FRANKFURT (dpa-AFX) - Moody's Investors Service announced that it has downgraded debt and deposit ratings of the three largest Austrian banking groups and taken various rating actions on Austrian banks.
The senior debt and deposit ratings of Raiffeisen Bank International (RAIFY.PK, RAIFF.PK) and UniCredit Bank Austria were downgraded by one notch, whilst those of Erste Group Bank AG (EBKDY.PK) were downgraded by two notches, the agency stated.
The agency said that Erste Group Bank carry negative outlook while UniCredit Bank Austria also with a negative outlook where as Raiffeisen Bank assigned a stable outlook.
Additionally, Moody's Investors Service has taken various rating actions on seven German banks and their subsidiaries, as well as one German subsidiary of a foreign group. As a result, the long-term debt and deposit ratings for six groups and one German subsidiary of a foreign group have declined by one notch, while the ratings for one group were confirmed.
Moody's also downgraded the long-term debt and deposit ratings for several subsidiaries of these groups, by up to three notches. Moody's said that further to these actions it had assigned stable outlooks to the ratings of most German banks.
Commerzbank deposit ratings were downgraded by one notch each to A3. The ongoing rating review for Deutsche Bank AG and its subsidiaries will be concluded together with the reviews for other global firms with large capital markets operations, the agency specified.
Copyright RTT News/dpa-AFX
© 2012 AFX News
