Eurobank S.A. ’s Ratings Affirmed ; Outlook R evised t o Positive
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Ref: GR028 22 CRA00- 0 1 19 May 202 3
Eurobank S.A. ’s Ratings Affirmed ; Outlook R evised t o Positive
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Outlook on the Long-Term Foreign Currency Rating (LT FCR) and Bank Standalone Rating (BSR) of Eurobank S.A. (Eurobank) to Positive from Stable. The Bank’s LT FCR and BSR have been affirmed at ‘BB-’ and ‘bb-’, respectively. At the same time, CI Ratings has affirmed Eurobank’s Short-Term Foreign Currency Rating (ST FCR) of ‘B’, Core Financial Strength (CFS) rating of ‘bb’ and Extraordinary Support Level (E SL ) of Uncertain.
The revision of the Outlook reflects CI’s expectation that the improvement seen in profitability metrics during 2022 will continue , supported by higher gross income ( mainly net interest income (NII) as a result of further credit growth ), good cost containment , normalised…