Both Standard & Poor's and Fitch Ratings cut their ratings on the Republic of Italy to 'A+' and 'AA-', respectively. The downgrade impacted several credit-linked issues and CPG Societe di Cartolarizzazione Arl (SCCI) paper.

S&P downgraded six ABS deals -- FIP Funding (two tranches for €1.994 billion), BCC Securities (€148 million), Mutina Srl (€412.5 million), Infrastrutture (€25 billion ISPA high speed railway funding program) and (€1.087 billion) and PRIMA FVG (€51 million).

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.