UniCredit SpA Italian Mortgage Covered Bond Ratings Raised Following Sovereign Action; Outlook Stable - S&P Global Ratings’ Credit Research

UniCredit SpA Italian Mortgage Covered Bond Ratings Raised Following Sovereign Action; Outlook Stable

UniCredit SpA Italian Mortgage Covered Bond Ratings Raised Following Sovereign Action; Outlook Stable - S&P Global Ratings’ Credit Research
UniCredit SpA Italian Mortgage Covered Bond Ratings Raised Following Sovereign Action; Outlook Stable
Published Apr 29, 2025
4 pages (1743 words) — Published Apr 29, 2025
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

On April 11, 2025, we raised our unsolicited long-term sovereign credit ratings on Italy to 'BBB+' and affirmed the 'A-2 'short-term ratings. The outlook on the ratings is unchanged at stable. Following this rating action and the application of our criteria, we raised to 'AA' from 'AA-' our ratings on UniCredit SpA's mortgage covered bonds. The outlook on the covered bond ratings is unchanged at stable and reflects our outlook on the sovereign rating. On April 18, 2025, we raised our long-term issuer credit rating (ICR) on UniCredit SpA to 'BBB+' from 'BBB' and affirmed the 'A-2' short-term issuer credit rating. This means that the program still benefits from one unused notch of collateral-based uplift. FRANKFURT (S&P Global Ratings) April

  
Brief Excerpt:

...- On April 11, 2025, we raised our unsolicited long-term sovereign credit ratings on Italy to '###+' and affirmed the 'A-2 'short-term ratings. The outlook on the ratings is unchanged at stable. - Following this rating action and the application of our criteria, we raised to '##' from '##-' our ratings on UniCredit SpA's mortgage covered bonds. - The outlook on the covered bond ratings is unchanged at stable and reflects our outlook on the sovereign rating. - On April 18, 2025, we raised our long-term issuer credit rating (ICR) on UniCredit SpA to '###+' from '###' and affirmed the 'A-2' short-term issuer credit rating. This means that the program still benefits from one unused notch of collateral-based uplift. FRANKFURT (S&P Global Ratings) April 29, 2025--S&P Global Ratings today raised its credit ratings on UniCredit SpA's mortgage covered bond program and related issuances ("obbligazioni bancarie garantite") to '##' from '##-'. The outlook on the ratings is unchanged at stable. Today's...

  
Report Type:

Ratings Action

Ticker
UC@IM
Issuer
UniCredit SpA
GICS
Diversified Banks (40101010)
Sector
Global Issuers, Public Finance, Structured Finance
Country
Italy
Region
United States
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "UniCredit SpA Italian Mortgage Covered Bond Ratings Raised Following Sovereign Action; Outlook Stable" Apr 29, 2025. Alacra Store. May 18, 2025. <http://www.alacrastore.com/s-and-p-credit-research/UniCredit-SpA-Italian-Mortgage-Covered-Bond-Ratings-Raised-Following-Sovereign-Action-Outlook-Stable-3360701>
  
APA:
S&P Global Ratings’ Credit Research. (). UniCredit SpA Italian Mortgage Covered Bond Ratings Raised Following Sovereign Action; Outlook Stable Apr 29, 2025. New York, NY: Alacra Store. Retrieved May 18, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/UniCredit-SpA-Italian-Mortgage-Covered-Bond-Ratings-Raised-Following-Sovereign-Action-Outlook-Stable-3360701>
  
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