S&P acts on Austrian banks

S&P said it raised its long-term issuer credit ratings on UniCredit Bank Austria AG to BBB+ from BBB, on Hypo Vorarlberg Bank AG to A+ from A and on Hypo Tirol Bank AG to A- from BBB+.

The outlook on UniCredit Bank Austria is negative, and the outlooks on Hypo Vorarlberg and Hypo Tirol are stable.

Additionally, the agency revised its outlook on Hypo Noe Landesbank Fur Niederoesterreich Und Wien AG to positive from stable and affirmed the A/A-1 long- and short-term issuer credit ratings on the bank.

S&P affirmed the A+/A-1 long- and short-term issuer credit ratings on Oberoesterreichische Landesbank AG. The outlook remains negative.

“These actions follow our review of the Austrian banking sector and reflect our view that its stability has improved, primarily due capital strengthening, supported by the derisking of larger banks in Central and Eastern Europe,” the agency said in a news release.

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