Civitas SPV Series 2017-1's Class A1 To B Italian RMBS Ratings Raised - S&P Global Ratings’ Credit Research

Civitas SPV Series 2017-1's Class A1 To B Italian RMBS Ratings Raised

Civitas SPV Series 2017-1's Class A1 To B Italian RMBS Ratings Raised - S&P Global Ratings’ Credit Research
Civitas SPV Series 2017-1's Class A1 To B Italian RMBS Ratings Raised
Published Oct 20, 2025
4 pages (1947 words) — Published Oct 20, 2025
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

On July 25, 2025, we placed our ratings on Civitas SPV's series 2017-1?s class A1, A2, and B notes under criteria observation (UCO) following the publication of our revised counterparty criteria. The maximum potential rating for Italian RMBS transactions under our sovereign risk criteria is 'AA+' following the sovereign upgrade of our unsolicited long-term sovereign rating on Italy to 'BBB+' from 'BBB' on April 11, 2025. Following our review and based on the sovereign upgrade, we have raised our ratings on all classes of notes and resolved the UCO placements, concluding a counterparty risk cap no longer applies. Civitas SPV's series 2017-1 securitizes a pool of Italian residential mortgages that Banca di Cividale S.p.A. granted to individuals, small entrepreneurs, and

  
Brief Excerpt:

...On July 25, 2025, we placed our ratings on Civitas SPV's series 2017-1's class A1, A2, and B notes under criteria observation (UCO) following the publication of our revised counterparty criteria....

  
Report Type:

Ratings Action

Issuer
Civitas SPV S.r.l.
Sector
Structured Finance
Country
Italy
Region
Europe, Middle East, Africa
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Civitas SPV Series 2017-1's Class A1 To B Italian RMBS Ratings Raised" Oct 20, 2025. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Civitas-SPV-Series-2017-1-s-Class-A1-To-B-Italian-RMBS-Ratings-Raised-3461347>
  
APA:
S&P Global Ratings’ Credit Research. (). Civitas SPV Series 2017-1's Class A1 To B Italian RMBS Ratings Raised Oct 20, 2025. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Civitas-SPV-Series-2017-1-s-Class-A1-To-B-Italian-RMBS-Ratings-Raised-3461347>
  
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