Zürcher Kantonalbank (ZKB) has confirmed its BBB+ credit rating for UBS Group, slightly lower than international agencies, due to concerns over capital distribution and integration risks following the Credit Suisse takeover. Analyst Akkio Mettler highlights uncertainties surrounding future capital requirements, particularly for UBS Americas Holding, despite UBS’s strong quarterly performance and progress in integration. ZKB’s cautious stance reflects its closer proximity to expected regulatory adjustments compared to global rating agencies.
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