The FINANCIAL -- The rating agency Standard&Poor’s  has aligned UniCredit SpA’s ratings with that of the sovereign as the ratings are “capped” according to Standard&Poor’s criteria.

According to UniCredit, the stand-alone creditworthiness of UniCredit SpA has been confirmed at “a-“, although the Italian banking system has been downgraded. Some capital instruments have been downgraded.

At the same time S&P confirmed UniCredit SpA’s core subsidiaries UniCredit Bank AG and Bank Austria AG at ‘A’ long- and ‘A1’ short-term with a negative outlook.

UniCredit Leasing SpA ‘s ratings have been lowered to ‘BBB+’ long-term and ‘A2’ short-term with a negative outlook.

Standard&Poor’s has taken various rating actions on other Italian banking groups as well.

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