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

S&P Corrects Ratings On National Bank of Greece Preferred Stock By Lowering Them To 'C' From 'CC'

Published Jun 05, 2013

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Abstract:

MILAN (Standard&Poor's) June 5, 2013--Standard&Poor's Ratings Services today corrected its ratings on two preferred stocks (ISIN: XS0203171755 and ISIN: XS0203173298) issued by National Bank of Greece Funding Ltd. by lowering them to 'C' from 'CC' to reflect coupon nonpayment. These two stocks are guaranteed by the parent, National Bank of Greece S.A. (NBG). The issuer was due to pay interest on these stocks on May 7, 2013, but did not pay the amount due; instead, it deferred the coupon without notifying us of its plans. Had we received the relevant information, we would have lowered the issue ratings to 'C' from 'CC' on the due date, rather than today. In addition, we lowered the rating to

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:

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "S&P Corrects Ratings On National Bank of Greece Preferred Stock By Lowering Them To 'C' From 'CC'" Jun 05, 2013. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/S-P-Corrects-Ratings-On-National-Bank-of-Greece-Preferred-Stock-By-Lowering-Them-To-C-From-CC-1141206>

APA:	S&P Global Ratings’ Credit Research. (). S&P Corrects Ratings On National Bank of Greece Preferred Stock By Lowering Them To 'C' From 'CC' Jun 05, 2013. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/S-P-Corrects-Ratings-On-National-Bank-of-Greece-Preferred-Stock-By-Lowering-Them-To-C-From-CC-1141206>

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