Austria Rating Already Prices In Hypo Alpe Capital Gap, S&P Says
Lozmann spoke at a briefing in Vienna today.
Hypo Alpe, the nationalized Austrian lender loaded with bad debt, said today that its capital need rose to 2.19 billion euros.
The risk of further state capital injections into banks was one of the main reasons the Alpine republic lost its AAA rating at Standard & Poor’s and was put on negative outlook at Moody’s Investors Service earlier this year.
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