OVERVIEW Today's rating actions follow the application of our revised criteria for assessing asset-liability mismatch risk in covered bonds. We affirmed and removed from CreditWatch negative our ratings on UniCredit Bank's public sector covered bonds and the debt it issues. We assigned a stable outlook to the rating on UniCredit Bank's covered bonds. UniCredit Bank was formerly known as Bayerische Hypo- und Vereinsbank AG. STOCKHOLM (Standard&Poor's) March 9, 2010--Standard&Poor's Ratings Services today affirmed and removed from CreditWatch negative its 'AAA' long-term and 'A-1+' short-term credit ratings on UniCredit Bank AG's public sector covered bonds (Öffentliche Pfandbriefe). At the same time, we have assigned a stable outlook to UniCredit Bank's covered bonds (see ratings list below). Today's
