Credit rating agency
Cyprus’ DBRS outlook turns into ‘Positive’
Morningstar DBRS announced last Friday it has affirmed the credit rating of the Republic of Cyprus at BBB (high) and raised its outlook from "Stable" to "Positive."
The Canadian-based rating agency explained that the rating reflects the view that "public debt metrics are likely to continue to improve."
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Moody’s upgrades Eurobank’s, National’s outlook
Credit ratings agency Moody's changed Eurobank's and National Bank's outlook for their Baa2 senior unsecured debt and long-term deposit ratings to positive from stable, "following the outlook change to positive from stable in the Government of Greece's Ba1 issuer rating."
Moody's is the only one among major credit ratings agencies that has not given Greece's debt an investment grade.
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Fitch Forecasts Extended Losses for ECB and EU Central Banks
According to Fitch Ratings, the European Central Bank (ECB) and central banks across the European Union are expected to endure "prolonged losses" due to increased borrowing costs. The credit agency projects that the total loss for the Eurosystem will amount to 160 billion euros from 2024 to 2028, before accounting for provisions, reserves, and taxes.
DBRS raises Greece’s outlook to ‘Positive’
Morningstar DBRS raised on Friday night its outlook of the Greek economy from Stable to Positive, while affirming the country's credit rating as BBB (low), i.e. investment grade.
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Fitch upgrades Türkiye's credit rating to BB- on improved financial outlook
Credit rating agency Fitch upgraded Türkiye's Long-Term Foreign-Currency Issuer Default Rating (IDR) from B+ to BB- on Friday.
Greece’s big four banks report €2.3 Billion in first-half profits, reduced bad loan exposure
Greece's "big four" banks (Alpha, Eurobank, National and Piraeus) posted first-half profits totaling €2.3 billion and significantly reduced exposure to bad loans, while also containing operating costs, ratings agency DBRS has noted.
Despite some of them (like Alpha) resuming dividend payments after many years, capital reserves have strengthened, the agency notes.
Political Instability Delays Bulgaria's Eurozone Entry, Says Rating Agency
Political instability is hindering Bulgaria's progress toward joining the Eurozone, according to an analysis by the rating agency Scope Ratings. The Berlin-based agency has maintained Bulgaria's credit rating at BBB+ with a positive outlook in both local and foreign currency.
Thorny deficit hurts credit
Credit rating agencies agree that Greece's credit account deficit prevents the country from achieving an even more improved debt rating.
The country spent 14 years with a junk rating on its debt before achieving the highly sought investment-grade rating. But recent data published by the Bank of Greece concerning the first five months of the year raise concerns from analysts.
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Outlook upgrade makes foreign cash inflow rise
The Greek economy saw an inflow of 5 billion euros for Greek shares and bonds as a result of the credit rating outlook upgrade of the Greek economy, a report in the Bank of Greece Economic Bulletin said on Wednesday.
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Scope Ratings raises Greece’s outlook to ‘Positive’
German rating agency Scope Ratings affirmed on Friday Greece's BBB- rating, while upgrading the Greek economy's outlook to positive.