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Bank Austria Creditanstalt AG Apr 07
Standard & Poors, April 2007
Abstract
Core member of the Unicredito group Leading institution and sound franchise in Austria Diversified network in Central and Eastern Europe (CEE) Steadily improving financial profile Highly competitive and saturated Austrian home market Unsatisfactory results from domestic retail and SME business Latent credit risk from domestic concentration risk and rapid credit growth in untested CEE markets Growing margin pressure in CEE countries 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...
Companies mentioned in this report are: UniCredit Bank Austria AG,UniCredit SpA,Vienna (City of) (Unsolicited Ratings),Zagrebacka banka dd,Bank Polska Kasa Opieki S.A.,UniCredit Bank AG,UniCredit Bulbank AD,UniCredit Leasing SpA,Unicredit Luxembourg S.A.,UniCredit Corporate Banking SpA
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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