Moody's has assigned A3 long-term and P-2 short-term deposit ratings and a C Financial Strength Rating to Intermarket Bank AG in Austria.
The ratings are based on Intermarket's leading position in the factoring market in Austria and growing position in Central and Eastern Europe, its good risk management, stable earning power as well as strong capitalisation. At the same time, the ratings also take into account the limited size of the market including the susceptibility to event risk, the bank's high dependence on interbank funding as well as some concentration risk in its exposure to some Austrian companies.
