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Bank Industry Risk Analysis: Austria (Republic of) Mar 03
Standard & Poors, March 2003
Abstract
In Standard & Poor's view, the Austrian banking system--despite its structural weaknesses--is strong enough to withstand the economic downturn, which has reduced economic growth rates to low levels since 2001. The Austrian economy, which ranks among the most prosperous in the world, has been one of the least volatile among rated sovereigns. Although Austria is closely tied to the Eurozone and particularly to its largest trading partner, Germany, GDP growth has repeatedly outpaced that of Germany since 1992 and unemployment rates have remained well below the EU average. Due to its geographic proximity and historically strong ties Austria is expected to be among the main beneficiaries of the EU enlargement. Due to the global economic downturn, economic growth has declined...
Companies mentioned in this report are: Austria (Republic of),Oesterreichische Kontrollbank AG,UniCredit Bank Austria AG,Raiffeisen Zentralbank Oesterreich AG,DZ BANK AG Deutsche Zentral-Genossenschaftsbank ,Erste Group Bank AG,UniCredit Bank AG,HYPO NOE Gruppe Bank AG,HYPO TIROL BANK AG,Vorarlberger Landes-und Hypothekenbank AG,Oberoesterreichische Landesbank AG,Landes-Hypothekenbank Steiermark AG
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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