Greek banks get confidence boost from Moody’s

The credit rating agency Moody's has upgraded the long-term deposit ratings of Piraeus Bank and the National Bank of Greece by one notch, from Caa2 to Caa3.

28.02.2018 11:18

Newsroom

Greek banks get confidence boost from Moody’s

epa02822270 A sign outside the New York offices of Moody's Corporation in New York, New York, USA, 13 July 2011. Moody's Corporation is the holding company for Moody's Analytics and Moody's Investors Service, a credit rating agency which performs international financial research and analysis on commercial and government entities. The EU has often railed against credit rating agencies for giving negative assessments on the single currency‘s weakest economies. US-based Moody‘s downgraded Portugal‘s rating to junk on 12 July, saying that the country would struggle to bring its debt under control despite a 78-billion-euro (112-billion-dollar) bailout and may even require a second rescue package. EPA/ANDREW GOMBERT (File: INT10167846.jpg )

28.02.2018 11:18

International

Newsroom

The credit rating agency Moody's has upgraded the long-term deposit ratings of Piraeus Bank and the National Bank of Greece by one notch, from Caa2 to Caa3.

The credit rating agency Moody’s has upgraded the long-term deposit ratings of Piraeus Bank and the National Bank of Greece by one notch, from Caa2 to Caa3.

At the same time, Moody’s confirmed Alpha Bank, Eurobank, and Attica Bank long-term deposit ratings at «Caa3».

The move, on Tuesday, reflects the Greek lenders’ improved liability structure and the country’s deposit ceiling upgrade to «B3» from «Caa2».

Moody’s simultaneously affirmed the baseline credit assessment (BCA) of Piraeus Bank, National Bank of Greece, Alpha Bank and Eurobank at «Caa2» and that of Attica Bank at «Caa3».

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