Report title: UBS AG Reports Another Quarterly Loss In Q1; Ratings Unaffected
from S&P Credit Research
1021 word report published May 05, 2009

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Abstract: LONDON (Standard&Poor's) May 5, 2009--Standard&Poor's Ratings Services said today that its ratings and outlook on Swiss bank UBS AG (A+/Stable/A-1) are unaffected by today's announcement of a loss for the first quarter of 2009. This result, which was broadly in line with our expectations, illustrates the challenges facing UBS as it seeks to reposition its businesses. The ratings reflect our view of both UBS' stand-alone credit profile and the significant support provided to it by the Swiss government and the Swiss National Bank (SNB). Specifically, the long-term counterparty credit rating incorporates a two-notch uplift from the stand-alone credit profile. UBS reported a pretax loss of Swiss franc (CHF) 1.6 billion for the first quarter, excluding gains

Brief Excerpt: RESEARCH Ratings Definitions UBS AG Reports Another Quarterly Loss In Q1; Ratings Unaffected Publication date: 05-May-2009 Primary Credit Analyst: Richard Barnes, London (44) 20-7176-7227; richard_barnes@standardandpoors.com Secondary...

Report Type: News
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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