Oberoesterreichische Landesbank AG Affirmed At ?A+/A-1? Following Outlook Revision On Upper Austria; Outlook Remains Neg

On May 20, 2022, we revised our outlook on the State of Upper Austria to stable from negative and affirmed the 'AA+/A-1+' ratings. While the rating action on its majority owner is supportive for Oberösterreichische Landesbank (Hypo OÖ), the bank's operating environment remains challenging, in our view. Ongoing profitability pressure in the Austrian banking system as well as tail risks from negative second-round repercussions from the Russia-Ukraine war on the economy create downside risks for Hypo OÖ, similar to its peers. As a consequence, we affirmed our 'A+/A-1' ratings on Hypo OÖ with a negative outlook. The negative outlook reflects our view of profitability pressure in both the Austrian banking system and at the bank. FRANKFURT (S&P Global Ratings) May

...May 24, 2022 - On May 20, 2022, we revised our outlook on the State of Upper Austria to stable from negative and affirmed the '##+/A-1+' ratings. - While the rating action on its majority owner is supportive for Ober÷sterreichische Landesbank (Hypo O+), the bank's operating environment remains challenging, in our view. - Ongoing profitability pressure in the Austrian banking system as well as tail risks from negative second-round repercussions from the Russia-Ukraine war on the economy create downside risks for Hypo O+, similar to its peers. - As a consequence, we affirmed our 'A+/A-1' ratings on Hypo O+ with a negative outlook. - The negative outlook reflects our view of profitability pressure in both the Austrian banking system and at the bank. FRANKFURT (S&P Global Ratings) May 24, 2022--S&P Global Ratings today affirmed its 'A+/A-1' long-term and short-term issuer credit rating on Ober÷sterreichische Landesbank. The outlook is negative. At the same time, we affirmed our '###-' issue...

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