Fitch ups Eurobank viability to bb+

Fitch Ratings said it upgraded Eurobank SA's viability rating to bb+ from bb.

The agency also affirmed Eurobank's long-term issuer default rating at A-, national long-term rating at AA+(pol) and support rating at 1.

The outlooks are stable.

Fitch said the upgrade of the viability rating reflects its reassessment of risks pertaining to the bank's standalone credit profile. It reflects an extended record of the bank's stable risk appetite and resilient profit generation, as well as the bank's solid capital buffers and sound funding and liquidity profile.

The affirmations of the issuer default ratings, national ratings and support rating reflect the agency’s opinion that there is an extremely high probability of Eurobank being supported, if required, by its parent, Societe Generale.

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