Moody’s affirms deposit rating for BoC, Hellenic, puts outlook on positive

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Moody’s affirms deposit rating for BoC,...
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By Stelios Orphanides

Moody’s Investors Service has affirmed the long-term deposit rating of Bank of Cyprus at Caa3 and that of Hellenic Bank at Caa2 and placed them on positive outlook.

“The outlook change reflects Moody’s expectations of further improvements in the banks’ weak asset quality, a return to profitability and improving funding conditions,” the rating company said in an emailed statement on Wednesday. “This is driven by accelerating economic domestic recovery and the banks’ increased restructuring efforts”.

While Moody’s...


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Moody’s affirms deposit rating for BoC, Hellenic, puts outlook on positive


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Article Tags: moody, affirms, deposit, rating, hellenic, outlook, positive,