Research Update: UniCredit's German And Austrian Subsidiaries Affirmed At 'BBB+' After Outlook Revision On Parent; Both Outlooks Negative - S&P Global Ratings’ Credit Research

Research Update: UniCredit's German And Austrian Subsidiaries Affirmed At 'BBB+' After Outlook Revision On Parent; Both Outlooks Negative

Research Update: UniCredit's German And Austrian Subsidiaries Affirmed At 'BBB+' After Outlook Revision On Parent; Both Outlooks Negative - S&P Global Ratings’ Credit Research
Research Update: UniCredit's German And Austrian Subsidiaries Affirmed At 'BBB+' After Outlook Revision On Parent; Both Outlooks Negative
Published Nov 06, 2018
8 pages (2590 words) — Published Nov 06, 2018
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

We revised our outlook on Italian bank UniCredit SpA to negative on Oct. 30, 2018, following the similar revision of our sovereign credit rating on Italy. In our view, the likelihood that German subsidiary UniCredit Bank AG's additional loss-absorbing capacity will sustainably exceed our minimum 5% threshold for a one-notch uplift has reduced. We are revising our outlook on UniCredit Bank AG to negative from developing and affirming our 'BBB+/A-2' ratings on UniCredit Bank and UniCredit Bank Austria AG, as well as our ratings on all outstanding instruments. The negative outlooks on both entities indicate that we could lower the ratings if we downgrade the parent, and also reflects uncertainties regarding the details and timeline of the resolution strategy implementation

  
Brief Excerpt:

...+ We revised our outlook on Italian bank UniCredit SpA to negative on Oct. 30, 2018, following the similar revision of our sovereign credit rating on Italy. + In our view, the likelihood that German subsidiary UniCredit Bank AG's additional loss-absorbing capacity will sustainably exceed our minimum 5% threshold for a one-notch uplift has reduced. + We are revising our outlook on UniCredit Bank AG to negative from developing and affirming our '###+/A-2' ratings on UniCredit Bank and UniCredit Bank Austria AG, as well as our ratings on all outstanding instruments. + The negative outlooks on both entities indicate that we could lower the ratings if we downgrade the parent, and also reflects uncertainties regarding the details and timeline of the resolution strategy implementation for UniCredit group....

  
Report Type:

Research Update

Ticker
HVM@GR
Issuer
UniCredit Bank GmbH
GICS
Diversified Banks (40101010)
Sector
Global Issuers, Public Finance, Structured Finance
Country
Germany
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: UniCredit's German And Austrian Subsidiaries Affirmed At 'BBB+' After Outlook Revision On Parent; Both Outlooks Negative" Nov 06, 2018. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-UniCredit-s-German-And-Austrian-Subsidiaries-Affirmed-At-BBB-After-Outlook-Revision-On-Parent-Both-Outlooks-Negative-2125040>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: UniCredit's German And Austrian Subsidiaries Affirmed At 'BBB+' After Outlook Revision On Parent; Both Outlooks Negative Nov 06, 2018. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-UniCredit-s-German-And-Austrian-Subsidiaries-Affirmed-At-BBB-After-Outlook-Revision-On-Parent-Both-Outlooks-Negative-2125040>
  
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