Erste Group Bank's operating environment in Central and Eastern Europe has improved and loan growth is expected to be in lower-risk countries over the next two years. At the same time, risks in the domestic market are abating, in our view. As a result, we are raising our issuer credit ratings on Erste Group Bank to 'A/A-1' from 'A-/A-2'. The positive outlook reflects our view that Erste will continue to strengthen its capitalization or improve its additional loss-absorbing capacity over the next two years. On Oct. 30, 2017, S&P Global Ratings raised its long- and short-term issuer credit ratings on Erste Group Bank AG to 'A/A-1' from 'A-/A-2'. The outlook is positive. At the same time, we raised our issue
