MUMBAI (Thomson Financial) - Fitch Ratings said it affirmed Bank Austria Creditanstalt AG's long-term issuer default rating at 'A' and short-term IDR at 'F1'.
The outlook for the long-term IDR remains positive, to reflecting the outlook of its parent, UniCredito Italiano, Fitch said.
Bank Austria's individual rating has been affirmed at 'B/C', its support rating at '1', and the support rating floor at 'A-', Fitch stated.
The bank's issuer default and support ratings reflect the extremely high potential support available from its 96.3 pct direct-owner, UCI, when in need, while the individual rating reflects the bank's strong Austrian franchise, improving profitability and good capitalisation, Fitch added. TFN.newsdesk@thomson.com ssh/ssa COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.