Oberoesterreichische Landesbank AG (HYPO OÖ) showed a continued positive earnings trend in the first half of 2013. We have updated our projections for the next 18-24 months to reflect our anticipation of increasing momentum in HYPO OÖ's internal capital generation. We are therefore revising our outlook on the bank to stable from negative and affirming our 'A/A-1' ratings. The stable outlook reflects our view that HYPO OÖ's expanding capital base will provide a sufficient buffer against potentially rising economic risk in Austria. On Aug. 27, 2013, Standard&Poor's Ratings Services revised its outlook on Austria-based Oberoesterreichische Landesbank AG (HYPO OÖ) to stable from negative. The 'A' long-term and 'A-1' short-term counterparty credit ratings were affirmed. At the same time,
