Moody's takes actions on Cypriot banks

Moody's Investors Service said it took actions on Bank of Cyprus PCL, Hellenic Bank PCL and RCB Bank Ltd. following its recent affirmation of Cyprus' Caa3 government bond rating and the corresponding outlook change to positive from stable.

The affected banks' ratings are as follows:

• Bank of Cyprus: Outlook changed to positive from negative, long-term deposit ratings affirmed at Ca and senior unsecured medium-term note program upgraded to provisional Ca from provisional C;

• Hellenic Bank: Outlook changed to positive from negative, long-term deposit ratings affirmed at Caa3, Not Prime short-term deposit ratings affirmed and standalone baseline credit assessment upgraded to caa3 from ca, within the E standalone bank financial strength rating category; and

• RCB Bank: Outlook changed to stable from negative, long-term deposit ratings affirmed at Caa2, Not Prime short-term deposit ratings and its E standalone BFSR, equivalent to a caa2 standalone BCA, affirmed.

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