UBI Banca International S.A. -- Moody's downgrades UBI Banca's deposit rating to Baa2 and senior debt rating to Baa3; outlook stable

Madrid, November 17, 2016 -- Moody's Investors Service has today downgraded the following ratings and assessments of Unione di Banche Italiane S.p.A. (UBI Banca): (1) the long-term deposit rating to Baa2 from Baa1; (2) the long-term senior debt rating to Baa3 from Baa2; (3) the subordinated debt rating to Ba3 from Ba2; (4) the baseline credit assessment (BCA) and adjusted BCA to ba2 from ba1; and (5) the long-term Counterparty Risk Assessment (CR Assessment) to Baa2(cr) from Baa1(cr). Furthermore, the rating of the backed Commercial Paper issued by UBI Banca International S.A. was downgraded to Prime-3 from Prime-2. The outlook on UBI Banca's long-term deposit and senior debt ratings is stable.

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