Scope upgrades the class A notes issued by Itaca SPV S.r.l., a static cash securitisation of Italian non-performing loan receivables, following a monitoring review.

Scope has reviewed the performance of Itaca SPV S.r.l. and has affirmed the rating of Cl. A following a a calculation error correction.

The amendment to the cap confirmation to reduce the notional amount of the cap agreement, based on the draft documentation available to Scope, does not in and of itself, result in a rating action or withdrawal of the current ratings of the class A note.

No action has been taken on the notes of 5 Italian NPL transactions following their monitoring review.

Scope Ratings GmbH (Scope) has today assigned a final rating to the notes issued by Itaca SPV S.r.l., a cash securitisation of a EUR 1,128m portfolio of Italian non-performing loans originated by Unicredit S.p.A