Austria-Based Oberoesterreichische Landesbank AG Outlook Revised To Stable; 'A+/A-1' Ratings Affirmed

On June 8, 2018, we revised our outlook to stable from negative on the State of Upper Austria, which is the major shareholder of Oberoesterreichische Landesbank AG (Hypo OÖ). We regard Hypo OÖ as a government-related entity with a high likelihood of receiving timely and sufficient extraordinary government support from Upper Austria, which we factor into our view of the bank's creditworthiness. We are consequently revising our outlook on Hypo OÖ to stable from negative, and affirming our 'A+/A-1' ratings. The stable outlook mirrors the outlook on Upper Austria, pointing to our expectation that the high likelihood of support from Upper Austria, which we reflect in the ratings on Hypo OÖ, will remain unchanged over the next two years. FRANKFURT

...+ On June 8, 2018, we revised our outlook to stable from negative on the State of Upper Austria, which is the major shareholder of Oberoesterreichische Landesbank AG (Hypo O+). + We regard Hypo O+ as a government-related entity with a high likelihood of receiving timely and sufficient extraordinary government support from Upper Austria, which we factor into our view of the bank's creditworthiness. + We are consequently revising our outlook on Hypo O+ to stable from negative, and affirming our 'A+/A-1' ratings. + The stable outlook mirrors the outlook on Upper Austria, pointing to our expectation that the high likelihood of support from Upper Austria, which we reflect in the ratings on Hypo O+, will remain unchanged over the next two years. FRANKFURT (S&P Global Ratings) June 11, 2018--S&P Global Ratings said today that it revised its outlook on Austria-based Oberoesterreichische Landesbank AG (Hypo O+) to stable from negative. We also affirmed the 'A+' long-term and 'A-1' short-term issuer...

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