London, 14 September 2016 -- Moody's Investors Service has removed the rating on the EUR300 million Floating Rate Covered Bonds (Obbligazioni Bancarie Garantite) due 24 June 2022 (ISIN IT0005202400) issued by Unione di Banche Italiane S.p.A.under the EUR5 billion Covered Bond (Obbligazioni Bancarie Garantite) programme, guaranteed by UBI Finance CB 2 S.r.l. Covered bonds issued under this programme are not rated by Moody's. Due to an internal administrative error, covered bonds with ISIN IT0005202400 were inadvertently linked to the Unione di Banche Italiane S.p.A.'s EUR15 billion Covered Bond (Obbligazioni Bancarie Garantite) programme, guaranteed by UBI Finance S.r.l., and assigned a rating on 23 June 2016.
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