OVAG Bank Sells Loss-Making Romanian Unit

Partly-state owned bank OVAG sold its loss-making Romanian unit to Romania's Banca Transilvania with the deal closed on Tuesday.

April 7, 2015

Carinthia Could Avoid Heta Guarantee Payment After Haircut - Moody's

Austria's region Carinthia may not have to make the payment linked to guarantees it extended for EUR 10.2 billion (USD 10.75 billion) of Hypo bad bank Heta following the haircut for creditors, in the opinion of rating agency Moody's banking expert Carola Schuler.

March 16, 2015

Volksbanks - Reconfiguration for Dismantling of ÖVAG

Radical Volksbank mergers and the new organization of the association can’t wait any longer. The financial supervision has recently increased pressure and summoned more than a dozen "renegades”, or bank heads, who haven’t made any binding promises. On Friday the message that everybody has to participate came out. All decisions will be there at the end of March.

March 13, 2015

Valneva Biotech Target Price Cut to EUR 4.9, 'Hold' Maintained

Listed vaccine producer Valneva, formerly Intercell, had its target price reduced slightly to EUR 4.9 (USD 5.3) from EUR 5.1 with the recommendation kept at 'hold' at Erste Group.

March 9, 2015

Moody's Reduces Rating for Carinthia by 4 Grades

Rating agency Moody's has reduced its rating for Carinthia by four grades from A2 to Baa3 and changed stable outlook to negative. Baa3 is the last not "speculative” grade.

March 9, 2015

Fitch Confirms Rating for Billion-Euro-Bond

Rating agency Fitch issued a statement concerning the debt repayment stop for state-owned Hypo Alpe Adria bank successor Heta, after Standard & Poor’s did so on Tuesday saying that a discussion concerning the potential haircut for Heta bonds would not affect the rating of Austria directly. Fitch confirmed on Wednesday its rating for Heta bonds with a state guarantee.

March 4, 2015

Finance Ministry: "Fitch Downgrade has no Impact on Austria Rating"

In response to the rating announcement by rating agency Fitch, the Austrian Federal Ministry of Finance says, that the current Fitch rating has no impact on the Austria rating due to temporary debt increase.

February 20, 2015

Moody's Cuts RBI Bank Ratings

Listed bank RBI had its long-term debt rating cut to Baa2 from Baa1 and the BFSR rating to D from D with outlook negative, ratings agency Moody's said.

February 19, 2015

Baumax: KSV Credit Rating Unchanged since September

In spite of the sale of its Bulgarian unit and the announced exit from Hungary Baumax’ KSV rating has hardly changed since September 2014.

February 18, 2015

Moody's to Complete Kommunalkredit Rating Review in Three Months

Nationalized bank Kommunalkredit, in the process of the sale of part of the assets, will wait another three months for a potential rating review from ratings agency Moody's as the latter needs more time to complete the analyses.

February 16, 2015