UniCredit CS – Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of UniCredit Bank Czech Republic and Slovakia (UniCredit CS) at ‘BBB+’ and ‘A2’, respectively. At the same time, CI Ratings has affirmed the UniCredit CS’ Bank Standalone Rating (BSR) of ‘bbb+’ and Core Financial Strength (CFS) rating of ‘bbb’. The Outlook on the LT FCR and BSR remains Stable. The Extraordinary Support Level (ESL) remains High.

The BSR of ‘bbb+’ is derived from a CFS rating of ‘bbb’ and an Operating Environment Risk Anchor (OPERA) of ‘a-’. The CFS reflects the Bank’s good financial and operational strength, supported by strong capital buffers, resilient asset quality, high liquidity underpinned by a stable retail and SME deposit base, and sound – though declining – profitability characterised by strong fee income and low cost of risk. The diverse…