Press release

Downgrade of Moody's rating on CDP's Covered Bond Programme

Rome, 6 October 2011

Cassa depositi e prestiti Spa (CDP) announces that today the rating agency Moody’s has lowered the rating on CDP’s Covered Bond Programme from Aaa to Aa1 mantaining the rating on review for possible downgrade..

The decisioncomes in the wake of the same move taken by the agency for the rating on the Republic of Italy and for the rating on CDP.




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