Eurobank S.A. – Ratings Upgraded and Outlook Revised to Stable

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has upgraded the Long-Term Foreign Currency Rating (LT FCR) of Eurobank S.A. (Eurobank or the Bank) to ‘BBB-’ and its Short-Term Foreign Currency Rating (ST FCR) to ‘A3’. At the same time, CI Ratings has upgraded Eurobank’s Bank Standalone Rating (BSR) to ‘bbb-’ and raised its Core Financial Strength (CFS) rating to ‘bbb-’. The ESL of Uncertain has been affirmed. The Outlook for both the LT FCR and BSR is revised to Stable from Positive.

The upgrade of the Bank’s LT FCR and BSR is driven by both the improved CFS rating to ‘bbb-’ and Greece’s improved Operating Environment Risk Anchor (OPERA) of ‘bbb-’. The CFS upgrade reflects the Bank’s meaningful geographic diversification, resulting in strong market positions in the three main markets in which it operates (Greece, Cyprus and Bulgaria), and its significantly improved asset quality. Additional supporting factors include the…