National Bank of Greece SA (NBGr.AT)
23 May 2018
Latest Key Developments (Source: Significant Developments)
Fitch Ratings : Fitch affirms four Greek covered bonds programmes . Affirmed rating of Greek covered bonds issued by Alpha Bank AE, national bank of Greece S.A. And Piraeus Bank S.A. .Greek covered bonds issuers' issuer default rating (idr) and VR are still 'RD' and 'F'. Full Article
Fitch Ratings : Fitch affirms Greek banks at 'RD' on capital controls . Banks' IDRs of 'RD' reflect view that Greek banks are defaulting on a material part of their senior obligations . Affirmation of four Greek banks' VRs at 'F' reflects opinion that these banks would default if deposit restrictions are lifted .Greek banks' credit profiles remain weak, with large funding imbalances and heavy reliance on eurosystem funding. Full Article
ATHENS Greece's big banks must not relax efforts to reduce their bad debt after the positive outcome of a health check by the European Central Bank, a source familiar with the situation said on Tuesday, as the sector still faces challenges.