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...
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Moody’s rating agency said Thursday that Thomas Cook`s liquidation was credit negative for Bulgarian, Cypriot and Greek banks as tourism would be negatively affected.

“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”, said Moody’s.

It added that the...


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,