...OVERVIEW + On Oct. 31, 2017, we raised to '###' from '###-' our long-term issuer credit rating on UniCredit SpA, following the Oct. 27, 2017 upgrade of Italy. + As a result, we have raised to 'A+' from 'A' our ratings on UniCredit SpA's Italian mortgage covered bond program and related issuances. + The stable outlook on the ratings reflects the stable outlook on Italy. MADRID (S&P Global Ratings) Nov. 6, 2017--S&P Global Ratings today raised to 'A+' from 'A' its credit ratings on the Italian mortgage covered bonds issued by UniCredit SpA. The outlook on the ratings is stable. These upgrades follow our Oct. 31, 2017 rating action on UniCredit SpA (see " Positive Actions Taken On Italian Banks On Reduced Economic Risks And Sovereign Upgrade"). In accordance with our covered bonds criteria, we uplift the ratings on the covered bonds from the issuer credit rating (ICR), taking into account the fact that the issuer is based in a country subject to the EU's Bank Recovery And Resolution Directive,...
