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DBRS: UBS AG unchanged
DBRS said UBS AG's senior long-term debt rating of A (high) is unchanged, following the release of the Group's 3Q10 earnings.
The outlook remains stable.
DBRS said UBS's 3Q10 results reflect the sharp reduction of client activity in the quarter, as well as the challenges the company faces as it works on rebuilding its businesses. The rating reflects a stronger quarter for credit trading and emerging markets, both of which benefited from increased client activity.
The company's liquidity and capital also remain sound, DBRS said. UBS's well-positioned domestic banking franchise provides ample deposits to fund its lending and the company has access to well-diversified market funding for its other businesses, DBRS added.
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