The first cross-border take-out securitization of housing development loans has received a provisional rating from Moody's Investors Service, according to the rating agency.Moody's assigned its Baa1 provisional foreign currency rating to the $100 million transaction, Metrofinanciera series 2004-2. Metrofinanciera, one of the nonbank financial institutions in Mexico known as sociedades financieras de objeto limitado, originated the residential housing construction loans underlying the variable-rate note securitization. Moody's can be found online at http://www.moodys.com.

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