Prospectus - Notowania

6.12. Rating
The following table shows the UniCredit rating, as at the date of the Prospectus, assigned by
Fitch, Standard & Poor’s and Moody’s:
Fitch Standard & Poor's Moody’s
Short-term
payables
Medium/longterm
payables Short-term
payables
Medium/longterm
payables Short-term
Rating F1 A A-1 A
payables
P-1
Medium/longterm
payables
Aa3
Summary of the rating of the Issuer during 2009
Shown below is a summary of the main actions taken on the rating of the Issuer by the rating
agencies during 2009.
March 18, 2009: Standard & Poor’s modified UniCredit’s long-term rating by one notch from
“A+” to “A”, confirming the short-term rating at “A-1”. The outlook went from negative to
stable.
April 16, 2009: Fitch modified UniCredit’s long-term rating by one notch, bringing it from
“A+” to “A” and the individual rating from “B/C” to “C”. The short-term rating was confirmed
at “F1”. The outlook remained negative.
June 18, 2009: Moody’s, as part of a more extensive analysis at Italian banking system level,
confirmed UniCredit’s long-term and short-term ratings (Aa3/P-1). The outlook remained
stable. The Bank’s Financial Strength Rating (BFSR) was subject to observation for a possible
downgrading.
August 6, 2009: Moody’s modified the Bank’s Financial Strength Rating (BFSR) bringing the
negative outlook from C+ to C. The revision had no impact on the long-term and short-term
ratings (Aa3/P-1). The outlook remained stable.
October 1, 2009: Standard & Poor’s confirmed the long-term and short-term ratings (A/A-1).
The outlook remained stable.
December 22, 2009: Fitch confirmed the long-term and short-term ratings (A/F-1) and the
individual rating of “C”. The outlook remained negative.
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