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Unipol Banca ratings downgraded following reorganisation - Moody's


Published : Mon, 03 Sep 2007 17:06
By : Agencies
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MUMBAI (Thomson Financial) - Moody's said it has downgraded the long-term deposit rating of Unipol Banca to 'Baa2' from 'Baa1', following the reorganisation of the Unipol group, under which Unipol Banca is now directly held by a holding company - Unipol Gruppo Finanziario (UGF).

The outlook for the Baa2 long-term deposit rating is positive, while the outlook for the remaining ratings

is stable.

The bank's 'Prime-2' short-term deposit rating and 'D+' financial strength rating are unaffected by this rating action.

TFN.newsdesk@thomson.com

vsh/ran

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