London, March 21,2023: Rating agency Moody's has cut the outlook on UBS Group's debt to negative following its takeover of Credit Suisse, Moody's has affirmed UBS's current credit ratings, but lowered the outlooks on its long term deposit and senior unsecured ratings to negative from stable, The Guardian reported. A negative outlook is an indication that a rating may be lowered in future. The rating agency says it took this decision following UBS's deal to buy Credit Suisse for 3bn Swiss francs. "The action balances, on the one hand, the advantageous financial terms in terms of liquidity and capital together with the long-term potential for franchise enhancement, and on the other hand the complexity, extent and duration of the integration," the agency said. Moody's points out that UBS faces "significant financial, cultural and franchise related" challenges as it tries to integrate Credit Suisse into its business.