The rating agency Moody's has taken a series of rating actions on UniCredit SpA.

Moody's has upgraded the assessment of UniCredit SpA's creditworthiness and overall Financial Profile above the level of the Italian sovereign rating (currently set at Baa3), while the bank's stand-alone Baseline Credit Assessment is capped at Italy's rating.

The bank's long-term deposit and senior preferred (unsecured) debt ratings were affirmed at Baa1. The outlook for deposits has improved to stable, while the outlook for senior preferred debt remains negative.

Moody's 'Loss Given Failure' analysis of liability buffers leads mechanically to the downgrade of UniCredit SpA's subordinated Tier 2 debt to Ba1 from Baa3.

For further details please refer to the corresponding press release on the website of the rating agency: www.moodys.com

Milan, 22 November 2023

Contacts

Media Relations: e-mail MediaRelations@unicredit.eu

Investor Relations: e-mail InvestorRelations@unicredit.eu

(C) 2023 Electronic News Publishing, source ENP Newswire