Outlooks On Austria-Based Erste Group Bank And Subsidiary Ceska Sporitelna Revised To Stable; Affirmed At 'A/A-1' Nov 10

Standard & Poors, November 2010

Abstract
We now expect Erste Group Bank and core subsidiary Ceska Sporitelna to demonstrate better operating performance than we had previously expected. The banks' asset-quality concerns stemming from their higher-risk exposures to Central and Eastern Europe have reduced. We are revising our outlooks on Erste and Ceska Sporitelna to stable from negative, and affirming the 'A' long-term and 'A-1' short-term ratings on both banks. We continue to grant a one-notch uplift to Erste's stand-alone credit profile, reflecting our expectation of implicit government support due to Erste's high systemic importance for Austria. FRANKFURT (Standard & Poor's) Nov. 24, 2010--Standard & Poor's Ratings Services said today that it had revised the outlooks on Austria-based Erste Group Bank AG (Erste) and its core subsidiary,...

Companies mentioned in this report are:
- Erste Group Bank AG
- Ceska Sporitelna A.S.
- Erste Finance (Delaware) LLC

Action: Affirmed
Action: Outlook: Stable

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.

- Erste Group Bank AG
- Ceska Sporitelna A.S.
- Erste Finance (Delaware) LLC

Customers who bought this item also bought

• The Czech Defense Industry - Competitive Landscape and Strategic Insights to 2017: Market Profile
• The Czech Defense Industry: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016
• The Czech Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017
• The Czech Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017
• The Austrian Defense Industry - Procurement Market Dynamics to 2017: Market Profile
• The Austrian Defense Industry - Market Entry Strategy to 2017: Market Profile
• The Czech Defense Industry to 2015 - Competitive Landscape and Strategic Insights
• Defense Expenditure in Austria to 2015 - Market Sizing and Forecasts: Market Profile
• The Czech Republic Defense Industry - Competitive Landscape and Strategic Insights to 2016: Market Profile
• Homeland Security Expenditure in Austria to 2017: Market Review