Moody´s Cuts Bank Austria´s Rating

Businessn.a. ♦ Published: July 16, 2013; 11:59 ♦ (Vindobona)

According to the U.S. rating agency, the creditworthiness of the biggest Austrian bank has worsened. The expansion program in Russia and Turkey is seen as significant risk factor.

Moody´s Cuts Bank Austria´s Rating / Picture: © Uni Credit Group Bank Austria

Analysts of Moody´s have cut Bank Austria´s rating from “A3” to “Baa1”. What is more, the outlook remains negative. This is the first downgrade since spring 2012. More than one year ago, Moody´s has cut Bank Austria´s rating by one notch.

Moody´s explains that Bank Austria´s holding company UniCredit has received a lower rating recently. According to the rating…

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