Various Rating Actions Taken On Credit Suisse And UBS Group Entities After Merger Completion - S&P Global Ratings’ Credit Research

Various Rating Actions Taken On Credit Suisse And UBS Group Entities After Merger Completion

Various Rating Actions Taken On Credit Suisse And UBS Group Entities After Merger Completion - S&P Global Ratings’ Credit Research
Various Rating Actions Taken On Credit Suisse And UBS Group Entities After Merger Completion
Published Jun 12, 2023
5 pages (2501 words) — Published Jun 12, 2023
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

On June 12, 2023, UBS Group AG closed the acquisition of Credit Suisse Group AG and its subsidiaries, with all Credit Suisse's Group AG's assets, liabilities, and contracts merged into UBS Group AG. We raised our long-term issuer credit rating on Credit Suisse Group AG to 'A-' from 'BBB-', removed it from CreditWatch positive after the placement on March 20, 2023, and subsequently withdrew the rating because the legal entity was dissolved following the merger. We assess Credit Suisse's rated European and U.S. operating companies as highly strategic to UBS and therefore upgraded these entities to 'A/A-1' from 'A-/A-2'. We affirmed the 'A-/A-2' issuer credit ratings on UBS Group AG and UBS Americas Holding LLC, UBS group's nonoperating holding companies.

  
Brief Excerpt:

...June 12, 2023 - On June 12, 2023, UBS Group AG closed the acquisition of Credit Suisse Group AG and its subsidiaries, with all Credit Suisse's Group AG's assets, liabilities, and contracts merged into UBS Group AG. - We raised our long-term issuer credit rating on Credit Suisse Group AG to 'A-' from '###-', removed it from CreditWatch positive after the placement on March 20, 2023, and subsequently withdrew the rating because the legal entity was dissolved following the merger. - We assess Credit Suisse's rated European and U.S. operating companies as highly strategic to UBS and therefore upgraded these entities to 'A/A-1' from 'A-/A-2'. - We affirmed the 'A-/A-2' issuer credit ratings on UBS Group AG and UBS Americas Holding LLC, UBS group's nonoperating holding companies. The outlooks remain negative. - We also affirmed our 'A+/A-1' long- and short-term issuer credit ratings on all of UBS's core existing operating entities, including UBS AG. The outlooks remain stable. FRANKFURT (S&P...

  
Report Type:

Ratings Action

Issuer
UBS Group AG
GICS
Diversified Capital Markets (40203030)
Sector
Global Issuers, Public Finance, Structured Finance
Country
Switzerland
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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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. "Various Rating Actions Taken On Credit Suisse And UBS Group Entities After Merger Completion" Jun 12, 2023. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Various-Rating-Actions-Taken-On-Credit-Suisse-And-UBS-Group-Entities-After-Merger-Completion-2999806>
  
APA:
S&P Global Ratings’ Credit Research. (). Various Rating Actions Taken On Credit Suisse And UBS Group Entities After Merger Completion Jun 12, 2023. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Various-Rating-Actions-Taken-On-Credit-Suisse-And-UBS-Group-Entities-After-Merger-Completion-2999806>
  
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