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Rating Action: Moody's changes outlooks to stable from negative on five Austrian banking groups following sovereign and sub-sovereigns actions; affirms ratings
Global Credit Research - 06 Mar 2014
-- HYPO ALPE ADRIA BANK INTERNATIONAL AG
Moody's changed to stable from negative the outlook on the Aaa rating for Hypo Alpe Adria Bank International's guaranteed subordinated notes, which benefit from a guarantee from the Republic of Austria. Concurrently, Moody's has affirmed the Aaa rating. The Aaa rating is based on the unconditional and irrevocable nature of the guarantee and on Moody's assessment that the terms and conditions of the guarantee provide for full and timely payment of the underlying obligations.