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Research Update: Germany-Based UniCredit Bank 'A/A-1' Ratings Affirmed And Removed From Watch Negative; Outlook Negative Feb 12
Standard & Poors, February 2012
We have lowered our long- and short-term ratings on Italy-Based UniCredit SpA to 'BBB+/A-2' from 'A/A-1' and removed them from CreditWatch negative, where they were placed on Dec. 7, 2011. The stand-alone credit profile for UniCredit is unchanged at 'a-'. We are affirming our 'A/A-1' long- and short-term counterparty credit ratings on Germany-based UniCredit Bank AG and removing them from CreditWatch negative, where they were placed on Dec. 7, 2011. The affirmation reflects our opinion that UniCredit Bank AG is less affected than parent UniCredit SpA by the downgrade on Italy on Jan. 13, 2012, given its business focus in Germany (AAA/Stable/A-1+) and high systemic importance within the supportive German banking sector. The negative outlook reflects the possibility that we...
Action: Outlook: Negative
Action: Removed From CreditWatch
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- UniCredit Bank AG
- UniCredit SpA
- Unicredit Delaware Inc.
- UniCredit Bank Austria AG
- Bank Polska Kasa Opieki S.A.
- 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
- Unicredit Luxembourg S.A.
- 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