Morningstar DBRS Discontinues Credit Rating on Class C Notes of ERNA S.r.l.

DBRS Ratings GmbH (Morningstar DBRS) discontinued its credit rating on the Class C Notes issued by ERNA S.r.l. as the notes were fully redeemed on 25 July 2024.

Prior to their repayment, the credit rating and the outstanding principal balance on the Class C notes were as follows:
-- Class C notes rated at BBB (low) (sf); EUR 7,825,740.

The principal methodology applicable to the credit rating is:

European CMBS Rating and Surveillance Methodology (17 January, 2024) https://dbrs.morningstar.com/research/426818.

In Morningstar DBRS' opinion, a discontinued-repaid credit rating action does not warrant the application of the entire principal methodology.

For details on analytical and regulatory disclosures please refer to the latest rating action press release published for this transaction: https://dbrs.morningstar.com/research/432237.

Lead Analyst: Violetta Volovich, Assistant Vice President, European Commercial Real Estate Ratings
Rating Committee Chair: Mirco Iacobucci, Senior Vice President, Sector Lead
Initial Rating Date: 10 May 2019

DBRS Ratings GmbH
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60311 Frankfurt am Main Deutschland
Tel. +49 (69) 8088 3500
Geschäftsführer: Detlef Scholz
Amtsgericht Frankfurt am Main, HRB 110259

A description of how Morningstar DBRS analyses structured finance transactions and how the methodologies are collectively applied can be found at: https://dbrs.morningstar.com/research/439604.

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