The rating agency Moody's has upgraded UniCredit SpA's long-term deposit and senior debt ratings to 'Baa1'(from 'Baa2') and affirmed the short-term 'Prime-2' ratings at the same time. This reflects the implementation of Moody's revised bank rating methodology and reduced likelihood of government support assumptions. The ratings carry a stable outlook and are one notch higher than Italy's 'Baa2'.
Subordinated debt has been upgraded to 'Ba1' (from 'Ba2').
Other entities of the UniCredit Group have also been impacted. UniCredit Leasing SpA's issuer ratings have been revised to 'Ba1/Not-Prime' with stable outlook (from 'Baa3/Prime-3') due to the elimination of government support.
Please see the full text of Moody's press release on the rating agency website www.moodys.com for more details.
Milan, 22nd June 2015