S&P Downgrades Four Greek Banks, Nbg's Bulgarian Unit by SeeNews - The Corporate Wire

S&P Downgrades Four Greek Banks, Nbg's Bulgarian Unit

By SeeNews - The Corporate Wire

  • Publication Date: 2011-03-31
  • Genre: Economics

Book Summary

SOFIA, (Bulgaria), March 31 (SeeNews) - Standard&Poor's on Thursday said it lowered its long-term counterparty credit rating on the National Bank of Greece (NBG) to 'B+' from 'BB+' and its long-term counterparty credit rating on NBG's strategically important Bulgarian subsidiary, United Bulgarian Bank, to 'B+' from 'BB'. The global credit rating agency also lowered its long-term counterparty credit ratings to 'B+' from 'BB' on the other three Greek banks it rates - EFG Eurobank Ergasias, Alpha Bank and Piraeus Bank.

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