Dear customers and business partners,
Fitch Ratings confirmed the long-term IDR (Issuer Default Rating) of VBAG Group and of Volksbank Verbund (Association of Volksbanks: regional Volksbanks and VBAG Group) at "A" with stable outlook.
The confirmation of the ratings reflect VBAG´s new strategy which is based on focussing on core business areas, the systemic importance of the Volksbank Verbund and the cooperation and solidarity within the Volkbank sector.
The rating actions are as follows:
Oesterreichische Volksbanken-Aktiengesellschaft
Long-term IDR: affirmed at 'A'; Outlook Stable
Short-term IDR: affirmed at 'F1'
Support Rating: affirmed at '1'
Support Rating Floor: affirmed at 'A'
Senior unsecured notes: affirmed at ‘A’
Government guaranteed notes: affirmed at ‘AAA’
Volksbanken Verbund
Long-term IDR: affirmed at 'A'; Outlook Stable
Short-term IDR: affirmed at 'F1'
Individual Rating: affirmed at ‘C/D’; removed from RWN (rating watch negative)
Support Rating: affirmed at '1'
Support Rating Floor: affirmed at 'A'
The press release published by Fitch Rating is attached below.
Please do not hesitate to contact us if you require any further information,
best regards,
the Institutional Investor Relations Team