Moody’s upgrades Greek banks

Moody’s Investors Service said it raised its ratings for several debt-issuing Greek banks.

“The principal rating driver is the improved economic standing of Greece, with better operating and credit conditions that provide a more supportive operating environment for the country's banks. Structural improvements and reforms have improved the economy's resilience to shocks, the agency said in a press release.

Moody’s raised Alpha Bank SA’s senior unsecured regular bond/debenture rating to Ba3 from B2 with the outlook changed to stable from positive. It also boosted Alpha Services and Holdings SA’s subordinate regular bond/debenture rating to B2 from B3 and revised the outlook to stable from positive.

The agency lifted Eurobank SA’s senior unsecured regular bond/debenture rating to Ba3 from B1. The outlook remains positive.

For the National Bank of Greece SA, Moody’s upgraded its senior unsecured regular bond/debenture, rating to Ba3 from B1. The outlook remains positive.

Finally, the agency raised Piraeus Financial Holdings SA’s subordinate regular bond/debenture rating to B3 from Caa1 and revised the outlook to stable from positive.

© 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.