Kommunalkredit Downgraded by Moody´s

Professional ServicesBanks ♦ Published: February 2, 2012; 15:11 ♦ (Vindobona)

The U.S. rating agency downgraded Kommunalkredit Austria to Baa3.

Kommunalkredit Downgraded by Moody´s / Picture: © Moody's Investors Service, Inc. - Annual Report 2013

Moody's Investors Service has downgraded the standalone bank financial strength rating (BFSR) of Kommunalkredit Austria AG (KA) to E from E+, mapping to Caa1 on Moody's long-term scale (previously B2). Concurrently, KA's senior debt and deposit ratings were downgraded by two notches to Baa3 from Baa1. The outlook on these ratings is stable. In addition, the short-term rating was…