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DBRS revises trend on Kommunalkredit Austria

DBRS on Oct. 11 confirmed Kommunalkredit Austria AG's BBB (low)/R-2 (middle) long-and short-term debt and deposit ratings and revised the trend on the ratings tonegative from stable.

The bank's BBB (low) intrinsic assessment and SA3 supportassessment remain unchanged.

The trend change reflects the rating agency's view that thebank has made relatively little progress toward its profitability and newbusiness volume targets, following regulatory delays in the approval of itsdemerger. Kommunalkredit Austria was sold in late2015, with its entire business operations transferred to a newly incorporatedcompany and the remainder merged into run-down entity .