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S&P assigns ratings to Austria-based Oberbank

S&P Global Ratings on Jan. 9 assigned to Austria's Oberbank AG long- and short-term issuer credit ratings of A/A-1, with a stable outlook.

The agency also assigned to the bank long- and short-term resolution counterparty ratings of A+/A-1.

The ratings consider the bank's proven stability and franchise strength in one of the lower-risk European banking markets and the bank's strong capitalization.

The agency also considered Oberbank's good efficiency when compared to other banks in the same region.

The agency's view is that the bank would likely be subject to an open bank resolution in case of a failure and has a meaningful base of loss-absorbing capacity, which is reflected in the ratings.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings document referred to in this news brief can be found in the sources section.