Moody’s ups Greek mortgage-covered bonds

Moody’s Investors Service said it upgraded the ratings for bonds issued by two Greek bank mortgage-covered bond programs.

The agency upgraded Eurobank SA’s mortgage-covered bonds to Baa2 from Baa3 and the National Bank of Greece SA’s bonds to A3 from Baa1.

“The upgrades on the covered bond ratings referenced above follow the Greek sovereign rating upgrade to Ba3 from B1, and the increase of Greece’s long-term country ceilings for foreign currency and local currency bonds to A3 from Baa1,” Moody’s said in a press release.

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