UBI Banca SpA 'BBB-' Rating Affirmed Following Business Plan Presentation; Outlook Remains Stable - S&P Global Ratings’ Credit Research

UBI Banca SpA 'BBB-' Rating Affirmed Following Business Plan Presentation; Outlook Remains Stable

UBI Banca SpA 'BBB-' Rating Affirmed Following Business Plan Presentation; Outlook Remains Stable - S&P Global Ratings’ Credit Research
UBI Banca SpA 'BBB-' Rating Affirmed Following Business Plan Presentation; Outlook Remains Stable
Published Jul 06, 2016
4 pages (1901 words) — Published Jul 06, 2016
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

On June 27, 2016, UBI Banca SpA (UBI) presented its new strategic plan, which includes a series of initiatives on cost efficiency, revenue generation, and group structure streamlining, which have been introduced to target return on tangible equity of 10.6% by end-2020. The bank announced a series of one-off costs including extra loan loss provisions of €850 million leading to 6% higher nonperforming loans coverage or 35% pro forma as of March 2016. Although we expect these initiatives to result in UBI reporting a full year 2016 net loss, we consider the impact on its overall creditworthiness to be manageable. We are therefore affirming our 'BBB-/A-3' counterparty credit ratings on UBI Banca SpA. The outlook remains stable. MADRID (S&P Global

  
Brief Excerpt:

...+ On June 27, 2016, UBI Banca SpA (UBI) presented its new strategic plan, which includes a series of initiatives on cost efficiency, revenue generation, and group structure streamlining, which have been introduced to target return on tangible equity of 10.6% by end-2020. + The bank announced a series of one-off costs including extra loan loss provisions of 850 million leading to 6% higher nonperforming loans coverage or 35% pro forma as of March 2016. + Although we expect these initiatives to result in UBI reporting a full year 2016 net loss, we consider the impact on its overall creditworthiness to be manageable. + We are therefore affirming our '###-/A-3' counterparty credit ratings on UBI Banca SpA. The outlook remains stable. MADRID (S&P Global Ratings) July 6, 2016--S&P Global Ratings today affirmed its '###-/A-3' counterparty credit ratings on Italy-based UBI Banca SpA (UBI). The outlook remains stable. The affirmation reflects our view that the new 2020 strategic plan and UBI's strengthening...

  
Report Type:

Ratings Action

Ticker
BPU@IM
Issuer
UBI Banca SpA
GICS
Diversified Banks (40101010)
Sector
Global Issuers, Structured Finance
Country
Italy
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "UBI Banca SpA 'BBB-' Rating Affirmed Following Business Plan Presentation; Outlook Remains Stable" Jul 06, 2016. Alacra Store. May 18, 2025. <http://www.alacrastore.com/s-and-p-credit-research/UBI-Banca-SpA-BBB-Rating-Affirmed-Following-Business-Plan-Presentation-Outlook-Remains-Stable-1669516>
  
APA:
S&P Global Ratings’ Credit Research. (). UBI Banca SpA 'BBB-' Rating Affirmed Following Business Plan Presentation; Outlook Remains Stable Jul 06, 2016. New York, NY: Alacra Store. Retrieved May 18, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/UBI-Banca-SpA-BBB-Rating-Affirmed-Following-Business-Plan-Presentation-Outlook-Remains-Stable-1669516>
  
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