Fitch Ratings on Monday announced that it has upgraded the long-term senior preferred (SP) debt rating two systemic Greek lenders, namely, National Bank of Greece S.A. (NBG) and Eurobank S.A. (Eurobank) to ‘B-‘/’RR4’ from ‘CCC’/’RR6’.

The international ratings firm also upgraded Piraeus Bank S.A.’s long-term SP debt rating to ‘CCC’/’RR5’ from ‘CCC-‘/’RR6′.

According to Fitch, the upgrades reflects its assessment that “recoveries for the banks’ SP creditors have improved because of subdued asset-quality risks, following a recovery in the Greek operating environment and progress made in their respective de-risking plans, including the sale of substantial portfolios of non-performing exposures (NPE).

Additionally, we believe that the recent disclosure of banks’ minimum requirements for own funds and eligible liabilities (MREL) will underpin the build-up of larger resolution debt buffers and increase the protection that could accrue to SP creditors in a default scenario.”

Ακολουθήστε τον ot.grστο Google News και μάθετε πρώτοι όλες τις ειδήσεις
Δείτε όλες τις τελευταίες Ειδήσεις από την Ελλάδα και τον Κόσμο, στον ot.gr

Latest News

Πρόσφατα Άρθρα English Edition