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Moody's revises outlook on Unipol Banca's ratings

Moody's on Dec. 21 changed the outlook on Italy-based Unipol Banca SpA's long-term bank deposits to positive from negative, while affirming the rating at Ba1.

The bank's short-term bank deposits were affirmed at NP. The rating agency placed the bank's senior unsecured regular bond rating to a developing outlook from a negative outlook and affirmed the rating at Ba3.

The rating agency also affirmed the bank's long- and short-term counterparty risk ratings at Ba1/NP and the long- and short-term counterparty risk assessments at Ba1(cr)/ NP(cr). Also affirmed were the bank's baseline credit assessment of "b2" and the adjusted baseline credit assessment of "b1."

The positive outlook reflects the bank's improving credit profile, while the developing outlook on the senior unsecured debt indicates the chances of higher loss-given failure along with a further improvement in the bank's credit profile.