The rating agency Standard & Poor's ("S&P") has today upgraded UniCredit SpA's Issuer Credit Rating ("ICR") and Senior Preferred rating by one notch to 'A-' and assigned a Stable outlook.
This is the second upgrade by S&P this year and the rating has now been improved to one notch above the Italian sovereign.
In S&P's view, UniCredit has strengthened its business and financial profile and its buffer of bail-inable subordinated debt, leading to an 'A' "underlying" rating capped at 'A-', one notch above the sovereign. The bank benefits from a strong geographically diversified franchise, robust profitability, sound asset quality and ample liquidity.
The Stand-Alone Credit Profile has been upgraded to 'a-', while Long- and Short-Term Resolution Counterparty Ratings have been upgraded to 'A' and 'A-1', respectively.
The Short-Term Issuer Credit Rating has been affirmed at 'A-2'.
The full text of S&P's press release is available on the rating agency's website: https://www.spglobal.com/ratings/en/
Milan, 9 October 2025
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