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UniCredit: S&P's affirmed UniCredit SpA's ratings

The Rating Agency Standard & Poor's ("S&P's") has today affirmed UniCredit SpA's 'BBB-' long- and 'A-3' short-term Issuer Credit Ratings with stable outlook.

This is based on S&P's government support and additional loss-absorbing capacity ("ALAC") review due to the expected full implementation of the EU Bank Recovery and Resolution Directive ("BRRD") from 1stJanuary 2016.


The full text of S&P's' press releases is available on the rating agency website


Milan, 2nd December 2015


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