UniCredit CS – Ratings Affirmed with a Stable Outlook

Ref: CZ006 2 2 CRA00- 0 1 2 November 2023

UniCredit CS – Ratings Affirmed with a Stable Outlook

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the L ong-Term Foreign Currency Rating (L T FCR ) and S hort-Term Foreign Currency Rating (S T FCR ) of UniCredit Bank Czech Republic and Slovakia (UniCredit CS) at ‘BBB+’ and ‘A2’, respectively. At the same time, CI R atings has affirmed the UniCredit CS’ Bank Standalone Rating (B SR ) of ‘bbb+’ and C ore F inancial Strength (CF S ) rating of ‘bbb ’. The Outlook on the LT FCR and BSR remains Stable. The Extraordinary Support Level ( ESL ) has been changed to High from Moderate .

The affirmation of the ratings is supported by the Bank’s resilient operating and net profitability despite an operating environment pressuris ed by high inflation and notwithstanding the windfall tax on banks’…