Article Tools

Kommunalkredit Austria AG / Kommunalkredit withdraws Moody's Ratingsfor unsecured funding instruments

Published: June 20, 2014; 18:56 · (Vindobona)

Kommunalkredit Austria AG (KA) decided today to withdraw all ratings for unsecured funding instruments (bank deposit, bank financial strength rating, senior unsecured, subordinate, other short term) by Moody's Investors Service (Moody's) with immediate effect, except for its current covered bond rating of Aa2.

Kommunalkredit Austria AG / Kommunalkredit withdraws Moody's Ratingsfor unsecured funding instruments / Picture: © Vindobona

The decision is due to differences in opinion between the bank and Moody's regarding the - according to Moody's - reduced support propensity by the Republic of Austria (Moody's rating Aa1) for KA, which is holding a 99.78% share
in KA.

Moody's argues that the draft legislation regarding Hypo Alpe Adria, which was
approved by the Council of Ministers on 11 June 2014,…

This article includes a total of 1253 words.

or Log In

Fast News Search
Read More