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Credit Notice: S&P To Assess The Credit Impact Of Its Downgrade Of Greece On Four Greek Banks And One Subsidiary

Published Jun 13, 2011

1036 words — Published Jun 13, 2011

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Abstract:

MADRID (Standard&Poor's) June 13, 2011--Standard&Poor's Ratings Services today lowered its long-term sovereign credit ratings on the Hellenic Republic (Greece) to 'CCC' from 'B'. The short-term ratings were affirmed at 'C'. At the same time, the ratings were removed from CreditWatch negative. The outlook is negative. (See "Long-Term Sovereign Rating On Greece Cut To 'CCC'; Outlook Negative," published today on RatingsDirect.) We believe that this downgrade could have a negative impact on the creditworthiness of the four Greek banks and one related international subsidiary that we rate, namely: National Bank of Greece S.A. (B/Watch Neg/C) and its strategically important Bulgarian subsidiary United Bulgarian Bank A.D. (B/Watch Neg/C), EFG Eurobank Ergasias S.A. (B/Watch Neg/C), Alpha Bank A.E. (B/Watch

Brief Excerpt:

RESEARCH Credit Notice: S&P To Assess The Credit Impact Of Its Downgrade Of Greece On Four Greek Banks And One Subsidiary Publication date: 13-Jun-2011 Primary Credit Analyst: Luigi Motti, Madrid (34) 91-788-7234; luigi_motti@standardandpoors.com...

Report Type:

News

Ticker

ETE@GA

Issuer

National Bank of Greece S.A.

GICS

Diversified Banks (40101010)

Sector

Global Issuers, Structured Finance

Country

Greece

Region

Europe, Middle East, Africa

Format:

HTML

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Credit Notice: S&P To Assess The Credit Impact Of Its Downgrade Of Greece On Four Greek Banks And One Subsidiary" Jun 13, 2011. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Credit-Notice-S-P-To-Assess-The-Credit-Impact-Of-Its-Downgrade-Of-Greece-On-Four-Greek-Banks-And-One-Subsidiary-872055>

APA:	S&P Global Ratings’ Credit Research. (). Credit Notice: S&P To Assess The Credit Impact Of Its Downgrade Of Greece On Four Greek Banks And One Subsidiary Jun 13, 2011. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Credit-Notice-S-P-To-Assess-The-Credit-Impact-Of-Its-Downgrade-Of-Greece-On-Four-Greek-Banks-And-One-Subsidiary-872055>

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