Fitch: UniCredit Bank Austria to negative

Fitch Ratings said it revised UniCredit Bank Austria's (Bank Austria) outlook to negative from stable and affirmed its long-term issuer default rating at BBB+.

The action follows the revision of the outlook on the long-term issuer default rating of Bank Austria's parent, UniCredit SpA (BBB+/negative/bbb+), to negative from stable on March 24.

The revision of Bank Austria's outlook to negative reflects the potential negative implications of a deterioration of UniCredit’s financial strength for Bank Austria's capitalization and financial flexibility.

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