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Moody´s Downgrades Austrian VBAG
The U.S. rating agency underlines that the Austrian state will help the financially stricken bank further.
Moody´s Downgrades Austrian VBAG / Picture: © Wikipedia / MrPanyGoff
The rating moved from “Baa3/Prime-3” to “Baa2/Prime-2”. The outlook remains stable. Although Moody´s downgrades VBAG´s rating, the rating agency is optimistic that the Austrian government will offer further help for VBAG. Until 2014, the partly nationalized bank will need further aids, Moody´s says. “If the asset quality deteriorates further, we think that it is likely that…
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