Fitch: Negative view for three Cyprus banks

Fitch Ratings said it revised the outlook of Bank of Cyprus PCL, Marfin Popular Bank and Marfin Egnatia Bank, Marfin Popular Bank's Greek subsidiary, to negative from stable, reflecting the challenges presented by their Greek exposure. Hellenic Bank Ltd.'s view remains stable, mirroring the stable outlook on the Cypriot sovereign rating, Fitch said.

Bank of Cyprus' long-term issuer default rating was affirmed at BBB+, short-term issuer default rating at F2, senior notes at BBB+ and subordinated notes at BBB.

Marfin Popular Bank's long-term issuer default rating was affirmed at BBB+, short-term issuer default rating at F2 and senior notes at BBB+.

Marfin Egnatia Bank's long-term issuer default rating was affirmed at BBB+, short-term issuer default rating at F2 and subordinated notes at BBB.

Hellenic Bank's long-term issuer default rating was affirmed at BBB and short-term issuer default rating at F3.

© 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.