S&P raises core Greek banks’ ratings, with a stable outlook

Economy Tags: Banking, Ratings

Standard & Poor’s raised on Tuesday evening the four core Greek banks’ ratings to ‘CCC+/C’ from ‘SD,’ with a stable outlook, in the wake of capital controls being relaxed.

The ratings agency notes that the most important easing measure concerns new cash deposits that can be withdrawn without any restrictions and could allow for cash deposits to be brought back into the banking system. However, it expects only some minor d...

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