Economy

Moody's downgrades ratings of 9 Greek banks



Moody's Investor Services has downgraded its ratings on nine Greek banks as the country's debt crisis takes a toll on their finances.

In a note Friday, Moody's lowered the banks' deposit, debt and financial strength ratings and said the debt and deposit ratines may be downgraded again _ these would come alongside Moody's ongoing review of the country's sovereign debt rating.

On Thursday, the agency confirmed that it is awaiting to see details of an EU-IMF rescue package before a possible revision of Greece's government credit rating, but that a ``multi-notch downgrade'' remained likely.

The banks downgraded include the National Bank of Greece, Alpha Bank and Emporiki Bank.

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Printable version | Apr 9, 2020 1:07:39 AM | https://www.thehindu.com/business/Economy/Moodys-downgrades-ratings-of-9-Greek-banks/article16297426.ece

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