Banco BPM Covered Bonds (OBG - Mortgages - Popolare Programme 1): Surveillance Report

Ratings

• Date Issued	Debt Rated	Rating	Trend	Action	Attributesi 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-Feb-20	Reg CB - IT0004681158	A	--	Confirmed	EU U
  14-Feb-20	Serie IX - IT0005090516	A	--	Confirmed	EU U
  14-Feb-20	Serie VI - IT0004908544	A	--	Confirmed	EU U
  14-Feb-20	Serie VII - IT0004982291	A	--	Confirmed	EU U
  14-Feb-20	Series XI - IT0005322711	A	--	Confirmed	EU U
  14-Feb-20	Series XII - IT0005329583	A	--	Confirmed	EU U

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