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Athens Macedonian News Agency: News in English, 16-08-02

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

From: The Athens News Agency at <>


  • [01] S&P upgrades Greece's four lenders

  • [01] S&P upgrades Greece's four lenders

    Ratings agency Standard & Poor's upgraded on Tuesday its ratings on four Greek banks after the government partly relaxed capital controls it imposed last June.

    S&P lifted the credit ratings Alpha Bank, Eurobank, National Bank of Greece and Piraeus Bank to "CCC+" from "SD" (selective default), with a stable outlook.

    Last month, the Greek government announced a series of measures which eased capital controls, including an increase in cash withdrawals and allowing new cash deposits to be withdrawn without any restrictions.

    "We view the lifting of this ban as a significant relaxation, as it could allow for cash deposits to be brought back into the banking system, raising confidence in the Greek banking sector," S&P said. "We expect some minor deposit inflows in the coming months," it added.

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