Fitch Ratings: UniCredit’s Capacity to Support Daughter Enterprises Still Uncertain
Fitch Ratings carried out a number of rating researches involving the daughter companies of the Italian bank UniCredit S.p.A. (A/Rating Watch Negative/F2) based in Central and Eastern Europe. The research was done after the bank’s long-term Issuer Default Rating (A) was placed on the Rating Watch, with Negative rating outlook.
The rating agency reconsidered the rating outlook for the long-term Issuer Default Rating of UniCreditBank Russia (BBB+) from Positive to Stable. This change reflects the growing uncertainty as to the parent enterprise’s capacity to support its daughter banks in the future; this is why the parent company now has Negative outlook on the Rating Watch.
The rating agency reconsidered the rating outlook for the long-term Issuer Default Rating of UniCreditBank Russia (BBB+) from Positive to Stable. This change reflects the growing uncertainty as to the parent enterprise’s capacity to support its daughter banks in the future; this is why the parent company now has Negative outlook on the Rating Watch.
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