Bulletin: Italy-Based UBI Banca Ratings Unaffected By The Closing Of The Three Bridge Banks Acquisition

MILAN (S&P Global Ratings) May 12, 2017--S&P Global Ratings said today that its ratings and outlook on UBI Banca SpA (BBB-/Stable/A-3) are unaffected by the bank's announcement that is has closed the acquisition from the National Resolution Fund of 100% of the share capital of Nuova Banca delle Marche, Nuova Banca dell'Etruria e del Lazio, and Nuova Cassa di Risparmio di Chieti. The deal was first announced on Jan. 13, 2017 (see "UBI Banca 'BBB-/A-3' Ratings Affirmed Following Announced Acquisitions; Outlook Stable," published on RatingsDirect). We continue to expect that, given the favorable terms of the offer, this acquisition is unlikely to affect our ratings on UBI. We expect that the bank's risk-adjusted capital ratio will remain sustainably above 5%

...MILAN (S&P Global Ratings) May 12, 2017--S&P Global Ratings said today that its ratings and outlook on UBI Banca SpA (###-/Stable/A-3) are unaffected by the bank's announcement that is has closed the acquisition from the National Resolution Fund of 100% of the share capital of Nuova Banca delle Marche, Nuova Banca dell'Etruria e del Lazio, and Nuova Cassa di Risparmio di Chieti. The deal was first announced on Jan. 13, 2017 (see "UBI Banca '###-/A-3' Ratings Affirmed Following Announced Acquisitions; Outlook Stable," published on RatingsDirect). We continue to expect that, given the favorable terms of the offer, this acquisition is unlikely to affect our ratings on UBI. We expect that the bank's risk-adjusted capital ratio will remain sustainably above 5% at end-2019 and the consolidation of the three banks is unlikely to materially weaken UBI's asset quality and risk profile. The bank has also disclosed the update of UBI's 2016-2020 business plan in which it is targeting initiatives on...

Bulletin