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Cyprus News Agency: News in English, 13-04-13

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>


CONTENTS

  • [01] Moody's downgrades Bank of Cyprus' deposit ratings
  • [02] British MP calls for the protection of Laiki UK staff

  • [01] Moody's downgrades Bank of Cyprus' deposit ratings

    Moody's credit rating agency downgraded on Friday Bank of Cyprus deposit ratings to Ca, negative outlook, from Caa3.

    Moreover they downgraded senior unsecured debt ratings to C, from Caa3 while the agency confirmed Hellenic Bank's deposit ratings at Caa3 with a negative outlook.

    The subordinated and junior subordinated debt ratings of BoC have been affirmed at C. Hellenic does not have any rated debt outstanding.

    [02] British MP calls for the protection of Laiki UK staff

    A British MP representing a large number of Greek Cypriot constituents in north London has condemned the freezing of the staff's personal accounts in Laiki Bank in the UK as inhumane.

    David Burrowes MP visited Laiki UK branch in Palmers Green, where he heard members of staff describing their feeling of insecurity over their jobs.

    Following a UK authorities' decision after the Cyprus banking sector restructuring, deposits held with Laiki in the UK are to be transferred to Bank of Cyprus UK, regardless of the amount. The deposits will be protected in the new bank as it is a fully UK incorporated subsidiary.


    Cyprus News Agency: News in English Directory - Previous Article - Next Article
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