Frankfurt am Main, October 12, 2016 -- Moody's Investors Service has today taken rating actions on three Austrian financial institutions following the announcement by Kaerntner Ausgleichszahlungs-Fonds (KAF, backed senior secured rating Aa1 stable) on 10 October 2016 that the required two-third acceptance rate was comfortably met for its renewed tender offer for Heta Asset Resolution AG's (Heta) senior unsecured and subordinate debt obligations, which benefit from a grandfathered statutory guarantee of the regional State of Carinthia (B1 with developing outlook).

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