VIENNA, April 21, 2017 – Yesterday evening, Moody’s Investors Service announced several upgrades of BAWAG P.S.K.’s ratings. The long-term senior unsecured debt, issuer and deposit ratings were all raised by one notch to A2 while the positive outlook on these ratings was maintained. At the same time, the Bank’s standalone rating (baseline credit assessment) as well as its subordinate debt rating were also upgraded by one notch to baa1 and Baa2, respectively.
The current rating upgrades make BAWAG P.S.K. the best-rated Austrian bank and reflect the continued strengthening of the Bank’s financial fundamentals, in particular the improvement of its capitalization and asset quality, as well as its sustained profitability. The rating agency indicates further upside potential over a 12-18 months outlook horizon.
Anas Abuzaakouk, Co-CEO of BAWAG P.S.K., commented: “The most recent ratings upgrade from Moody’s is a real testament to the transformation of the Bank over the past few years. Today, BAWAG P.S.K. ranks amongst the best capitalized, most efficient and profitable banks across Europe. We will continue to execute on a variety of operational and strategic initiatives to further drive efficiency, operational excellence and profitable growth.”
Benjamin del Fabro (Head of IR & Communications)
Tel: +43 (0) 5 99 05-22456
Georgia Schütz-Spörl (Press Officer)
Tel: +43 (0) 5 99 05-31210