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S&P Credit Research826 word report
published Aug 04, 2009
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S&P Credit Research
| Abstract: | LONDON (Standard&Poor's) Aug. 4, 2009--Standard&Poor's Ratings Services said today that its ratings and outlook on UBS AG (A+/Stable/A-1) are unaffected by today's earnings announcement for the second quarter of 2009. UBS reported a Swiss franc (CHF) 1.3 billion pretax loss for the second quarter, in line with its previous guidance. Excluding a fair-value loss on own credit, a goodwill impairment charge relating to the agreed disposal of Brazilian subsidiary UBS Pactual, and a restructuring charge, UBS achieved an operating profit--of CHF971 million--for the first time since the second quarter of 2007. This primarily reflects a reduction in losses in the investment bank division's fixed income segment. In our view, the investment bank's performance remained weak, however,
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| Brief Excerpt: | RESEARCH Ratings Definitions UBS AG Ratings Unaffected Following Announcement Of Second-Quarter 2009 Results Publication date: 04-Aug-2009 Primary Credit Analyst: Richard Barnes, London (44) 20-7176-7227; richard_barnes@standardandpoors.com...
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| Report Type: | News
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| Ticker: | UBSN@VX
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| Issuer: | UBS AG
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| GICS: | Diversified Capital Markets (40203030)
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Country: | Switzerland
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
Also from S&P Credit Research
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- Summary: UBS AG $175.00
The ratings on Swiss bank UBS AG reflect our view of its own credit characteristics and extraordinary external support from the Swiss government and central bank (the SNB). Specifically, the long-term counterparty credit rating reflects a two-notch ...
- UBS AG's Weak Fourth-Quarter 2008 Result In Line With Expectations; Ratings Unchanged $100.00
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- UBS AG Ratings Lowered To 'A+/A-1'; Off Watch; Outlook Stable; Hybrids Lowered To 'BBB+' $100.00
LONDON (Standard&Poor's) Dec. 19, 2008--Standard&Poor's Ratings Services said today it lowered its long-term counterparty credit ratings on Swiss bank UBS AG and its core subsidiaries UBS Ltd., UBS Loan Finance LLC, UBS Bank (Canada), and UBS ...
- Research Update: UBS AG Ratings Lowered To 'A+/A-1'; Off Watch; Outlook Stable; Hybrids Lowered To 'BBB+' $175.00
On Dec. 19, 2008, Standard&Poor's Ratings Services lowered its long-term counterparty credit ratings on Swiss bank UBS AG and its core subsidiaries UBS Ltd., UBS Loan Finance LLC, UBS Bank (Canada), and UBS Securities LLC to 'A+' from 'AA-'. ...
