Fitch upgrades ratings of Greece’s four systemic banks
Fitch Ratings has upgraded the credit ratings of Greece’s four systemic banks – i.e. National Bank of Greece, Piraeus Bank, Alpha Bank and Eurobank.
This upgrade reflects the improved assessment of Greece’s operating environment, now rated at BB+.
Fitch upgraded the credit ratings of National Bank of Greece and Eurobank to BB+ from BB, and the ratings of Alpha Bank and Piraeus Bank to BB from BB-.
All four banks have been assigned a positive outlook.
“We expect the Greek economy to continue to outperform the eurozone average. Paired with falling unemployment and the deployment of the country’s Recovery and Resilience Fund, this should support banks’ ability to capture profitable business opportunities,” says Fitch.
