Moody's upgrades one note and affirms two notes in Portuguese Magellan Mortgages No. 2 plc
London, 27 November 2015 -- Moody's Investors Service has today upgraded the rating of the Class C notes to Baa1 (sf) from Ba1 (sf) and affirmed the ratings of the Class A and B notes in Magellan Mortgages No. 2 plc. The rating upgrade reflects (1) the increased level of credit enhancement for the affected note and (2) the assignment of Banco Comercial Portugues, S.A.'s Counterparty Risk ("CR") Assessment on 11 June 2015.