UniCredit: Standard & Poor's affirms the long-term and short-term ratings (A/A1). Outlook remains stable
The rating agency Standard & Poor's has completed today a review of its ratings on Italian banks based on an update of its assumption on a potential future credit losses and a reappraisal of earnings for 2010 and 2011: following the rapid and intense economic downturn in 2008-2009, they expect that a period of very low economic growth will test Italian banking business profitability.
In a contest of review of the Italian banks' rating, UniCredit announces that Standard & Poor's affirmed the long-term and short-term ratings (A/A-1). Outlook is stable.
The full text of Standard & Poor's press release is available on the rating agency website.
Milan, 23 April, 2010
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