Significant progress in reducing public debt, a strong track record of prudent fiscal policy, and enhanced economic resilience drive the upgrade. Still high public debt, a limited growth potential, and external vulnerabilities are credit constraints.

The periodic review has resulted in no rating action.

The rating affirmation reflects Finbureau’s successful debt purchase and collection business strategy, maintaining its historical supportive profitability metrics.

Rating affirmation reflects the group’s robust operating performance and strong prudential metrics.

The rating on Hypo-Bank Burgenland AG’s Austrian mortgage covered bonds (Hypothekenpfandbriefe) reflects the issuer's A- rating enhanced by six notches from governance and cover pool support.

Strong integration with its owning counties, high strategic importance in regional development, a strong market position, and resilient toll revenue are strengths. High leverage and significant capital expenditure are challenges.

The periodic review has resulted in no rating action.

The rating reflects a well-established savings bank business model, solid earnings, a moderate risk profile, and sound financial viability management.

The extensive guarantee framework of the Free State of Bavaria (AAA/Stable) for LfA’s obligations and the bank’s high strategic importance to the federal state underpin the rating.

Strong track record of economic growth driven by substantial investments and an improving external position support the rating. High public debt and fiscal deficits, uncertainty about EU fund inflows, and vulnerabilities to external shocks are challenges.