|
|
Article: Moody's axes Cyprus's Hellenic Bank to "negative".
- Article from:
- ADP Debt News
- Article date:
- September 23, 2009
CopyrightCOPYRIGHT 2009 Aii Data Processing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
(ADPnews) - Sep 23, 2009 - Moody's lowered the outlook on Cypriot lender Hellenic Bank Public Company Ltd (CSE:HB) to "negative" citing difficulties experienced by its Greek business.
The previous status of the outlook was "stable".
The "stable" outlook on Hellenic Bank's Baa2 deposit rating was unaffected. This reflects the very high likelihood of systemic backup, should the need arise.
"Moody's rating action was prompted both by challenging operating/macro conditions -- and their impact on Hellenic Bank's asset quality and interest margins -- and, more ...