Fitch affirms Hellenic Bank’s rating at “B” with a negative outlook
Fitch Ratings has affirmed Hellenic Bank Public Company Limited`s (HB) Long-Term Issuer Default Rating (IDR) at `B` and Viability Rating (VR) at `b` and removed them from Rating Watch Negative (RWN). The Outlook on the Long-Term IDR is Negative.
The affirmation reflects the rating agency’s updated view that HB`s ratings are not immediately at risk from the impact of the economic downturn from the pandemic, as its current financial position provides the bank with some rating headroom to absorb the likely reduction in profitability, higher credit risks and higher capital encumbrance from unreserved non-performing exposure (NPE) due to the coronavirus crisis.
(CNA)
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The affirmation reflects the rating agency’s updated view that HB`s ratings are not immediately at risk from the impact of the economic downturn from the pandemic, as its current financial position provides the bank with some rating headroom to absorb the likely reduction in profitability, higher credit risks and higher capital encumbrance from unreserved non-performing exposure (NPE) due to the coronavirus crisis.
(CNA)
*The full text of the news item is available in the paid version of the CNA web service. Subscription Form
*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.
from Cyprus News Agency
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