Limassol, September 23, 2011 — Moody’s Investors Service today downgraded the long-term deposit and senior debt ratings of eight rated Greek banks by two notches. National Bank of Greece SA (NBG), EFG Eurobank Ergasias SA (Eurobank), Alpha Bank AE (Alpha), Piraeus Bank SA (Piraeus), Agricultural Bank of Greece (ATE) and Attica Bank SA downgraded to Caa2 from B3. Emporiki Bank of Greece (Emporiki) and General Bank of Greece (Geniki) downgraded to B3 from B1. All of the banks’ long-term deposit and debt ratings carry a negative outlook.
Today’s rating actions conclude the review for possible downgrade Moody’s initiated on 25 July 2011. The full list of affected ratings may be found at the end of this press release.
Moody’s downgrades the ratings of Greek banks, concluding review initiated 25 July 2011