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Bayerische Hypo- und Vereinsbank AG, Bank Austria 'A-/A-2' Ratings Affirmed; Outlook Negative Jul 03
Standard & Poors, July 2003
Abstract
FRANKFURT (Standard & Poor's) July 24, 2003--Standard & Poor's Ratings Services said today it affirmed its 'A-' long-term and 'A-2' short-term counterparty credit and certificate of deposit ratings on Bayerische Hypo- und Vereinsbank AG (HVB) and Bank Austria Creditanstalt AG (BA). The outlook is negative. In addition, the 'AAA' ratings on -ffentliche Pfandbriefe issued by HVB and the 'AA+' ratings on BA's guaranteed obligations were affirmed. The affirmation follows Standard & Poor's regular review of HVB and reflects the progress of the bank's restructuring process since November 2002. 'Following the IPO of BA and the sale of norisbank (not rated), HVB has successfully completed two important steps in this process, which had already been anticipated in Standard & Poor's ratings,...
Companies mentioned in this report are: UniCredit Bank AG,UniCredit Bank Austria AG
Action: Affirmed
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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