The rating agency Standard & Poor's ("S&P") has today upgraded UniCredit SpA stand-alone credit profile ("SACP") from 'bbb' to 'bbb+', one notch above the Italian sovereign rating.
UniCredit SpA issuer credit rating ("ICR") remains capped by the rating of Italy at 'BBB' and the ratings on the bank's instruments do not change. The outlook remains stable.
At the same time, S&P has improved the economic risk assessment for the banking sector in Italy.
The full text of S&P press release is available on the rating agency's website: https://www.spglobal.com/ratings/en/
Milan, 25 October 2023
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