London, 11 June 2014 -- Moody's Investors Service has today upgraded by one to three notches the ratings on the senior and mezzanine tranches issued by Italfinance Securitisation Vehicle S.r.l. (ITA 8), Italfinance Securitisation Vehicle 2 S.r.l. (ITA 9) and Leasimpresa Finance S.r.l. (LF 2). At the same time, Moody's affirmed the ratings on the notes issued by Italease Finance S.p.A. Series 2005-1 (ITA 7). Today's actions are due primarily to (1) an improvement in the creditworthiness of the originator and servicer, Banca Italease S.p.a (Banca Italease, deposits Ba3 negative, bank financial strength rating E+/baseline credit assessment b3), which supports the transactions through its obligation to repurchase defaulted loans in ITA 8, ITA 9 and LF 2 at a minimum price; and (2) an increase of credit enhancement for the notes as a result of deleveraging.

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