Summary: Bank Austria Creditanstalt AG Apr 07
- ID: 1830989
- April 2007
- Region: Austria
- Standard & Poors
The counterparty credit ratings on Bank Austria Creditanstalt AG (BA) reflect its group status as a core subsidiary of its 96.35% owner UniCredito Italiano SpA (A+/Stable/A-1) due to the strategically important role it plays to further develop business in the fast-growing CEE region and to a lesser degree its role in Austria. Furthermore, since its acquisition in 2000 by BA's former owner Bayerische Hypo- und Vereinsbank AG (HVB; A/Positive/A-1), BA's business, financial, and risk profile has improved substantially, mainly as a result of domestic restructuring measures and profitable growth in CEE. In 2006, BA's operating profitability remained satisfactory, although the forced sale of subsidiaries in Poland and Croatia during 2006 hampers comparisons with the prior year. Furthermore, the transfer of...
Companies mentioned in this report are:
- UniCredit Bank Austria AG
- UniCredit SpA
- Vienna (City of)
- UniCredit Bank AG
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