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Research Update: Ratings On Five Hybrids Of National Bank of Greece Raised To 'CC' On Completion Of Tender Offer

Published Jan 24, 2012

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About This Report

Abstract:

National Bank of Greece S.A. (NBG) announced the completion of its tender offer to acquire five outstanding hybrid capital securities on Jan. 16, 2012. We are therefore raising the issue ratings on the securities to 'CC' from 'C'. Today's action does not affect the counterparty credit ratings on NBG and the other issue ratings. On Jan. 24, 2012, Standard&Poor's Ratings Services raised to 'CC' from 'C' its issue ratings on five hybrid securities issued by National Bank of Greece Funding Ltd. and guaranteed by the National Bank of Greece S.A. (NBG; CCC/Negative/C). The rating action follows the bank's announcement on Jan. 16, 2012, of the completion of its tender offer launched on five hybrid capital securities on Jan.

Report Type:

Research Update

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. "Research Update: Ratings On Five Hybrids Of National Bank of Greece Raised To 'CC' On Completion Of Tender Offer" Jan 24, 2012. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Ratings-On-Five-Hybrids-Of-National-Bank-of-Greece-Raised-To-CC-On-Completion-Of-Tender-Offer-933145>

APA:	S&P Global Ratings’ Credit Research. (). Research Update: Ratings On Five Hybrids Of National Bank of Greece Raised To 'CC' On Completion Of Tender Offer Jan 24, 2012. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Ratings-On-Five-Hybrids-Of-National-Bank-of-Greece-Raised-To-CC-On-Completion-Of-Tender-Offer-933145>

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