Stepic Criticizes Rating Agencies Sharply

People ♦ Published: February 20, 2012; 14:29 ♦ (Vindobona)

For Herbert Stepic, CEO of Raiffeisen Bank International (RBI), statements given by the U.S. rating agencies are “undifferentiated”.

Stepic Criticizes Rating Agencies Sharply / Picture: © Flickr / St. Petersburg International Economic Forum

The riskiness of operations in Eastern Europe is described imperfectly by Moody´s and Standard & Poor´s, says Stepic in an interview with the Austrian newspaper “Der Standard”.

Apart from Belarus and Hungary, CEE countries are performing well, Stepic says. As a result, the risks in Eastern Europe for Austrian banks are limited. “For me it is incomprehensible why the…