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Bank Austria Counterparty Credit Rtgs Lowered; Grandfathered Debt Affmd; Outlook Neg Jan 02
Standard & Poors, Jan 2002
Abstract
FRANKFURT (Standard & Poor's) Jan. 2, 2002--Standard & Poor's today lowered its long-term counterparty credit and certificate of deposit ratings on Bank Austria AG (BA) to single-'A'-plus from double-'A'-plus and its short-term counterparty credit and certificate of deposit ratings to 'A-1' from 'A-1'-plus. The outlook is negative. At the same time, Standard & Poor's affirmed its double-'A'-plus long-term and its 'A-1'-plus short-term issue ratings on BA's outstanding obligations as of Dec. 31, 2001. At the same time, a negative outlook on the outstanding debt is assigned. (See list below for all ratings affected.) The rating affirmation on BA's outstanding obligations at Dec. 31, 2001, reflects the fact that these obligations will continue to benefit from the deficiency guarantee provided by...
Companies mentioned in this report are: UniCredit Bank Austria AG,UniCredit Bank AG
Action: Downgraded
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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