Frankfurt am Main, July 18, 2013 -- Moody's Investors Service has today downgraded the ratings of four classes of notes issued by BANKINTER 3 FTPYME, FTA (Bankinter 3). Bankinter 3 is a Spanish asset-backed securities transaction backed by loans to small and medium-sized enterprises (SME ABS) originated by Bankinter, S.A. (Ba1). The rating action follows an internal review after a correction to the Coefficient of Variation (CoV) of the loss distribution. Considering the corrected CoV level, insufficient credit enhancement to address sovereign risk and exposure to counterparty risk has prompted today's action. At the same time, the rating agency affirmed the Class D notes at Caa2 (sf). See towards the end of the ratings rationale section of this press release for a detailed list of affected ratings.

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