Credit Rating Report

Belvedere SPV S.r.l.: Rating Report

Nonperforming Loans

Summary

DBRS assigned a BBB (low) (sf ) rating to the Class A notes issued by Belvedere SPV S.r.l. (Belvedere SPV or the Issuer) on 21 December 2018. The notes are issued in the context of a securitisation transaction following the standard provisions under Italian securitisation law (Law n. 130/1999).

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