Calamos Supports Greece
GreekReporter.comGreek NewsEconomyS&P Gets Down four Greek Banks

S&P Gets Down four Greek Banks

The evaluation agency Standard&Poor’s got down the ratings for Greek banks National Bank of Greece (NBG), EFG Eurobank (EFG), Alpha Bank and Piraeus Bank with acitivities in Romania by three steps, to « CCC » the « extremely speculative » category, after a similar decision regarding Greece. The ratings for long term credits were dropped from « B » ( high speculative) to « CCC » with negative perspective, according to a press release of S&P. This perspective reflects the possibility for the banks to be downgraded again, if the agency considers it is possible for the institutions to get to default.
NBG, EFG, Alpha Bank and Piraeus Bank downgrading reflects the S&P opinion regarding the high risks for the financial situation of the banks, especially as regards liquidity from retail on the Greek market, as well as the capital situation. The four banks have pressure risks for short term for the financing through retail in Greece, as the population takes into consideration the need of the Greek state for a new financial foreign help and the conditions where it could be given. According to the available information at present, these conditions could be included in a possible restructuring of the public debt, which could lead to one or several default, the press release says.

See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!



Related Posts