...- On April 23, 2020, we lowered our long-term issuer credit rating (ICR) and our long-term resolution counterparty rating (RCR) on Commerzbank AG, the swap counterparty for Sestante Finance series 2's class B notes. - Under our current counterparty criteria, our rating on Sestante Finance series 2's class B notes is capped at our long-term RCR on Commerzbank. We have therefore lowered our rating on these notes to 'A- (sf)' from 'A (sf)'. - Sestante Finance series 2 is an Italian RMBS transaction, which closed in December 2004. It securitizes a pool of residential mortgage loans originated by Meliorbanca. MILAN (S&P Global Ratings) May 05, 2020--S&P Global Ratings today lowered its credit rating on Sestante Finance S.r.l.'s series 2 class B notes to 'A- (sf)' from 'A (sf)'. On April 23, 2020, we lowered to '###+' from 'A-' our long-term ICR on Commerzbank AG. At the same time, we lowered the long-term RCR to 'A-' from 'A' on Commerzbank, which is the swap counterparty in this transaction....
