Austria: Moody’s Downgrades Four Bonds

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In the light of the continuing discussion about a possible insolvency of Hypo Group Alpe Adria and a haircut for bondholders rating agency Moody’s has downgraded the rating for guaranteed bonds of four Austrian banks by two notches on Tuesday. The outlook is negative.

So far bonds guaranteed by the federal or regional governments had the same rating like the regional authority.…