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Bank Austria Creditanstalt AG Mar 05
Standard & Poors, March 2005
Abstract
Leading institution and sound franchise in Austria; Diversified network in Central and Eastern Europe (CEE); and Steadily improving financial profile. Highly competitive and saturated Austrian home market; Asset quality vulnerable to domestic concentration risk and rapid credit growth in untested CEE markets; Growing margin pressure in CEE countries; and Parent company's weakness might constrain BA's growth plans. The counterparty credit ratings on Bank Austria Creditanstalt AG (BA) as well as the issue ratings on new unguaranteed obligations incurred since Jan. 1, 2002, reflect those on its parent company, Bayerische Hypo- und Vereinsbank AG (HVB; A-/Negative/A-2), considering strong ownership ties between the two banks and BA's core importance to HVB's strategy and recovery process. Furthermore, BA's business and risk profile has...
Companies mentioned in this report are: UniCredit Bank Austria AG,Hypovereins Finance N.V.,UniCredit Bank AG
Action: Review
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: Full Analysis
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