UNICREDIT: Fitch revised ratings like other major European banks - watch driven by sovereign review
The rating agency Fitch Ratings has today revised UniCredit SpA's long-term issuer default rating to "A-" from "A", the short term to "F2" from "F1" and the viability rating to 'a-' from 'a' as Fitch Ratings is completing the assessment of the large and relatively highly rated European banks.
The rating actions follow Fitch Ratings recent rating actions on various sovereigns. Italy's ('A+') rating has been put on rating watch negative. Therefore UniCredit's ratings together with several other banks domiciled in Italy have also been placed on rating watch negative.
The full text of Fitch's press release is available on the rating agency website www.fitchratings.com.
Milan, 20th December 2011