Research Update: Austria-Based Raiffeisen Bank International Upgraded To 'A-' On Stronger Financial Profile; Outlook Stable

In our view, the Raiffeisen Banking Group's (RBG's) strong consolidated funding and liquidity ratios are now also evident at the main operating entities. We acknowledge the group's stable performance, solid growth, and improving risk metrics. We believe the group's credit profile has strengthened by one notch and are therefore raising our long-term rating on the group's core subsidiary RBI to 'A-' from 'BBB+' and affirming our 'A-2' short-term rating. The outlook is stable because we expect RBG will maintain a cautious growth in higher risk countries over the next two years, alongside increasing intragroup cooperation that improves efficiency and strengthens the group's ability to combat emerging risks and the effects of economic slowdown. On March 3, 2020, S&P Global ratings

...- In our view, the Raiffeisen Banking Group's (RBG's) strong consolidated funding and liquidity ratios are now also evident at the main operating entities. - We acknowledge the group's stable performance, solid growth, and improving risk metrics. - We believe the group's credit profile has strengthened by one notch and are therefore raising our long-term rating on the group's core subsidiary RBI to 'A-' from '###+' and affirming our 'A-2' short-term rating. - The outlook is stable because we expect RBG will maintain a cautious growth in higher risk countries over the next two years, alongside increasing intragroup cooperation that improves efficiency and strengthens the group's ability to combat emerging risks and the effects of economic slowdown....

Research Update