Sao Paulo, August 15, 2013 -- Moody's América Latina (Moody's) downgraded to B1 from Ba3 (global scale, local currency) and to Baa3.br from A3.br (national scale) the 15th series of the 1st issuance of real estate certificates (CRI or certificates) issued by PDG Companhia Securitizadora. This rating action follows a similar rating action on PDG Realty S.A. Empreendimentos e Participações (PDG) that was announced on August 13, 2013.
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