S&P raised its rating on AO UniCredit Bank to ВВB-/A-3
On February 27, 2018, Standard & Poor’s Global Ratings (S&P) raised its credit rating on AO UniCredit Bank to ВВB-/A-3, Outlook Stable.
The upgrade follows S&P’s upgrade of Russia on February 23, 2018. The stable outlook on AO UniCredit Bank mirrors that on Russia and on its parent, UniCredit SpA. It reflects the agency’s view that the Bank will be able to maintain its creditworthiness over the next 18-24 months, keep its highly strategic status for the UniCredit Group, and receive support from the Group in case of need.
On Feb. 23, 2018, S&P Global Ratings raised its foreign currency long- and short-term sovereign credit ratings on Russia to ’BBB-/A-3′ from ’BB+/B’. S&P also raised its local currency sovereign credit ratings on Russia to ’BBB/A-2′ from ’BBB-/A-3′. The outlook is stable.
The full text of the press release is available at https://www.standardandpoors.com.