MILAN (Standard&Poor's) Feb. 1, 2005--Standard&Poor's Ratings Services said today it affirmed its 'AA-' long-term and 'A-1+' short-term counterparty credit ratings on Italian bank UniCredito Italiano SpA (UniCredito), following the announcement that Koç Financial Services (KFS), a 50-50 joint venture between UniCredito and Turkish industrial group Koç Holding, signed an agreement to acquire Turkish bank Yapi ve Kredi Bankasi A.S. (YKB; Bpi/--/--). At the same time, Standard&Poor's affirmed its 'BB-' long-term and 'B' short-term counterparty credit ratings on Koçbank, 100%-owned by KFS. The outlook on both banks is stable. "This purchase is in line with UniCredito's strategy of enhancing its presence in countries seeking to join the EU," said Standard&Poor's credit analyst Alberto
