Revises Piraeus, Eurobank, NBG, Alpha Outlook to Positive

Revises Piraeus, Eurobank, NBG, Alpha Outlook to Positive | TheGreekDeal.com

Fitch

Fitch states that the outlook upgrade reflects the assessment that the upgrade of Greece's credit rating to investment grade will benefit the operational environment of the banks.

Newsroom

14/12/23 • 19:27

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1 min

Fitch

The American rating agency Fitch has upgraded the outlook of the four Greek systemic banks from "stable" to "positive.

In details:

Fitch Ratings has revised the Outlook on Piraeus Bank S.A.'s 'BB-' Long-Term Issuer Default Rating (IDR) to Positive from Stable. All issuer and debt ratings have been affirmed. A full list of rating actions is below.

The Outlook revision follows Fitch's revision of the outlook on its 'bb' operating environment (OE) assessment for Greek banks to positive from stable, reflecting the positive effects expected from Greece's sovereign upgrade to 'BBB-'/Stable (see: 'Fitch Upgrades Greece to 'BBB-'; Outlook Stable' dated 1 December 2023.

For Eurobank Ergasias Services and Holdings S.A. and Eurobank S.A. (Eurobank) to Positive from Stable, Fitch has revised the Outlook on the 'BB' Long-Term Issuer Default Ratings (IDR) All issuer and debt ratings have been affirmed. A full list of rating actions is below.

The Outlook revision follows Fitch's revision of the outlook on its 'bb' operating environment (OE) assessment for Greek banks' to positive from stable, reflecting the positive effects expected from Greece's sovereign upgrade to 'BBB-'/Stable (see: 'Fitch Upgrades Greece to 'BBB-'; Outlook Stable' dated 1 December 2023.

For Alpha Bank Fitch Ratings has revised the Outlooks on the 'BB-' Long-Term Issuer Default Ratings (IDRs). All issuer and debt ratings have been affirmed. A full list of rating actions is below.

The Outlook revision follows Fitch's revision of the outlook on its 'bb' operating environment (OE) assessment for Greek banks to positive from stable, reflecting the positive effects expected from Greece's sovereign upgrade to 'BBB-'/Stable (see: 'Fitch Upgrades Greece to 'BBB-'; Outlook Stable' dated 1 December 2023.

For NBG Bank Fitch has revised the Outlook on 'BB' Long-Term Issuer Default Rating (IDR) to Positive from Stable. All issuer and debt ratings have been affirmed. A full list of rating actions is below.