Madrid, June 28, 2013 -- Moody's Investors Service has today downgraded the ratings of 11 mezzanine and junior notes in three Portuguese residential mortgage-backed securities (RMBS) transactions: Lusitano Mortgages No. 1 plc, Lusitano Mortgages No. 2 plc and Lusitano Mortgages No. 3 plc. Also, Moody's Investors Service has today confirmed the ratings of the senior notes in Lusitano 2 and 3. Insufficiency of credit enhancement to address sovereign risk has prompted today's downgrade action.

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