Treichl: „S&P Errs Sometimes“

People ♦ Published: January 25, 2012; 16:18 ♦ (Vindobona)

Erste Bank is ‘not guilty’ of Austria’s downgrade, CEO Andreas Treichl says.

Treichl: „S&P Errs Sometimes“ / Picture: ©

Standard & Poor’s decision to strip Austria of its AAA rating because of Erste Group Bank AG and other Austrian banks’ credit risk in eastern Europe was “absurd,” Erste’s Chief Executive Officer Andreas Treichl was quoted as saying today.

“Even Standard & Poor’s errs sometimes,” Treichl told Austrian weekly magazine News in an interview. “They have the…