S&P alters OeKB bond view to stable

S&P said it changed its outlook for Oesterreichische Kontrollbank AG’s public sector covered bonds to stable from positive and affirmed the AA+ ratings on the program and the bonds outstanding.

“We equalize our issuer credit ratings (ICRs) on OeKB with the sovereign rating on Austria (AA+/stable/A-1+) since we see an almost certain likelihood that Austria's federal government would provide timely and sufficient extraordinary support to OeKB in the event of financial distress,” S&P said in a press release.

The stable outlook reflects the revision on the sovereign to stable, the agency said.

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