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Moody´s Downgrades Bank Austria

Published: March 22, 2014; 08:58 · (Vindobona)

The U.S. rating agency Moody´s takes a closer look at European banks. Due to the worsening asset quality of Bank Austria´s parent company UniCredit, Bank Austria´s rating was cut to “Baa2”.

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

Last week, UniCredit´s rating was lowered to “Baa3” from “Ba1”. As a result, Moody´s also re-assessed UniCredit´s sub-holding Bank Austria. In the late evening, Moody´s has cut Bank Austria´s rating to “Baa2” from “Baa1”. The outlook remains stable.

Despite the growing pressure on UniCredit, Bank Austria would receive support from its parent company in case…

This article includes a total of 88 words.

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