Fitch lowers two Greek banks

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

Their short-term state-guaranteed senior debt ratings also were affirmed at C.

The downgrades follow the downgrade of Greece’s sovereign long-term foreign-currency issuer default rating, Fitch said.

The government-guaranteed debt issuances are senior unsecured instruments that bear the full guarantee of the Greek state, the agency said. The ratings on these instruments are sensitive to any changes in Greece’s sovereign ratings, Fitch said.

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