Fitch reviews Greek banks

Fitch Ratings said it placed the ccc viability ratings of National Bank of Greece SA, Alpha Bank AE, Piraeus Bank SA and Eurobank Ergasias SA on rating watch evolving.

The agency also placed the four Greek banks' long-term senior unsecured debt ratings and the long-term subordinated debt rating of Bank of Cyprus PCL on rating watch positive and maintained the subordinated debt rating of Credito Valtellinese on rating watch evolving.

The actions reflect the Dec. 12 publication of the Exposure Draft: Bank Rating Criteria. As outlined in the draft, Fitch said it plans to introduce + and - modifiers at the CCC/ccc level for long-term issuer default ratings, long-term international debt and deposit ratings, derivative counterparty ratings and viability ratings.

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