Moody's Confirms Rating of Class A Adriatico Finance SME Italian SME ABS Note

London, 17 June 2013 -- Moody's Investors Service has today confirmed at A2 (sf) the rating of the Class A notes issued by Adriatico Finance SME S.r.l. Sufficient credit enhancement, which protects against sovereign and counterparty risk, primarily drove this confirmation. Today's rating action concludes the review for downgrade initiated by Moody's on 2 August 2012. This transaction is an asset-backed securities (ABS) transaction backed by loans to small and medium-sized enterprises (SMEs) originated by Banca Tercas (unrated and currently operating under the supervision of Bank of Italy).

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