Fitch Upgrades Greek Banks After Recapitalisation, Sovereign Upgrade

Fitch Upgrades Greek Banks After Recapitalisation, Sovereign Upgrade


Fitch Ratings said it upgraded four Greek banks' Long-Term Issuer Default Ratings (IDRs) to 'B-' from 'CCC', Short-term IDRs to 'B' from 'C' and Viability Ratings (VR) to 'b-' from 'f'.

The four banks are the National Bank of Greece, Piraeus Bank, Alpha Bank and Eurobank Ergasias.
The agency also revised the banks' Support Rating Floors (SRF) to 'No Floor' from 'CCC' and affirmed the Support Rating (SR) at '5'.
These rating actions follow the banks' recapitalisation and a more stabilised macroeconomic environment in Greece, which is reflected in the agency's upgrade of Greece's sovereign rating to 'B-' from 'CCC' with a Stable Outlook earlier this week, it added.
The outlook on the banks' Long-term IDRs is stable, reflecting the close correlation with that of the sovereign.


Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.