DBRS Downgrades UBI’s ratings; Trend Now Stable
DBRS Ratings Limited (DBRS) downgraded the ratings of Unione di Banche Italiane SpA (UBI or the Bank), including the Long-Term Issuer Rating to BBB from BBB (high) and the Short-Term Issuer Rating to R-2 (high) from R-1 (low). The trend on the ratings is now Stable. Concurrently, DBRS lowered the Bank’s Intrinsic Assessment (IA) to BBB while the Support Assessment remains unchanged at SA3. This rating action follows DBRS’s annual review of the Bank’s credit profile. A full list of ratings actions is included at the end of this press release.
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