DBRS Discontinues the Rating on Monviso 2013 S.r.l., Class A

DBRS Ratings Limited (DBRS) has today discontinued the rating on the Class A Notes issued by Monviso 2013 S.r.l. due to repayment of the Notes on 23 October 2014. The Class A Notes were previously rated at AAA (sf).

Notes:
All figures are in euros unless otherwise noted.

The principal methodology applicable is “Master European Structured Finance Surveillance Methodology”.

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

The sources of information used for this rating include payment reports provided by Crédit Agricole CIB - Italian Branch (the Paying Agent).

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

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 last rating action on this transaction took place on 22 July 2014, when DBRS upgraded the Class A Notes to AAA (sf) from AA (sf).

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

For further information on DBRS 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.

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

Initial Lead Analyst: Paolo Conti
Initial Rating Date: 9 April 2013
Initial Rating Committee Chair: Chuck Weilamann

Lead Surveillance Analyst: Dylan Cissou
Rating Committee Chair: Chuck Weilamann

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