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UniCredit: Fitch Ratings changes the ratings of the Group

UniCredito Italiano announces that today the rating agency Fitch upgraded the individual rating assigned to UniCredito Italiano SpA to "B" (from "B/C") and to Bayerische Hypo-und Vereinsbank to "C" (from "C/D"). At the same time Fitch revised the Outlooks on both banks to "Positive" (from "Stable").

The agency also revised the Outlooks on Bank Austria Creditanstalt and Bank Pekao to "Positive" (from "Stable"). 

The rating actions reflect, as explained by Fitch, the progress made by UniCredit's management in integrating HVB Group and notably the capital ratio improvement and the credit risk reduction in HVB's German operations.


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Attached the complete text of Fitch Ratings' press release with details of today's rating actions on UniCredit and HVB Groups' companies.