Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for Hypo Vorarlberg Bank AG > News item |
Moody’s ups Hypo Vorarlberg, debt to A3
Moody's Investors Service said it upgraded Hypo Vorarlberg Bank AG's long-term senior unsecured debt, issuer and deposit ratings by one notch to A3 from Baa1, and maintained the stable outlook.
The agency also upgraded Hypo Vorarlberg's subordinate medium-term note program rating to provisional Baa3 from provisional Ba1 and affirmed its short-term issuer and deposit ratings at P-2.
Concurrently, Moody's upgraded the bank's baseline credit assessment and adjusted BCA to baa2 from baa3 and its counterparty risk assessments to A2(cr)/P-1(cr) from A3(cr)/P-2(cr).
“The rating upgrade reflects the strengthening of the bank's financial fundamentals following the capital measures agreed upon and partly executed at the end of 2017 which will strengthen the bank's ability to establish its risk-weighted core capital ratios sustainably above 13% going forward,” Moody’s said in a news release.
“The upgrade also incorporates the reduced exposure to tail risks, following the maturity of the largest part of the deficiency-guaranteed liabilities issued by Austria's Landeshypothekenbanks, including its joint issuance vehicle Pfandbriefbank (Oesterreich) AG (Pfandbriefbank).”
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.