Bloomberg News

Erste Group Falls First Day in Three on Moody’s Credit Downgrade

June 06, 2012

Erste Group Bank AG (RBAG) snapped two days of gains after Moody’s Investors Service cut its credit rating along with other Austrian lenders.

The shares fell 0.6 percent to 366.9 koruna by 9:36 a.m. in Prague trading. Erste, Austria’s largest bank, had its long-term debt rating cut two grades to A3, Moody’s said today in a statement.

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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