Moody’s Investor Services has upgraded Raiffeisen Zentralbank’s long-term rating two notches to Aa2 from A1, and the outlook remains stable. The Financial Strength Rating (FSR) was C+ and is C now, while RZB’s short-term rating remains at P-1.
“Despite changes in its rating model, Moody’s confirmed RZB’s successful path,” said Walter Rothensteiner, CEO of RZB. “Our market position in Austria as well as in Central and Eastern Europe is quite strong. Sixty-four percent of the balance-sheet total was generated inside the European Union.”
Last year, Standard & Poor’s rated RZB A+. As S&P is following a more conservative rating approach its A+ was already noticed as an upgrade against Moody’s A1.
“We are delighted with the double-A assignment by Moody’s,” said Patrick Butler, RZB board member for Treasury and Investment Banking. “It reflects RZB’s rooting in a rock-solid and secure market environment. Thinking of RZB’s sound risk and earnings profile, I consider this step as long overdue. However, it underpins our claim to be a top-notch borrower, deservedly ranking among the top-100 institutions worldwide.”