Research Update: UBS Ratings Affirmed On Expected Resilience To Economic Effects Of COVID-19; Outlook Remains Stable

Despite governments' and central banks' measures to contain the COVID-19 pandemic, global economies face an unprecedented challenge. We think that UBS Group AG's diversified business profile, well-collateralized credit exposures, and healthy capital and liquidity positions are significant mitigants to this external shock. We are therefore affirming our ratings on UBS Group AG and its subsidiaries. The stable outlook reflects our view that UBS should maintain resilient earnings and robust balance sheet metrics despite weakened operating conditions and higher credit losses. On May 20, 2020, S&P Global Ratings affirmed its 'A-/A-2' issuer credit ratings on Swiss bank holding company UBS Group AG. At the same time, we affirmed our issuer credit ratings on related entities, including the 'A+/A-1' ratings on core

...- Despite governments' and central banks' measures to contain the COVID-19 pandemic, global economies face an unprecedented challenge. - We think that UBS Group AG's diversified business profile, well-collateralized credit exposures, and healthy capital and liquidity positions are significant mitigants to this external shock. - We are therefore affirming our ratings on UBS Group AG and its subsidiaries. - The stable outlook reflects our view that UBS should maintain resilient earnings and robust balance sheet metrics despite weakened operating conditions and higher credit losses....

Research Update