We now see an increased likelihood that Hypo Vorarlberg Bank AG (HYPO Vorarlberg) would receive extraordinary government support from its majority owner, the State of Vorarlberg. We are raising the issuer credit ratings on the bank to 'A/A-1' from 'A-/A-2'. Our positive outlook on HYPO Vorarlberg reflects our expectation that the bank's internal capital generation capacity, risk profile, and funding conditions will benefit from the ongoing positive momentum in the Austrian banking industry. On Oct. 30, 2017, S&P Global Ratings raised its long-term and short-term issuer credit ratings on Austria-based bank Hypo Vorarlberg Bank AG (HYPO Vorarlberg) to 'A/A-1' from 'A-/A-2'. The outlook is positive. At the same time, we raised the senior unsecured issue ratings to 'A' from 'A-'.
