Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research National Bank of Greece S.A.

S&P Corrects Rating On National Bank of Greece's €16 Billion Government-Backed Program By Lowering The Rating To 'CCC'

Published Jun 15, 2011

Price US$ 150.00 | Buy this Report Now

About This Report

Abstract:

MADRID (Standard&Poor's) June 15, 2011--Standard&Poor's Ratings Services today said that it has corrected a data entry error relating to its foreign-currency rating on the €16 billion program issued by the National Bank of Greece (CCC/Negative/C) and guaranteed by the Hellenic Republic (CCC/Negative/C). Due to a data entry error, the foreign-currency rating on this program was not lowered to 'B' from 'BB-' when we lowered our long-term sovereign credit rating on the Hellenic Republic to 'B' from 'BB-' on May 9, 2011. We have now corrected this error, and we have subsequently lowered the rating on the €16 billion program to 'CCC' after having lowered the long-term rating on the Hellenic Republic to 'CCC' on June 13,

Report Type:

Ratings Action

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:

PDF

Ratings On Four Greek Banks Affirmed After Sovereign Downgrade; Outlooks Are Negative – 2011/07/29 – US$ 150.00

Research Update: Ratings On Four Greek Banks Affirmed After Sovereign Downgrade; Outlooks Are Negative – 2011/07/29 – US$ 225.00

National Bank of Greece S.A. – 2011/10/20 – US$ 500.00

Summary: National Bank of Greece S.A. – 2011/10/20 – US$ 225.00

Research Update: National Bank of Greece S.A. 'CCC/C' Ratings Affirmed On Bank Criteria Change; Outlook Negative – 2011/12/06 – US$ 225.00

Four Greek Banks Downgraded To 'CCC' With A Negative Outlook – 2011/06/15 – US$ 150.00

Research Update: Four Greek Banks Downgraded To 'CCC' With A Negative Outlook – 2011/06/15 – US$ 225.00

Credit Notice: S&P To Assess The Credit Impact Of Its Downgrade Of Greece On Four Greek Banks And One Subsidiary – 2011/06/13 – US$ 150.00

Four Greek Banks Downgraded To 'B/C' In Line With Revised Ratings On Greece; All Issuer Ratings Still On Watch Neg – 2011/05/11 – US$ 150.00

Research Update: Four Greek Banks Downgraded To 'B/C' In Line With Revised Ratings On Greece; All Issuer Ratings Still On Watch Neg – 2011/05/11 – US$ 225.00

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author

Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "S&P Corrects Rating On National Bank of Greece's €16 Billion Government-Backed Program By Lowering The Rating To 'CCC'" Jun 15, 2011. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/S-P-Corrects-Rating-On-National-Bank-of-Greece-s-16-Billion-Government-Backed-Program-By-Lowering-The-Rating-To-CCC-872705>

APA:	S&P Global Ratings’ Credit Research. (). S&P Corrects Rating On National Bank of Greece's €16 Billion Government-Backed Program By Lowering The Rating To 'CCC' Jun 15, 2011. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/S-P-Corrects-Rating-On-National-Bank-of-Greece-s-16-Billion-Government-Backed-Program-By-Lowering-The-Rating-To-CCC-872705>

US$ 150.00

$ £ €

Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

Example Report

Click to View Sample Report

More Research

Search all our Residential Mortgage-Backed Securities from one place.