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July 14 (Reuters) - Italian lender Credito Valtellinese (Creval):
* Moody's says rated notes issued by Elrond NPL 2017 vehicle as part of a bad loan securitisation by Creval
* Rated 464.0 million euro senior tranche at 'Baa3'
* Rated 42.5 million euro mezzanine tranche at B1
* Did not rate 20.0 million euro junior tranche
* The assets supporting the notes are non-performing loans with a gross book value of 1.405 million euros of which 30.8 million euros of cash in court
* Loans representing around 26.5 percent of the gross book value are unsecured, while the remaining 73.5 percent of the gross book value are secured loans Further company coverage: (Reporting by Milan Newsroom)