FRANKFURT (Standard&Poor's) Oct. 17, 2013-- Standard&Poor's Ratings Services said today that its ratings and outlook on Unicredit Bank AG's public sector covered bond program ("Öffentliche Pfandbriefe"), and all issuances under it, are unaffected by its lowering of the long-term issuer credit rating on Unicredit Bank from 'A' to 'A-' on Oct. 16,2013. In accordance with our asset liability mismatch (ALMM) criteria the number of available notches of uplift exceeds the number of notches of uplift needed to reach the current 'AAA' rating on the covered bond program. The 'AAA' rating on the program therefore remains unaffected by the one-notch downgrade. Following the rating action that we took on the sponsor bank, Unicredit Bank's public sector covered
