Sao Paulo, May 07, 2015 -- Moody's América Latina, Ltda. has downgraded the national scale rating of the 59th series of certificates of RB Capital Securitizadora S.A. to A3.br from A2.br and affirmed the Ba3 global scale ratings. This rating action follows the revision of the rating outlook to negative from stable and the affirmation of the senior unsecured rating at Ba3 of BR Properties S.A.'s ("BR Properties"), the guarantor of the underlying tenancy agreements.

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