Frankfurt am Main, April 29, 2013 -- Moody's has determined that the proposed action (the "Proposal") of UniCredit Bank AG, London Branch (the "Bank"), if implemented, will not, in and of itself and at this time, result in a downgrade or withdrawal of the current ratings of the notes (the "Notes") issued by Impresa One S.r.l.(the "Issuer"). Moody's opinion addresses only the credit impact of the Proposal, and Moody's is not expressing any opinion as to whether the Proposal has, or could have other, non-credit related effects that may have a detrimental impact on the interests of note holders and/or counterparties.

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