We have revised our banking industry country risk assessment for Austria due to increased risks to the stability of the banking system. We consider that increased domestic banking industry risks result in additional pressure for Austria-based Oberoesterreichische Landesbank AG's (HYPO OÖ's) operations. Following our review, we are lowering our long-term counterparty credit rating on HYPO OÖ to 'A' from 'A+'. The stable outlook reflects our expectation that Upper Austria will remain highly supportive to HYPO OÖ and that the bank will preserve its adequate capitalization. As previously announced on June 9, 2015, Standard&Poor's Ratings Services has lowered its long-term counterparty credit rating on Austria-based Oberoesterreichische Landesbank AG (HYPO OÖ) to 'A' from 'A+'. We affirmed the short-term counterparty
