Moody’s says Hellenic’s agreement with Emma Alpha a credit positive

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Moody’s says Hellenic’s agreement with Emma...
 © In-Cyprus 2018
Moody’s said on Thursday that a commitment by Emma Alpha Holding Ltd to purchase up to €50 million of unsubscribed shares in the Hellenic Bank’s forthcoming €100 million rights issue planned for the fourth quarter was a credit positive for the the bank because added to other subscription agreements, it secures the full amount of its planned capital increase.

The capital increase will facilitate Hellenic’s transformational acquisition of Cyprus Co-operative Bank Ltd.’s €10.3 billion balance sheet, it added.

Emma Alpha Holding Ltd. is fully owned...


This article was automatically added to our system 16-8-2018

Moody’s says Hellenic’s agreement with Emma Alpha a credit positive


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Article Tags: moody, hellenic, agreement, alpha, credit, positive,

 

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