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Research Update: UniCredit And Most Core Subsidiaries 'A/A-1' Ratings Placed On Watch Negative On Same Action On Italy Dec 11 Product Image

Research Update: UniCredit And Most Core Subsidiaries 'A/A-1' Ratings Placed On Watch Negative On Same Action On Italy Dec 11

  • Published: December 2011
  • Standard & Poors

FEATURED COMPANIES

  • HVB Capital LLC I
  • HVB Capital LLC III
  • HVB Funding Trust II
  • HVB U.S. Finance Inc.
  • UniCredit Bank Austria AG
  • UniCredit Leasing SpA
  • MORE

Abstract
Standard & Poor's placed its unsolicited 'A/A-1' unsolicited long- and short-term sovereign ratings on the Republic of Italy on CreditWatch with negative implications on Dec. 5, 2011. Consequently, we are placing our 'A/A-1' long- and short-term ratings on UniCredit SpA and most core subsidiaries on CreditWatch with negative implications. The negative CreditWatch placement reflects the possibility that a downgrade of Italy and our view of any worsening in our stand-alone credit profile for UniCredit may affect the ratings on UniCredit and most core subsidiaries. We intend to resolve the CreditWatch placement on Unicredit and most core subsidiaries shortly after the resolution of the CreditWatch placement on Italy. We expect that the ratings on UniCredit and most core subsidiaries could either...

Action: On CreditWatch:Negative

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 READ MORE >

- UniCredit SpA
- Unicredit Delaware Inc.
- UniCredit Bank Austria AG
- Bank Polska Kasa Opieki S.A.
- UniCredit Bank AG
- HVB Capital LLC I
- HVB Funding Trust II
- HVB Funding Trust I
- HVB Funding Trust III
- HVB Capital LLC III
- HVB Capital LLC II
- UniCredito Italiano Capital Trust
- UniCredit Leasing SpA
- HVB U.S. Finance Inc.
- UniCredit Bank Ireland PLC
- BA-CA Finance (Cayman) Ltd.
- Unicredit International Bank (Luxembourg) S.A.
- BA-CA Finance (Cayman) (2) Ltd.
- UniCredit Luxembourg Finance S.A.
- UniCredito Italiano Capital Trust III
- UniCredito Italiano Capital Trust IV

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