...FRANKFURT (S&P Global Ratings) May 14, 2018--S&P Global Ratings said today that its ratings on six outstanding additional tier 1 (AT1) instruments issued by Switzerland-based UBS Group AG (A-/Stable/A-2) are unaffected by the group's announcement today that it plans to make UBS Group Funding (Switzerland) AG (not rated) the issuer of these notes. Following the transfer, UBS Group AG will continue to guarantee payments under the capital instruments on a subordinated basis. The guarantee language is in line with our guarantee criteria and mirrors the guarantee UBS Group AG already has in place for another AT1 instrument issued by UBS Group Funding (Switzerland) AG on Jan. 29, 2018. This means we continue to link our ratings on these capital instruments to UBS Group AG after the issuer substitution. The ISINs of the instruments affected by the issuer substitution are CH027148309, CH027148317, CH027148333, CH0286864027, CH0317921697, and CH033145318. Only a rating committee may determine a...
