On 25 November 2008, Standard & Poor's lowered their long-term counterparty credit rating on RZB to "A" from "A+", reflecting their expectation of a significant deterioration of macroeconomic conditions in Central and Eastern Europe (CEE), which, in their view might entail a considerable adverse impact on RZB's asset quality and profitability. The "A-1" short-term counterparty credit rating on RZB was affirmed. On 1 April 2009, Moody's followed S&P by cutting their long-term counterparty credit rating for RZB to "A1" from "Aa2" based on the same rationale.

Both agencies noted favourably that RZB maintains the market-leading domestic franchise of the Austrian Raiffeisen banking sector, its strong cohesiveness and solidarity, underpinned by a comprehensive protection scheme, and the good financial flexibility and high internal capital generation within the Raiffeisen banking sector. They acknowledge RZB's strong market position and well-diversified operations in CEE with a long-lasting track record of predominantly organic growth. Amid the wave of rating downgrades of banks across the board in the wake of the financial market crisis, RZB considers itself solidly positioned and does not understand the latest rating action as criticism of its general business focus as a leading corporate bank in Austria and the leading universal banking group in CEE.

RZB’s current ratings	Rating
Standard & Poor's Short-term	A-1
Standard & Poor's Long-term	A
Moody's Short-term	P-1
Moody's Long-term Debt and Deposit	A1
Moody's Financial Strength	D+
Fitch Short-term Issuer Default Rating	F1
Fitch Long-term Issuer Default Rating	A
Fitch Individual Rating	C/D