Moody's: Eurobank Tekfen direction to uncertain

Moody's Investors Service said it changed the review placement on Eurobank Tekfen AS's Ba3 deposit rating to direction uncertain from review for downgrade.

Eurobank Tekfen's other ratings are unaffected by this announcement. More specifically, Moody's maintained the review for downgrade of its D- bank financial strength rating, mapping to Ba3 on the long-term scale.

Moody's said this follows the share-purchase agreement entered into on April 9 between Burgan Bank SAK and EFG Eurobank Ergasias to acquire a majority stake at Eurobank Tekfen.

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