Moody’s Investors Service upgraded on Tuesday the long-term deposit ratings of Piraeus Bank and the National Bank of Greece to “Caa2” from “Caa3”, and affirmed Alpha Bank, Eurobank Ergasias and Attica Bank long-term deposit ratings at “Caa3”, ANA reports.
The ratings agency noted the move reflects the Greek lenders’ improved liability structure and the country’s deposit ceiling upgrade to “B3” from “Caa2”.
It also said that its Greek banks ratings balance the improvements in their credit profiles in 2016-17 and the prospects of further stabilisation in 2018-19, against the still significant downside risks stemming from the very high level of nonperforming exposures and the still difficult operating environment in Greece.
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