We consider that potential extraordinary government support for European banks will likely decrease as resolution frameworks are put into place. We are affirming our 'A-/A-2' counterparty credit ratings on UniCredit Bank AG. The negative outlook reflects the possible removal of government support by year-end 2015, as well as risks from potential further weakness at its Italian parent. As previously announced on April 29, 2014, Standard&Poor's Ratings Services has affirmed its 'A-/A-2' counterparty credit ratings on Germany-based UniCredit Bank AG. The outlook is negative. The affirmation follows the completion of our review of potential extraordinary government support for European banks (see "Standard&Poor's To Review Government Support In European Bank Ratings," published on March 4, 2014, on RatingsDirect).
