London, 04 June 2014 -- Moody's Investors Service has today upgraded the rating of the Class B notes and downgraded the rating of the Class C notes issued by Marche Mutui 2 S.r.l, an Italian residential mortgage-backed securities transaction. At the same time, Moody's affirmed the rating of the Class A2 notes. Please see the 'List of affected ratings' at the end of the Ratings Rationale section.

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