DBRS Discontinues Short-term Debt ratings on UBI Banca International

DBRS Ratings Limited (DBRS) discontinued the R-1 (low) ratings on UBI International SA’s Guaranteed EURO Commercial Paper Programme and Guaranteed Negotiable European Commercial Paper Programme (or together the Programmes) following the redemption of all the outstanding instruments as well as the termination of the Programmes, in preparation of the sale by UBI Banca SpA of 100% of the share capital of UBI Banca International SA to EFG International AG completed on November 2, 2017.

Notes:
All figures are in Euros unless otherwise noted.

The principal applicable methodology is the Global Methodology for Rating Banks and Banking Organisations (May 2017). This can be found at: http://www.dbrs.com/about/methodologies

The sources of information used for this rating include company documents. DBRS considers the information available to it for the purposes of providing this rating to be of satisfactory quality.

DBRS does not audit the information it receives in connection with the rating process, and it does not and cannot independently verify that information in every instance.

Generally, the conditions that lead to the assignment of a Negative or Positive Trend are resolved within a twelve month period. DBRS’s outlooks and ratings are under regular surveillance.

For further information on DBRS historical default rates published by the European Securities and Markets Authority (“ESMA”) in a central repository, see:
http://cerep.esma.europa.eu/cerep-web/statistics/defaults.xhtml.

Ratings assigned by DBRS Ratings Limited are subject to EU and US regulations only.

Lead Analyst: Nicola De Caro, Vice President - Global FIG
Rating Committee Chair: Elisabeth Rudman, Managing Director, Head of EU FIG - Global FIG
Initial Rating Date: November 25, 2015
Most Recent Rating Update: January 20, 2017

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