The Rating Agency Moody's has aligned UniCredit SpA's ratings with that of the sovereign (Itay is rated "A2/P-1" negative). The long-term debt and deposit ratings have been downgraded to "A2" negative and its standalone rating ("Bank Financial Strength Rating" or "BFSR") to "C-" stable. The bank's "Prime-1" short-term rating has been affirmed at the same time.
Moody's downgraded several Italian banks driven by the downgrade of Italy and its changed systemic support rating assumptions.
The full text of Moody's press release is available on the rating agency website www.moodys.com.
Milan, october 6 2011
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