Greek Banks downgrade byFitch

Fitch has downgraded the creditworthiness of four Greek banks. The rating house Fitch downgraded today the long-term creditworthiness of four Greek banks to CCC from B-, after last week's downgrade of the long-term creditworthiness of the country, also to CCC. The agency justified its downgrade citing the weaker economic outlook in Greece, which exposes the assets and solvency of banks to more risks. Fitch downgraded the long-term solvency of the National Bank, The Bank of Piraeus, EFG Eurobank and Alpha Bank.



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