Standard&Poor's has reviewed the impact of its Jan. 25, 2012, downgrade of the State of Upper Austria on its ratings on Austria-based Oberösterreichische Landesbank AG (Hypo OÖ). We are affirming our 'A/A-1' counterparty credit ratings on the bank and removing them from CreditWatch negative In our view, Hypo OÖ has a moderate business position, moderate capital and earnings, adequate risk position, average funding, and adequate liquidity, reflecting a stand-alone profile (SACP) of 'bbb'. We consider that HYPO OÖ has a "high" likelihood of extraordinary support from its 51% owner the State of Upper Austria, which provides a three-notch rating uplift above the SACP. The stable outlook reflects our view of a high likelihood of extraordinary government support for
