Fitch ratings agency has downgraded Hellenic Bank’s long-term Issuer default rating (IDR) to ‘B’ from ‘B+’ and Viability Rating (VR) to ‘b’ from ‘b+’ and placed them both on rating watch negative (RWN). At the same time, Fitch has placed Bank of Cyprus long-term IDR of ‘B-‘ and VR of ‘b-‘ on RWN.
Read full articleFitch rating agency maintains Cyprus’s long-term credit rating to BBB- changing the outlook from positive to stable. According to the Ministry of Finance, the agency highlighted the government’s responsible management both of the economy and the public finances under the present conditions due to the coronavirus pandemic.
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