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Moody's has lowered the ratings of two major banks in Cyprus

 
Treyfish
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User ID: 14756837
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06/12/2012 08:44 PM
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Moody's has lowered the ratings of two major banks in Cyprus
International rating agency Moody's on Wednesday night a reduced level of credit ratings of two of the three largest banks Kipra.D olgovoy rating Bank of Cyprus downgraded to B2, and Hellenic Bank - to B1.

In this case both the rating placed on review with "negative" outlook.
[link to translate.google.com]
Anonymous Coward
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06/12/2012 08:55 PM
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Re: Moody's has lowered the ratings of two major banks in Cyprus
Why is this pinned? This is a regular occurrence now. And its Cypress for crying out loud
Treyfish (OP)
User ID: 14756837
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06/12/2012 10:17 PM
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Re: Moody's has lowered the ratings of two major banks in Cyprus
Thanks for the pin! ..to another downgrade! SOON ochange
Treyfish (OP)
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06/12/2012 10:28 PM
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Re: Moody's has lowered the ratings of two major banks in Cyprus
Moody's downgrades two Cyprus banks on Greece fears


June 13, 2012 - 8:43AM

...Cyprus Popular Bank has 42 per cent of its net loans to Greek borrowers, Bank of Cyprus 34 per cent of gross loans, and Hellenic Bank 17 per cent of gross loans.

"As such, their capital positions remain susceptible to the direct and indirect consequences of a Greek exit," said Moody's.

Moody's said it views the chance of Greece's pullout from the eurozone "as substantial" and that "the probability of such an outcome may increase further following the Greek parliamentary elections on 17 June."

Cyprus conceded last week that it may need a European Union bailout to save its banking system....


Read more: [link to www.smh.com.au]
Anonymous Coward
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06/13/2012 03:02 AM
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Re: Moody's has lowered the ratings of two major banks in Cyprus
Oh, do they have banks in Cyprus now?! Do tell, learn something new every day (just kidding). battleflag
Anonymous Coward
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Greece
06/13/2012 03:11 AM
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Re: Moody's has lowered the ratings of two major banks in Cyprus
Cyprus banks lost a lot of money from the haircut of the Greek debt, which was a haircut against Greek, Cypriot banks and a few small amount bond holders. The Cypriot Government doesn't have an actual problem. Only the banks.
Tepid Pool
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06/13/2012 04:48 AM
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Re: Moody's has lowered the ratings of two major banks in Cyprus
I love the Moody Blues!
No More Lies

User ID: 1707881
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03/17/2013 07:07 AM

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Re: Moody's has lowered the ratings of two major banks in Cyprus
these banks are going to go nuke and set off a chain reaction

Last Edited by PANIK on 03/17/2013 07:07 AM





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