Credit ratings agency Moody’s has upgraded the outlook for Eurobank and National Bank from stable to positive, in line with the Government of Greece’s positive rating change. Moody’s affirmed the banks’ ratings and mentioned their exposure to Greek government bonds affects their credit ratings.
Moody’s decision is significant as it is the only major ratings agency not to give Greece an investment grade. The upgrade for Eurobank reflects its strong financial performance and diversified assets, while National Bank’s upgrade considers its improving performance in recent years.
The ratings agency also affirmed the banks’ various ratings and assessments, emphasizing the impact of their exposure to Greek government securities on their credit profiles. Overall, this upgrade indicates a positive outlook for the Greek banking sector amidst challenging economic conditions.