Sunday, 09. March 2014
19. 02. 14. - 14:00
Hypo Tirol Bank AG and UniCredit Bank Austria AG are among some of the latest banks to have their ratings downgraded by ratings agency Moody's Investors Service.
Along with Vorarlberger Landes- und Hypothekenbank AG, the agency has slashed the ratings of some of their debt instruments, as well as placing the deposit ratings of Hypo Tirol Bank AG on review for downgrade.
The move is a reaction to uncertainty over whether the Austrian government will opt for allowing ailing lender Hypo Alpe Adria to go insolvent. Moody's said on Tuesday that they believe "bondholders may not be fully protected in that process".
The downgrades follow a similar stance taken by Moody last week when they also downgraded Hypo and the state of Carinthia, the region where the bank is based.
The triple A backed senior unsecured debt ratings of Pfandbriefstelle bank have also been placed on review for downgrade.
The option of creating a state 'bad bank' that would absorb the billions of debts held by Hypo is the preferred approach of the Austrian government although a final decision has not been made yet. Last week the US financial services company Standard & Poor's announced that the increasing likeliness of the Austrian government to set up a state-run 'bad bank' will not immediately damage the country's debt ratings.
What is on at Burg Kino this week (7 March - 13 March)
See what films are on this week at the Burg Kino on the Opernring.
Police catch graffiti-villain of Vienna
A graffiti sprayer, named "Puber" has been one of the main "villains" of Vienna for almost a year. He has filled almost the half of the city with his drawings. Now, a suspect, alleged to be the notorious sprayer himself is in the police custody of Vienna and may face up to five years in prison.
Apartment sales drop in Austria
According to the brokerage firm Re/Max, the number of the real estate sales in Austria has declined around 8.3% in the last year. The exact number of properties which were sold and bought accounts to over 80,000 units, which translates into 16 billion euros. Apartments were the most popular type of property sold last year, accounting for 28,000 of the units sold, but there has still been a 9.3% decrease from the last year.
McDonalds boom in Austria
McDonald's in Austria generated 560 million Euros in sales in 2013 after introducing more branches and expanding it's product range.
Exhibition takes you on a journey with Sigmund Freud
To mark the 75th anniversary of Sigmund Freud's death, the museum dedicated to him in Vienna is holding an exhibition looking at Freud's journeys around the world, including his final one that saw him flee National Socialism in 1938.
Plastic replacing fish in the Danube
The Danube is so polluted that there are now more plastic particles than fish larvae in the water according to new research.
Ladies skiing offer at Stuhleck this weekend
In celebration of International Women's Day on Saturday 8 March, the Stuhleck ski resort in eastern Austrian is giving female skiers discount prices on ski passes.
Rediscovered 'degenerate' painting on show at Belvedere
A painting that was rediscovered in 2012, decades after it was seized by the Nazi's for being 'degenerate', is on display at the Belvedere Palace in Vienna.
Austrian Airlines spellcheck mishap
The online copyeditor for Austrian Airlines will be getting a slap on the wrist after it was embarrassingly revealed that the English version of their website is riddled with spelling and grammatical errors.
Carnival firemen answer 999 call as giant bees with handbags
Ten Austrian fireman ended up answering an emergency call for a serious road accident dressed as giant bumblebees after they got kitted out for a fancy dress parade on a carnival float shortly before they got the emergency call.
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