Moody´s Downgrades Austrian VBAG

Businessn.a. ♦ Published: November 3, 2012; 19:28 ♦ (Vindobona)

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…