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S&P affirms four Greek banks
S&P said it affirmed its long- and short-term counterparty credit ratings on four Greek banks, including Alpha Bank AE, Eurobank Ergasias SA, National Bank of Greece SA and Piraeus Bank SA, at CCC+/C.
The outlook is stable.
The agency said the affirmation reflects a view that Greek banks' financial profiles are still fragile and will take time to improve materially.
“Our ratings on the Greek banks continue to reflect the banks' poor profitability and very weak asset quality, with nonperforming exposures (NPE) still representing between about 45% and 55% of customer loans as of Sept. 17,” S&P said in a news release.
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