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GreeceBusinessFitch upgrades credit rating of three major Greek banks

Fitch upgrades credit rating of three major Greek banks

Hellenic News of America
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Credit ratings agency Fitch on Monday raised the credit rating of three major Greek banks, Eurobank, National Bank of Greece and Alpha Bank, after upgrading the credit rating of Greece’s economy to one notch below investment grade last Friday.

The credit rating agency upgraded Eurobank and National Bank of Greece to “BB-” from “B+”, and Alpha Bank to “B+” from “B”.

Fitch reported that its decision is justified by the banks’ improved capital position, their profitability, and the expected resilience of the country’ economy in 2023.
On January 27, Fitch upgraded Greece’s rating from ‘BB’ to ‘BB+’.

SOURCE; ANA-MPA

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

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