...OVERVIEW + On March 1, 2019, our revised structured finance ratings above the sovereign criteria became effective. + Following our review of UniCredit's mortgage covered bond program under these criteria, we have raised to '##-' from 'A+' our ratings on the covered bonds. + Our outlook on the ratings is negative, reflecting the negative outlook on the long-term sovereign rating on Italy. LONDON (S&P Global Ratings) March 20, 2019--S&P Global Ratings today raised to '##-' from 'A+' its credit ratings on UniCredit SpA's Italian mortgage covered bond program and related issuances. Upon revising our structured finance ratings above the sovereign criteria in January 2019, we placed our ratings on covered bond programs that could potentially be affected under criteria observation (see "Incorporating Sovereign Risk In Rating Structured Finance Securities: Methodology And Assumptions," published on Jan. 30, 2019). Following our review, our ratings for this program are no longer under criteria observation....
