Zurich / Basel, November 24, 2009, 05:30 PM
S&P report not reflective of UBS's capital position: Pro forma risk-adjusted capital ratio at 7.1% (when taking into account mandatory convertible notes)
The report issued by Standard & Poor's (S&P) is not representative of UBS's capital position in relation to its peers.
The bank's risk-adjusted capital ratio (RAC) is estimated to be 7.1%, and not the 2.2% reported by S&P. Their report shows a RAC as of 30 June 2009 which does not take into account two important components of UBS's capital: