Moody's Takes No Negative Action on LTR Finance No. 6 plc, Portuguese Auto ABS from Banco Finantia

Frankfurt am Main, July 01, 2013 -- Moody's Investors Service has today affirmed and confirmed the ratings on the Class B and Class D notes, respectively, and upgraded the class C notes from Ba3 (sf) to Baa3 (sf) in LTR Finance No. 6 plc (LTR 6). Sufficient levels of credit enhancement, which protect against sovereign and counterparty risk, primarily drove the rating actions. This transaction is an asset-backed securities (ABS) transaction backed by Portuguese (85.0%) and Spanish (15.0%) auto receivables originated by Banco Finantia S.A. (not rated). The outstanding securitized receivables are predominantly auto loans - 80.0% of the current outstanding portfolio - besides auto lease and long-term rental receivables which make up 20.0% of the portfolio. Today's rating actions conclude the review for downgrade initiated by Moody's on 11 September 2012.

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