Moody's upgrades ratings in 3 Greek RMBS transactions

Deniz Kılınç / İstanbul, May 14 (DHA) – Moody’s Investor’s Service has upgraded the ratings of siz Notes and affirmed the rating of one Note in three Greek RMBS transactions.
While Moody’s stated that the rating actions reflects the decrease in country risk and the related rise in the local-currency country ceiling for Greece on 21 February, the ratings were given as follows:
Issuer: Estia Mortgage Finance II PLC
EUR1137.5M Class A Notes, Upgraded to Ba3 (sf); previously on Feb 27, 2018 Caa1 (sf) Placed Under Review for Possible Upgrade

Issuer: Grifonas Finance No. 1 Plc
EUR897.7M Class A Notes, Upgraded to Ba3 (sf); previously on Feb 27, 2018 B3 (sf) Placed Under Review for Possible Upgrade

EUR23.8M Class B Notes, Upgraded to Caa1 (sf); previously on Feb 27, 2018 Caa3 (sf) Placed Under Review for Possible Upgrade

EUR28.5M Class C Notes, Confirmed at Caa3 (sf); previously on Feb 27, 2018 Caa3 (sf) Placed Under Review for Possible Upgrade

Issuer: KION Mortgage Finance Plc
EUR553.8M Class A Notes, Upgraded to Ba2 (sf); previously on Feb 27, 2018 B3 (sf) Placed Under Review for Possible Upgrade

EUR28.2M Class B Notes, Upgraded to Ba3 (sf); previously on Feb 27, 2018 Caa3 (sf) Placed Under Review for Possible Upgrade

EUR18M Class C Notes, Upgraded to B1 (sf); previously on Feb 27, 2018 Caa3 (sf) Placed Under Review for Possible Upgrade

According to Moody’s, the upgrades “reflects Greece’s reduced country risk associated to the affected transaction”.