DBRS lifts Kommunalkredit view to stable

DBRS said it confirmed the ratings of Kommunalkredit Austria AG, including its long-term issuer rating at BBB (low) and short-term issuer rating at R-2 (middle).

The trend was revised to stable from negative.

The intrinsic assessment for the bank is BBB (low) and its support assessment remains at SA3.

The change in the trend reflects the progress that the bank has made in developing its franchise in infrastructure lending, improved core profitability, ongoing very strong asset quality of both the legacy portfolio and the newly originated portfolio, DBRS said.

The bank continues to have no non-performing loans, reflecting the high quality of the public sector portfolio, although the agency said it will continue to monitor asset quality closely given the lumpy nature of the infrastructure lending.

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