Political Risks Cast Shadows on ORF’s Ratings Outlook

Österreichischer Rundfunk Stiftung öffentlichen Rechts (ORF), Austria’s public service broadcaster, has recently received an Outlook revision to Negative from Stable by Scope Ratings GmbH (Scope). While the rating agency has affirmed ORF’s AA long-term issuer and senior unsecured debt ratings, the shift in Outlook reflects the challenges posed by the political risk associated with its close ties to the Republic of Austria’s government. This article delves into the reasons behind the revised Outlook and highlights the potential risks that could hamper ORF’s optimistic AA ratings.

The Interconnection of ORF and the Austrian Government