Fitch rates UniCredit notes BBB

Fitch Ratings said it assigned UniCredit SpA's (BBB/stable) €1.5 billion senior non-preferred notes issued under the bank's €60 billion euro medium-term note program a BBB long-term rating.

The introduction of this new debt class does not affect the BBB long-term rating of UniCredit's senior debt, which following legislative changes in Italy will become senior preferred obligations of the bank.

The senior non-preferred notes are rated in line with UniCredit's long-term issuer default rating and existing senior debt rating. Fitch said it views the probability of default on the senior non-preferred notes as the same as the probability of default of the bank.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.