Bank of Cyprus – Ratings Upgraded and Outlook Revised to Stable

Overview

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

Attachments

• Rating Announcement (CRA)
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• Bank Rating Report (Cyprus, Bank of Cyprus)
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