Fitch Upgrades Individual Ratings of Austrian Banks

Professional Services › Banks ♦ Published: May 25, 2011; 16:31 ♦ (Vindobona)

The “A” rating of the big Austrian banks has been confirmed. The individual rating of Erste, RBI and Bank Austria was upgraded.

Fitch Upgrades Individual Ratings of Austrian Banks / Picture: © Vindobona.org

Fitch Ratings has affirmed Erste Group’s, Raiffeisen Bank International's, UniCredit Bank Austria's and Volksbanken Group’s long-term issuer default ratings (IDR) at 'A' with stable outlooks. At the same time, Fitch has upgraded Erste's individual rating - or where it stands without any outside support - to 'B/C' from 'C' and RBI's and Bank Austria's individual ratings to 'C' from…

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