Unione di Banche Italiane S.p.A. Covered Bonds (OBG - Mortgages - Programme 1): Surveillance Report

On 18 September 2020, DBRS Morningstar confirmed its AA ratings on the Obbligazioni Bancarie Garantite (OBG; the Italian legislative covered bonds) issued under the Unione di Banche Italiane S.p.A. Covered Bonds Programme 1 (UBI OBG1 or the Programme). This rating action followed the completion of a full review of the Programme.