S&P Downgrades Austrian Provinces

People ♦ Published: January 26, 2012; 17:54 ♦ (Vindobona)

The U.S. rating agencies lowers ratings for Upper Austria, Vienna and Tyrol from “AAA” to “AA+”.

S&P Downgrades Austrian Provinces / Picture: © Wikipedia / Dein Freund der Baum

After the Austrian Republic had lost its triple-A rating two weeks ago, now the remaining three “AAA”-provinces Upper Austria, Vienna and Tyrol were downgraded to “AA+”. Moreover, the outlook for Burgenland, Lower Austria and Styria was put on “credit watch negative”. These three provinces also have a “AA+” rating.

“The downgrades reflect our methodology, which…