Moody’s: Thomas Cook’s liquidation credit negative for Bulgarian, Cypriot and Greek banks

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Moody’s: Thomas Cook’s liquidation credit...
 © In-Cyprus 2020
Moody’s rating agency says Thomas Cook`s liquidation is credit negative for Bulgarian, Cypriot and Greek banks as tourism declines.

“On 23 September, Thomas Cook Group plc filed for compulsory liquidation, a credit negative for Bulgarian, Greek and Cypriot banks because the UK travel company`s collapse will weaken the cash flow of businesses in those countries` significant tourism and related sectors, potentially leading to higher credit impairments and loss of business”, says Moody’s.

It adds that, the compulsory liquidation of Thomas Cook and the resultant decline in...


This article was automatically added to our system 26-9-2019

Moody’s: Thomas Cook’s liquidation credit negative for Bulgarian, Cypriot and Greek banks


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Article Tags: moody, thomas, liquidation, credit, negative, bulgarian, cypriot, greek, banks,