(ANSA) - TRIESTE - Moody's yesterday downgraded the rating of the Austrian province of Carinthia from Baa3 to Ba2. The outlook is negative. According to Moody's, the decision is due to increased exposure of the Austrian Land to financial risks. The issue Moody's is referring to is the legal argument with the bondholders of Heta Asset Resolution (Heta), the 'bad bank' Hypo Alpe Adria (with regard to its closure process). According to a note posted on the official website of Moody's, Carinthia provides a guarantee on a very high portion of the Heta's debt, equivalent to 10.2 billion euro, almost five times the Austrian state's total revenue in 2014. Carinthia's current credit rating, Moody's adds, ''takes into account the strong operational and financial performance in recent years, the moderate debt levels and strong liquidity'' of the Austrian state. (ANSA).