We assess that Hypo Tirol Bank AG has a weak business position, adequate capital and earnings, moderate risk position, and an average funding and adequate liquidity position, resulting in a stand-alone credit profile of 'bb'. The long-term issuer rating benefits from three notches of support from the federal state owner, the State of Tyrol, because we consider the bank to be a government-related entity (GRE) with a very strong link with and important role for the state. We are assigning our 'BBB/A-3' long- and short-term ratings to Hypo Tirol Bank AG. The stable outlook reflects our expectation that the bank will continue to benefit from extraordinary government support from the Austrian State of Tyrol as 100% owner and will sustain
