Fitch lifts National Bank, Eurobank Ergasias

Fitch Ratings said it upgraded the state-guaranteed long-term senior debt ratings of National Bank of Greece SA and Eurobank Ergasias SA to CCC from CC.

Fitch also said it affirmed Eurobank’s state-guaranteed short-term senior debt rating at C.

The actions follow the upgrade of Greece's sovereign long-term foreign-currency issuer default rating.

The government-guaranteed debt issuances are senior unsecured instruments that bear a full guarantee from the Greek state, Fitch said.

The banks’ government-guaranteed debt ratings are sensitive to any changes in Greece’s sovereign ratings, the agency said.

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