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Bulletin: Austria's Raiffeisen Bank International AG 'A/A-1' Ratings Unchanged Following Announced Acquisition Of Polbank Feb 11
Standard & Poors, Feb 2011
Abstract
FRANKFURT (Standard & Poor's) Feb. 7, 2011--Standard & Poor's Ratings Services said today that the ratings on Raiffeisen Bank International AG (RBI; A/Negative/A-1) and Raiffeisen Zentralbank Oesterreich AG (RZB; A/Negative/A-1) are unaffected by the announced acquisition of Poland-based Polbank EFG (not rated). We consider the acquisition to be in line with Raiffeisen Banking Group's (RBG; not rated) strategy to solidify its presence in Central and Eastern Europe. Although we believe a strengthened market position in Poland is a positive development, we are concerned that the acquisition will reverse the moderate improvement in RBG's and RZB's capitalization, which occurred in 2010 as a result of retained earnings. In our view, the group's capital remains a weakness and we could lower the...
Companies mentioned in this report are: Raiffeisen Bank International AG,Raiffeisen Zentralbank Oesterreich AG
Action: Bulletin
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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