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Downgrade for Austrian Banks
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…
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