Sestante Finance's Series 4 Class A2 Notes Upgraded; Class B And C Notes Affirmed

We have reviewed Sestante Finance's series 4 notes after expanding the scope of our global RMBS criteria to include Italy, among other countries. We have raised our ratings on the class A2 notes and affirmed our ratings on the class B and C notes. Sestante Finance's series 4 notes were issued in an Italian RMBS transaction that closed in December 2006. The deal securitizes a pool of residential mortgage loans originated by Meliorbanca SpA. MILAN (S&P Global Ratings) June 15, 2021--S&P Global Ratings today raised to 'BBB- (sf)' from 'BB (sf)' its credit rating on Sestante Finance S.r.l.'s series 4 class A2 notes. At the same time, we affirmed our 'D (sf)' ratings on the class B, C1, and C2

...- We have reviewed Sestante Finance's series 4 notes after expanding the scope of our global RMBS criteria to include Italy, among other countries. - We have raised our ratings on the class A2 notes and affirmed our ratings on the class B and C notes. - Sestante Finance's series 4 notes were issued in an Italian RMBS transaction that closed in December 2006. The deal securitizes a pool of residential mortgage loans originated by Meliorbanca SpA. MILAN (S&P Global Ratings) June 15, 2021--S&P Global Ratings today raised to '###- (sf)' from '## (sf)' its credit rating on Sestante Finance S.r.l.'s series 4 class A2 notes. At the same time, we affirmed our 'D (sf)' ratings on the class B, C1, and C2 notes. Today's rating actions follow the implementation of our revised criteria and assumptions for assessing pools of Italian residential loans (see "Related Criteria"). They are based on our analysis of the most recent information that we have received and the transaction's current structural features....

Ratings Action