Moody's: Boost for Cyprus banks

Moody's Investors Service said it published the rating results for banks in Cyprus as part of the application of its refined joint default analysis and updated bank financial strength rating methodologies.

The changes for ratings of Cyprus banks include:

Bank of Cyprus plc's foreign-currency debt rating for senior obligations upgraded to A2 from Baa1, foreign-currency debt rating for subordinated debt obligations upgraded to A3 from Baa2, commercial paper rating upgraded to prime-1 from prime-2 with stable outlook.

Marfin Popular Bank plc's foreign-currency debt rating for senior obligations upgraded to A3 from Baa1, foreign-currency debt rating for subordinated debt obligations upgraded to Baa1 from Baa2 with stable outlook.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.