RZB-Rating on the upswing
27 Nov 2006
Standard & Poor’s (S&P), the provider of independent credit ratings, assigned its 'A+' long-term counterparty credit rating with a stable outlook to Raiffeisen Zentralbank Österreich AG (RZB). Due to the fact that the 'A+' is valued higher by the financial markets than the 'A1' long-term rating assigned to RZB by Moody's, this reflects an upward trend. At the same time, S&P affirmed their short-term 'A-1' rating for RZB.
"The ratings are also based on RZB's sound financial and risk profile," said Standard & Poor's credit analyst Volker von Kruechten. "RZB's asset quality and capitalization should remain at good levels, despite the expectation of further CEE-driven high business growth in coming years. Concerns about higher earnings volatility in the future due to RZB's increasing focus on countries with higher economic and industry risks – particularly in the Commonwealth of Independent States (CIS), and in Southeastern Europe (SEE) – are mitigated by the very good regional and business diversification."
"A+ is the best proof for our well balanced growth strategy in Austria and Central and Eastern Europe," said Walter Rothensteiner, CEO of RZB. "Moreover, S&P looks favourably on RZB’s domestic business, expecting us to maintain our stable performance and higher-than-average capital strength."
"S&P’s reviews are considered to be relatively conservative – in this light, the A+ underlines RZB’s credit quality to interested investors," added Patrick Butler, RZB Board Member responsible for Treasury, Investment Banking and Global Financial Institutions.
Standard & Poor’s is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research, data, and valuations.
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