Research Update: Germany-Based UniCredit Bank 'A/A-1' Ratings Affirmed And Removed From Watch Negative; Outlook Negative Feb 12
- Language: English
- Published: February 2012
The ratings on Germany-based UniCredit Bank AG (UCAG; formerly Bayerische Hypo- und Vereinsbank AG) are based on what Standard & Poor's Ratings Services considers to be UCAG's core status within the UniCredit group (parent company UniCredit SpA; A/Stable/A-1). UCAG's core status, which raises its stand-alone creditworthiness by two notches, reflects the bank's 100% ownership by UniCredit SpA and its role as the group's center of competence for its capital markets business and Germany-based operations. The recent renaming of the bank underpins its integration into the group. UCAG's strong capitalization is a key factor supporting our assessment of its stand-alone credit profile. We consider UCAG a highly systemically important institution in Germany, but we do not factor government support into the...
Companies mentioned in this report are:
- UniCredit Bank AG
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >
- UniCredit Bank AG