Research Update: Bank Austria Creditanstalt AG Jul 03
Standard & Poors, July 2003
Abstract
On July 24, 2003, Standard & Poor's Ratings Services 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 Öffentliche 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, however. Both transactions have improved...
Companies mentioned in this report are:
- UniCredit Bank Austria AG
- Allianz SE
- Munich Reinsurance Co.
- Westfaelische Hypothekenbank AG
- Deutsche Pfandbriefbank AG
- UniCredit Bank AG
- Hypo Real Estate Bank International AG
- Hypo Pfandbrief Bank International S.A.
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- UniCredit Bank Austria AG
- Allianz SE
- Munich Reinsurance Co.
- Westfaelische Hypothekenbank AG
- Deutsche Pfandbriefbank AG
- UniCredit Bank AG
- Hypo Real Estate Bank International AG
- Hypo Pfandbrief Bank International S.A.
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