Report title: Research Update: UBS AG 'AA/A-1+' Ratings Affirmed On Capital Injection And Additional Subprime Writedowns
from S&P Credit Research
1101 word report published Dec 10, 2007

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Abstract: On Dec. 10, 2007, Standard&Poor's Ratings Services affirmed its 'AA/A-1+' counterparty credit ratings on Swiss bank UBS AG. The outlook remains stable. The rating action follows today's announcement by UBS of a substantial capital raising and further writedowns on its significant exposures related to U.S. subprime mortgages. UBS has today announced a number of measures to boost its Bank for International Settlements (BIS) Tier 1 capital by about Swiss franc (CHF) 19.4 billion ($17.2 billion) over the coming months. This sum represents 47% of UBS' BIS Tier 1 capital base as at Sept. 30, 2007. Subject to shareholder approval, the majority will be raised by the sale to two strategic investors of CHF13 billion ($11.5 billion) of mandatory

Brief Excerpt: RESEARCH Ratings Definitions Research Update: UBS AG '##/A-1+' Ratings Affirmed On Capital Injection And Additional Subprime Writedowns Publication date: 10-Dec-2007 Primary Credit Analyst: Richard Barnes, London (44) 20-7176-7227;...

Report Type: Research Update
Ticker: UBSN@VX
Issuer: UBS AG
GICS: Diversified Capital Markets (40203030)
Sector: Global Issuers, Public Finance, Structured Finance
Country: Switzerland
Region: United States
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