S&P raises outlook for UBS Group to “stable”
Published: Tuesday, Jun 4th 2024, 22:10
Updated At: Wednesday, Jun 5th 2024, 01:59
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The rating agency S&P Global has raised the outlook for UBS Group from "negative" to "stable". The merger of the UBS AG and Credit Suisse AG units is an "important milestone" in the integration of the former competitor, S&P announced.
The residual risks from the integration and restructuring of Credit Suisse had decreased overall, the statement continued on Tuesday. And the figures for the first quarter of 2024 show that UBS's business is stabilizing and profitability has improved.
The ratings of UBS Group AG and UBS Americas Holding LLC remain unchanged at "A-/A-2". The issuer rating was confirmed at "A-/A-2".
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