BPL Mortgages S.r.l. (BPL8): Rating Report

DBRS Ratings GmbH (Morningstar DBRS) assigned a credit rating of A (sf) to the EUR 2,851,700,000 Class A 2025 Asset Backed Floating Rate Notes due 25 October 2064 (the Class A 2025 Notes) issued by BPL Mortgages S.r.l. (BPL8) (the Issuer), following the transaction restructuring. Morningstar DBRS also downgraded the credit rating of the outstanding EUR 389,457,144 Class A 2022 Asset Backed Floating Rate Notes due 25 October 2064 issued by the same Issuer, from AA (low) (sf) to A (sf).