Investkredit Bank AG -- Moody's downgrades Oesterreichische Volksbanken AG to Ba1 from Baa3; ratings on review for downgrade

Frankfurt am Main, March 27, 2014 -- Moody's Investors Service, ("Moody's") has today downgraded the senior unsecured debt and deposit ratings of Oesterreichische Volksbanken AG (VBAG) to Ba1 from Baa3 and placed the ratings on review for further downgrade. The rating agency has also downgraded the short-term rating to Not Prime from Prime-3 and affirmed the standalone bank financial strength rating (BFSR) at E, equivalent to a caa1 baseline credit assessment (BCA). During the review period Moody's will also assess the potential for downward adjustment for the bank's BCA.

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