We use cookies to improve your experience. By using BondbloX, you agree to our use of cookies.
Bond Market News
UBS Upgraded to A+ by Fitch
April 15, 2026
UBS Group was upgraded by a notch to A+ from A by Fitch. The primary driver is the significant reduction in execution risk tied to the Credit Suisse (CS) integration, particularly following the completion of CS’s Swiss business migration and steady progress in winding down non-core legacy exposures. Fitch expects these developments to translate into strong, sustainable profitability improvements from 2026 onwards. The upgrade reflects UBS’s strengthened business profile across several dimensions. Its asset quality remains strong, with impaired loan ratios expected to stay near 1%, underpinned by collateralised lending and conservative underwriting. Capital adequacy is solid, with a CET1 ratio of 14.4% in line with better-capitalised European peers, and the loans-to-deposits ratio has improved meaningfully to 81% from a post-acquisition peak of 96%. Key residual uncertainties include the ongoing revision of Switzerland’s too-big-to-fail regulatory framework and litigation stemming from the write-down of CS’s AT1 instruments. However, Fitch views these risks as manageable.
UBS’ bonds traded stable. It’s 6.6% Perp was trading at 99.6, yielding 6.6%.
Go back to Latest bond Market News
Related Posts:
Our Awards
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.