Treasury
Moody's Begins Bawag Group Coverage with A3 Rating, Positive Outlook
Moody's Ratings on Monday initiated its coverage of Bawag Group (BG.VI) with a senior unsecured debt rating of A3 and a positive outlook.The assignment of the first-time rating comes as the Austrian banking group is planning a 500 million-euro senior unsecured bond. Moody's said the A3 rating reflects the results of its advanced loss given failure assessment on the lender and the moderate probability of government support.The outlook on the rating reflects the possibility of an upgrade amid improvements in the lender's strategic profile on the back of its acquisition of Permanent TSB Group (PTSB.IR, PTSB.L), or PTSB.
$BG.VI$PTSB.IR$PTSB.L
