S&P downgrades UBS to AA+
Standard & Poor’s has lowered its long-term counterparty credit rating on UBS from AAA to AA+ in response to the bank’s announcement of a pre-tax loss of between CHF600 million and CHF800 million for the third quarter.
“The downgrade primarily reflects concerns over the effectiveness of the bank’s risk management practices,” says Richard Barnes, a credit analyst based in London.
At the same time, the rating agency affirmed the bank’s A-1+ short-term rating, and the outlook for the group reverts
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net