S&P Global Ratings on June 11 revised the outlook on Austria-based Oberösterreichische Landesbank AG to stable from negative, while affirming its A+/A-1 long- and short-term issuer credit ratings.
The outlook change follows a similar action on the state of Upper Austria, a controlling shareholder of the bank. The stable outlook reflects S&P's expectation that the high likelihood of "timely and and sufficient" extraordinary government support for the lender in case of need will remain unchanged over the next two years.
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 documents referred to in this news brief can be found here.
