Moody’s Investors Service lowered its investment grade ratings of Austria’s largest three banks, for the deteriorating operating environment in Central and Eastern European core markets, along with the enhancement in the risk brought in by the sovereign debt crisis.
Moody’s downgraded the senior bond and saving rating of Raiffeisen Bank International by one level to A2, UniCredit Austria by one level to A3, Erste Group Bank by two levels to A3. Rating outlook for Raiffeisen Bank International is stable, rating outlooks for UniCredit Austria and Erste Group Bank are negative.