Mexico, May 07, 2013 -- Moody's de Mexico downgraded Urbi Desarrollos Urbanos, S.A.B. de C.V.'s ("Urbi") national scale Certificados Bursatiles program rating to Ca.mx, from Caa2.mx (global scale local currency rating to (P)Ca from (P)Caa2), its national scale senior unsecured debt rating to Ca.mx, from Caa2.mx (global scale local currency rating to Ca from Caa2) and its corporate family rating to Ca from Caa2. These ratings remain under review for downgrade. Urbi's commercial paper program on the national scale was affirmed at MX-4 (global scale local currency commercial paper program rating affirmed at Not Prime).

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