The Rating Agency Fitch has today upgraded UniCredit SpA's individual rating to B/C from C and revised the outlook on the A long-term issuer default rating to stable from negative.
This led also to an upgrade of selective hybrid capital instruments to BBB+ from BBB.
Fitch's positive rating action is particularly based on:
- "UniCredit's prospective performance"
- "Asset quality trends"
- "Strengthened core capital base"
"We are pleased to see that Fitch acknowledges the work we have done and the improvements we achieved" comments Marina Natale UniCredit's CFO.
The full text of Fitch's press release is available on the rating agency website www.fitchratings.com.
Milan, 03rd February 2011
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