Moody’s considers upgrading Hellenic, Co-op after deal

13-7-2018 Business Mail BusinessMail Warmer

Moody’s considers upgrading Hellenic, Co-op...

By Stelios Orphanides

Moody’s Investors Service said that it has placed the credit rating of Hellenic Bank and the Cyprus Cooperative Bank on review for a possible upgrade following the agreement allowing the Co-ops operations to Hellenic.

Hellenic Bank’s has received a Caa1 long-term deposits rating, a caa2 baseline credit assessment, a B2 long-term counterparty risk rating and a B2(cr) long-term countrerparty risk assessment.

“Moody’s also changed the direction of the review on Cyprus Cooperative Bank Ltd’s Caa2 long-term deposit and long-term...

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