attributes i - US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
14-Mar-13 Class A Notes A (high) (sf) -- UR-Neg. UKUMoreLessBPM Securitisation 2 S.r.l.
Date Issued Debt Rated Rating Trend Action Attributes i - US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
14-Mar-13 Class A1 AAA (sf) -- UR-Neg. UK14-Mar-13 Class A2 AAA (sf) -- UR-Neg. UKMoreLessCivitas SPV S.r.l. (SME)
Date Issued Debt Rated Rating Trend Action Attributes i - US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
14-Mar-13 Series 2012-2-A A (low) (sf) -- UR-Neg. UKMoreLessClaris SME 2012 S.r.l.
Date Issued Debt Rated Rating Trend Action Attributes i - US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
14-Mar-13 Class A A (high) (sf) -- UR-Neg. UKMoreLessDolomiti Mortgage S.r.l.
Date Issued Debt Rated Rating Trend Action Attributes i - US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
14-Mar-13 Class A AAA (sf) -- UR-Neg. UKMoreLessEstense S.M.E. S.r.l.
Date Issued Debt Rated Rating Trend Action Attributes i - US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
14-Mar-13 Class A Notes A (low) (sf) -- UR-Neg. UKMoreLessEtruria Securitisation SPV S.r.l.
Date Issued Debt Rated Rating Trend Action Attributes i - US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
14-Mar-13 Class A Notes A (high) (sf) -- UR-Neg. UKMoreLessIcaro Finance S.r.l.
Date Issued Debt Rated Rating Trend Action Attributes i - US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
14-Mar-13 Class A A (high) (sf) -- UR-Neg. UKMoreLessImpresa ONE S.r.l.
Date Issued Debt Rated Rating Trend Action Attributes i - US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
14-Mar-13 Class A AAA (sf) -- UR-Neg. UK14-Mar-13 Class B A (sf) -- UR-Neg. UK14-Mar-13 Class C BBB (sf) -- UR-Neg. UKMoreLessMarche M5 S.r.l.
Date Issued Debt Rated Rating Trend Action Attributes i - US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
14-Mar-13 Class A AA (sf) -- UR-Neg. UKMoreLessQuadrivio SME 2012 S.r.l.
Date Issued Debt Rated Rating Trend Action Attributes i - US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
14-Mar-13 Class A AAA (sf) -- UR-Neg. UKMoreLessSME Grecale S.r.l.
Date Issued Debt Rated Rating Trend Action Attributes i - US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
14-Mar-13 Class A AAA (sf) -- UR-Neg. UKMoreLessSiena SME 11-1 S.r.l.
Date Issued Debt Rated Rating Trend Action Attributes i - US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
14-Mar-13 Class A AAA (sf) -- UR-Neg. UK14-Mar-13 Class B A (low) (sf) -- UR-Neg. UKMoreLessUBI SPV BBS 2012 S.r.l.
Date Issued Debt Rated Rating Trend Action Attributes i - US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
14-Mar-13 Class A Notes A (low) (sf) -- UR-Neg. UKMoreLessUBI SPV BPA 2012 S.r.l.
Date Issued Debt Rated Rating Trend Action Attributes i - US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
14-Mar-13 Class A Notes A (low) (sf) -- UR-Neg. UKMoreLessUBI SPV BPCI 2012 S.r.l.
Date Issued Debt Rated Rating Trend Action Attributes i - US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
14-Mar-13 Class A Notes A (low) (sf) -- UR-Neg. UKMoreLess
2012 Popolare Bari SME S.r.l.
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:A (high) (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:A (high) (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
Asti Finance PMI S.r.l.
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:AA (low) (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
BCC SME Finance 1 S.r.l.
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:A (high) (sf)
- Trend:--
- Rating Recovery:
- Issued:UKU
BPM Securitisation 2 S.r.l.
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:AAA (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:AAA (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
Civitas SPV S.r.l. (SME)
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:A (low) (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
Claris SME 2012 S.r.l.
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:A (high) (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
Dolomiti Mortgage S.r.l.
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:AAA (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
Estense S.M.E. S.r.l.
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:A (low) (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
Etruria Securitisation SPV S.r.l.
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:A (high) (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
Icaro Finance S.r.l.
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:A (high) (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
Impresa ONE S.r.l.
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:AAA (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:A (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:BBB (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
Marche M5 S.r.l.
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:AA (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
Quadrivio SME 2012 S.r.l.
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:AAA (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
SME Grecale S.r.l.
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:AAA (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
Siena SME 11-1 S.r.l.
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:AAA (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:A (low) (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
UBI SPV BBS 2012 S.r.l.
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:A (low) (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
UBI SPV BPA 2012 S.r.l.
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:A (low) (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
UBI SPV BPCI 2012 S.r.l.
- Date Issued:Mar 14, 2013
- Rating Action:UR-Neg.
- Ratings:A (low) (sf)
- Trend:--
- Rating Recovery:
- Issued:UK
- US = Lead Analyst based in USA
- CA = Lead Analyst based in Canada
- EU = Lead Analyst based in EU
- UK = Lead Analyst based in UK
- E = EU endorsed
- U = UK endorsed
- Unsolicited Participating With Access
- Unsolicited Participating Without Access
- Unsolicited Non-participating
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Contacts
Marcello Bonassoli
Vice President, EU Structured Credit - Global Structured Finance
+44 20 7855 6637
mbonassoli@dbrs.com- Jerry van Koolbergen
Managing Director - US Structured Credit Ratings
+(1) 212 806 3260
jerry.vankoolbergen@morningstar.com - Carlos Silva
Senior Vice President, Sector Lead - European Structured Credit Ratings
+(44) 20 7855 6604
carlos.silva@morningstar.com