Business - n.a.

Downgrade for Austrian Banks

Published: June 6, 2012; 12:40 · (Vindobona)

The U.S. rating agency Moody´s downgrades Erste Group, Raiffeisen Bank International and Bank Austria.

Downgrade for Austrian Banks / Picture: © Vindobona.org

Moody´s made a re-evaluation of Austrian banks. Due to their „low equity quotas“ and the business in Eastern Europe, Moody´s downgrades the three biggest Austrian lenders Erste Group, RBI and UniCredit´s subsidiary Bank Austria. Erste Group fell by two notches, RBI and Bank Austria were downgraded by one notch.

The downgrade of the creditworthiness would reflect the…

This article includes a total of 442 words.

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Downgrade for Austrian Banks

The U.S. rating agency Moody´s downgrades Erste Group, Raiffeisen Bank International and Bank Austria.

Join us to succeed in Vienna!
Sign up to read articles for free and to get personalized updates on the events that interest you.