05.07.2013 20:27:00

Moody's downgrades mezzanine notes in Atlantes Mortgages and Azor Mortgages Portuguese RMBS transactions

Frankfurt am Main, July 05, 2013 -- Moody's Investors Service has today downgraded the ratings of three mezzanine and one junior notes in two Portuguese residential mortgage-backed securities (RMBS) transactions: Atlantes Mortgages No.1 Plc and Azor Mortgages Public Limited Company. At the same time, Moody's confirmed the rating of junior note in Atlantes Mortgages No.1 Plc. Insufficiency of credit enhancement to address sovereign risk and counterparty exposure have prompted today's downgrade.

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