Moody's Downgrades Ratings in 3 Banca Italease-Originated Lease ABS Transactions

London, 12 July 2013 -- Moody's Investors Service has today downgraded by one to four notches the ratings of the senior and mezzanine tranches issued by Italfinance Securitisation Vehicle (ITA 8), Italfinance Securitisation Vehicle 2 (ITA 9) and Leasimpresa Finance (LF 2). The rating agency has also downgraded the junior rated tranches in ITA 9 and LF 2 by one notch while confirming those in ITA 8. At the same time, Moody's affirmed the ratings of the notes issued by Italease Finance Series 2005-1 (ITA 7). Insufficient credit enhancement, which protects against sovereign and counterparty risk, primarily drove today's rating downgrade.

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