(Finance) – The rating agency Moody’s affirmed its Senior Preferred (unsecured) debt and long-term deposit ratings UniCredit at Baa1, with a stable outlook.
According to the agency, if the acquisition of the BPM desk were to be finalized, Unicredit’s creditworthiness would remain substantially stable.
The statement, we read in a note, also reflects the rating agency’s assessment according to which the acquisition of Banco Bpm would not prevent the potential acquisition of Commerzbank by Unicredit. Moody’s reiterates that, in the event of the acquisition of Commerzbank by Unicredit, it will take into consideration the possibility that the stand-alone rating of the Piazza Gae Aulenti group, currently equal to baa3, will be updated to baa2, one step above the sovereign rating of ‘Italy. This would also lead to a rating upgrade for senior non-preferred and junior debt.