Credit ratings

UBS's credit ratings from Standard & Poor's, Moody's and Fitch are set out in the table below, together with the most recent statement by the rating agency of the status or outlook. Each of these ratings reflects only the view of the applicable rating agency at the time the rating was issued, and any explanation of the significance of a rating may be obtained only from the rating agency. A security rating is not a recommendation to buy, sell or hold securities and each rating should be evaluated independently of any other rating. There is no assurance that any credit rating will remain in effect for any given period of time or that a rating will not be lowered, suspended or withdrawn entirely by the rating agency if, in the rating agency's judgment, circumstances so warrant.

UBS AG

Standard & Poor's

Rating

Last rating change

Status / outlook

Long-Term Counterparty    
Credit Rating  

A 29.11.11 Negative (29.4.14)

Short-Term Counterparty    
Credit Rating

A-1

19.12.08

Affirmed (29.4.14)
 

Stand-alone Credit Profile    

a-

29.4.14

Affirmed (29.4.14)

Moody's

Rating

Last rating change

Status / outlook

Long-term deposit rating                 

A2

21.6.12

Under review for possible upgrade (17.3.15)

Long-term senior debt rating

A2

21.06.12

Under review for possible downgrade (17.3.15)

Short-term deposit rating

P-1

29.06.98

Affirmed (17.3.15)

Short-term debt rating P-1 29.06.98 Under review for possible downgrade (17.3.15)
Baseline credit assessment Baa2 21.06.12 Affirmed (17.3.15)

Fitch

Rating

Last rating change

Status / outlook

Long-Term Issuer              
Default Rating

A

13.10.11

Stable (16.5.13)

Short-Term Issuer             
Default Rating

F1

13.10.11

Affirmed (16.5.13)

Viability Rating                 

a

17.4.13

Affirmed (16.5.13)

UBS Group AG

Standard & Poor's

Rating

Last rating change

Status / outlook

Long-Term Counterparty    
Credit Rating  

BBB+ 12.2.15 Stable (12.2.15)

Short-Term Counterparty    
Credit Rating

A-2

12.2.15

(12.2.15)

Fitch

Rating

Last rating change

Status / outlook

Long-Term Issuer              
Default Rating

A

12.2.15

Stable (12.2.15)

Short-Term Issuer             
Default Rating

F1

12.2.15

(12.2.15)