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UGF Banca SpA Nov 10 Product Image

UGF Banca SpA Nov 10

  • Published: November 2010
  • Standard & Poors

FEATURED COMPANIES

  • Unipol Assicurazioni SpA
  • Unipol Banca SpA
  • MORE

Abstract
Strong financial support from Italy's UGF insurance group. Integration within the UGF group's network. High credit risk, exacerbated by significant concentration in the real estate sector. Abrupt asset quality deterioration. Poor profitability. The ratings on Italy-based UGF Banca SpA reflect Standard & Poor's Ratings Services' view of the strong financial support the bank receives from the Italian insurance group UGF SpA (the core operating entity of UGF Assicurazioni SpA; insurer financial strength rating A-/Negative) and the bank's integration within UGF SpA's network. The ratings are constrained by what we consider to be UGF Banca's high credit risk, deteriorating asset quality, poor profitability, and weak--although improving--enterprise risk management. Our long-term counterparty credit rating on UGF Banca incorporates two notches of uplift...

Companies mentioned in this report are:
- Unipol Banca SpA
- Unipol Gruppo Finanziario SpA
- Unipol Assicurazioni SpA

Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, READ MORE >

- Unipol Banca SpA
- Unipol Gruppo Finanziario SpA
- Unipol Assicurazioni SpA

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