Infra Banking Experts
Austria´s Bank for Infrastructure

Press Archive 2009

Click here to download the press releases of Kommunalkredit of the year 2009.

01.12.2009 - Kommunalkredit split up into two banks: Kommunalkredit Austria AG and KA Finanz AG

  • Approval by the Financial Market Supervisory Authority 
  • Entry into Register of Companies – legally effective on 28 November at 00:00
  • Kommunalkredit Austria AG will push expansion of strategic core business
  • KA Finanz AG will run down non-strategic activities of former Kommunalkredit

17.11.2009 - Important restructuring goal reached for Kommunalkredit – Split-up of the bank into two companies decided

  • “Kommunalkredit New” focused on expansion of strategic core business
  • EUR 250 million capital increase from Republic of Austria and Austrian Association of Municipalities
  • “KA Finanz AG” tasked to run down non-strategic activities
  • Government guarantee already reduced by EUR 200 million to EUR 1 billion
  • Net payments of EUR 120 million to Republic of Austria in 2009

14.10.2009 - Moody's concludes rating process ongoing since February

  • Rating refers to situation before restructuring
  • Re-rating to be performed after implementation of restructuring
  • Downgrade in long-term segment from Aa3 to Baa1 (investment grade) – stable outlook – and in financial strength rating from D to E, short-term rating from Prime 1 to Prime 2

27.08.2009 - Kommunalkredit Mid-Year Results

  • Restructuring continuing on schedule
  • Positive consolidated IFRS results
  • Solo financial statements according to new Austrian Commercial  Code negative at EUR 115.9 million after guarantee fees of EUR  94.8 million and after valuation/risk result
  • Successful repositioning in municipal and infrastructure-related customer Business

19.06.2009 - Kommunalkredit presents restructuring plan

  • Split into Kommunalkredit New and Special Purpose Company
  • Capital injection of EUR 250 million for Kommunalkredit New; existing surety of EUR 1,207.9 million remains in place for special purpose company
  • Government revenues from surety fees higher than capital injection
  • Plans to privatise Kommunalkredit New in three years
  • Implementation at no cost for the taxpayer

28.04.2009 - Kommunalkredit: Liquidity situation stabilised; sound basis for growth in local-government and infrastructure core business

  • Consolidated result for the year at EUR –1,454.6 million, after government surety of EUR 1,207.9 million
  • Result for the year includes EUR 1,966.8 million of non-realised valuation losses
  • Liquidity situation stabilised; sound basis for growth in local-governement and infrastructure core business
  • Restructuring plan being agreed with Federal Ministry of Finance

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Marcus Mayer
Corporate Communications
Phone: +43 (0)1/31 6 31-593
Fax: +43 (0)1/31 6 31-503

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