DBRS Discontinues Rating on the Class A1 Notes issued by BPM Securitisation 2 S.r.l.

DBRS Ratings Limited (“DBRS”) has today discontinued the public rating of AAA (sf) on the remaining EUR 37,614,717 Class A1 Notes issued by BPM Securitisation 2 S.r.l. (the “Issuer”).

The rating action reflects payment in full of the Class A1 Notes.
Notes:
All figures are in Euros unless otherwise noted.

The principal methodology applicable is “Master European Granular Securitisations (SME CLOs)”. Other methodologies and criteria referenced in this transaction are listed at the end of this press release.

This can be found on www.dbrs.com at: http://www.dbrs.com/about/methodologies

The sources of information used for these ratings include the parties involved in the rating, including but not limited to the Originator, Banca Popolare di Milano S.c.a.r.l., the Issuer, BPM Securitisation 2 S.r.l., and its agents.

DBRS does not audit the information it receives in connection with the rating process, and it does not and cannot independently verify that information in every instance. The extent of any factual investigation or independent verification depends on facts and circumstances.

DBRS considers the information made available to it for the purposes of providing this rating to have been of satisfactory quality.

As this is a discontinued-repaid rating action, sensitivity analysis is not applicable.

The previous rating action on this transaction took place on 3 May 2013, when the ratings on the Notes were confirmed.

Information regarding DBRS ratings, including definitions, policies and methodologies are available on www.dbrs.com.

For further information on DBRS’s historic default rates published by the European Securities and Markets Administration (“ESMA”) in a central repository see:
http://cerep.esma.europa.eu/cerep-web/statistics/defaults.xhtml.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.

Ratings assigned by DBRS Ratings Limited are subject to EU regulations only.

Initial Lead Analyst: Simon Ross
Initial Rating Date: 28 December 2011
Initial Rating Committee Chair: Jerry Van Koolbergen

Most Recent Rating Update: 3 May 2013

Lead Surveillance Analyst: Alfonso Candelas
Rating Committee Chair: Jerry Van Koolbergen

DBRS Ratings Limited
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Registered in England and Wales: No. 7139960

The rating methodologies and criteria used in the analysis of this transaction can be found at: http://www.dbrs.com/about/methodologies

“Legal Criteria for European Structured Finance Transactions”
“Master European Structured Finance Surveillance Methodology”
“Master European Granular Corporate Securitisations (SME CLOs)”
“Unified Interest Rate Model for US and European Structured Credit”