MILAN (Standard&Poor's) June 15, 2005--Standard&Poor's Ratings Services said today that, following the June 13 joint announcement by UniCredito Italiano SpA and Bayerische Hypo- und Vereinsbank AG (HVB) that it is their intention to proceed with the share-for-share offer, its 'AA-' long-term and 'A-1+' short-term counterparty credit ratings on UniCredito and subsidiary Unicredit Banca Mobiliare SpA remain on CreditWatch with negative implications. The 'A+' long-term and 'A-1' short-term counterparty credit ratings on leasing subsidiary Locat SpA also remain on CreditWatch with negative implications. The 'A-' long-term and 'A-2' short-term counterparty credit ratings on HVB, Bank Austria Creditanstalt AG (BA), and HVB Banque Luxembourg S.A. (HVB Lux) remain on CreditWatch with positive implications. All the ratings were placed
