TEXT - Fitch affirms Casaforte S.r.l.

Tue Jan 15, 2013 9:55am EST

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(The following statement was released by the rating agency)
    Jan 15 - Fitch Ratings has affirmed Casaforte S.r.l's notes, due June 2040,
as follows.

EUR1,536.6m class A, due June 2040: affirmed at 'BBBsf'; Outlook Stable 
EUR135.9m class B, due June 2040: affirmed at 'BBBsf'; Outlook Stable

The transaction is a securitisation of rental income deriving from the leasing 
of 683 bank branches and offices in Italy. These real estate assets are let to 
Banca MPS ('BBB'/Stable/'F3') and its subsidiaries until July 2033. 

Fitch affirmed Banca MPS on the 21st of December 2012. Since the notes are fully
credit-linked to Banca MPS's, which is the sole tenant, any change in the bank's
rating is likely to result in a corresponding change for the notes.

Surveillance data on the transaction are available on www.fitchratings.com 

 (Caryn Trokie, New York Ratings Unit)