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Austria: Rating Endangered
Politics ♦
Published: February 20, 2014; 19:37 ♦ (Vindobona)
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US-based rating agency Fitch will update its country rating for Austria tomorrow. Finance Minister Spindelegger is in favor of a haircut for investors of Hypo Group Alpe Adria.
Austria: Rating Endangered / Picture: © Fitch
The rating report is keenly awaited because of the financial gap running in the billions caused by ailing Hypo Group Alpe Adria. According to news agency Bloomber, Fitch considers to lower the outlook for the Austrian credibility to “negative”.
The reason for the step is the burdens resulting from the downsizing of Hypo Group which in all likelihood will increase state debts,…
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