UCG Moody's confirms UniCredit ratings following the offer on Commerzbank, reiterating potential for stand-alone rating upgrade

The rating agency Moody’s has confirmed UniCredit SpA’s Senior Preferred and Long-Term Deposit ratings at ‘A3’, two notches above Italy’s sovereign rating, with a Stable outlook.
Moody's reaffirms that, in the event of UniCredit acquiring Commerzbank, UniCredit's stand-alone rating (Baseline Credit Assessment) could be upgraded from current baa2 to baa1, one notch above Italy's sovereign rating. This would lead to higher ratings on senior non-preferred and more junior debt as well. For further details please refer to the corresponding press release on the website of the rating agency: www.moodys.com Milan, 19 March 2026 Contacts Media Relations: e-mail MediaRelations@unicredit.eu Investor Relations: e-mail InvestorRelations@unicredit.eu