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Moody's ratings constrained by the recently downgraded sovereign although the stand-alone rating has been affirmed

 

The rating agency Moody's has affirmed UniCredit SpA's 'C-' stand-alone rating ("Bank Financial Strength Rating" or "BFSR") still mapping to 'baa2'. Following the Italian sovereign downgrade to 'Baa2' (from 'A3') on Friday the 13th of July the stand-alone rating and long-term deposit and debt ratings are constrained at the same level 'Baa2' with negative outlook (from 'A3'). The short-term rating has been confirmed at 'Prime-2'. 

 

At the same time Moody's downgraded its long and short term rating on UniCredit Leasing to "Baa3/Prime-3" from "Baa2/Prime-2", keeping the negative outlook.

 

The full text of Moody's press release is available on the rating agency website www.moodys.com.

 

 

 

Milan, 17 July, 2012