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FINANCIALS: Greece: Piraeus, NBG Get Fitch Single Notch Upgrades

FINANCIALS

Greek banks getting single notch upgrades (NBG and Piraeus) based on “improved assessment of Greece’s operating environmentalso improvements in both of these issuers on a standalone basis around non-performers, profitability and internal capital generation.

  • Piraeus Bank (TPEIR: Ba2 pos/B+ stable/BB pos) getting upgrades from Fitch to BB (from BB-) and retaining positive outlook.
  • Natl Bank of Greece (ETEGA: Baa2/BB+ pos/BB+ pos) also getting Fitch upgrade to BB+ (from BB) and also retain positive outlook.
  • “*FITCH UPGRADES PIRAEUS BANK TO 'BB'; OUTLOOK POSITIVE
  • *FITCH UPGRADES NATIONAL BANK OF GREECE TO 'BB+'; OUTLOOK” – BBG

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