Moody’s says BoC-Pepper deal a “credit positive”

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Moody’s says BoC-Pepper deal a “credit positive”
 © BusinessMail 2017
By Stelios Orphanides

Bank of Cyprus’s decision to enter an agreement with Australia’s delinquent loans specialist Pepper Group Ltd is a credit positive for the lender, Moody’s Investors Service said.

The ability of Cyprus’s largest bank to reduce bad loans will improve as a result of the cooperation with Pepper and the resources the latter will provide, Moody’s said in an emailed statement on Thursday.

The bank announced last week that it received the approval of the board and its workers’ union, Etyk, to outsource management of up to €800m of non-performing retail loans and...


Moody’s says BoC-Pepper deal a “credit positive”


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