BPL Mortgages S.r.l., Series V: Rating Report

DBRS Ratings GmbH (Morningstar DBRS) assigned a credit rating of AA (sf) to the Class A-2024 Notes issued by BPL Mortgages S.r.l. (the Issuer), Series V following a restructuring of the transaction that was put into effect today (the Third Restructuring, after those in 2016 and 2019). At the same time, Morningstar DBRS downgraded its outstanding credit ratings on the Class A-2012 Notes, issued in December 2012; the Class A-2016 Notes, issued in October 2016; and the Class A-2019 Notes, issued in March 2019, to AA (sf) from AAA (sf).