Hellenic Bank – LT FCR Raised and Outlook Revised to Stable
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Summary
Ref: CY005 21 CRA00- 0 2 13 December 20 2 2
Hellenic Bank – LT FCR Raised 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 Hellenic Bank (HB) to ‘BB’ from ‘BB- ’ and affirmed the Short-Term Foreign Currency Rating ( ST FCR ) at ‘B’ . At the same time, CI Ratings has raised HB’s Bank Standalone Rating ( BSR ) to ‘bb’ from ‘bb-’. The Outlook for the LT FCR and BSR has been revised to Stable from Positive. The Bank’s Core Financial Strength ( CFS ) rating of ‘bb’ and Extraordinary Support Level ( ESL ) of Uncertain have been affirmed .
The upgrade of both the LT FCR and BSR is due to the improved Operating Environment Risk Anchor ( OPERA ) as outlined below. The affirmation of the CFS and the revision of the…