Credit

Japanese ratings agency R&I has upgraded Greece to B- from CC, while retaining a stable outlook.

Rating agency Moody's has increased Portugal's rating to Ba2, in a first such move since the debt-ridden country embarked on a bailout program in 2011.

Recently, the number of citizens' complaints about creditors submitting their personal data to debt collectors has increased.

According to the chairman of Bulgaria's Personal Data Protection Commission (PDPC), Ventsislav Karadzhov, creditors do not have the right to share their customers' personal data with debt collection companies without their knowledge and consent.

Yiannis Vouros, artistic director of the National Theater of Northern Greece, was arrested and subsequently released on Monday over charges of debts to the state.

Vouros, a veteran actor and director, was detained over the company’s unpaid contributions to social security fund IKA, allegedly in excess of 250,000 euros.

Credit agency Standard and Poor’s raised its rating on Cyprus to B from B- on Friday, saying the Mediterranean nation was faring better than expected after last year’s tumultuous international bailout.

Cyprus was meeting terms set out by its foreign lenders and risks to its debt repayments were less, the ratings agency said.

The number of Bulgarians seeking new credits, with bad credit history reached 18% in March, shows data of the company Credit Center. 

The check ups in the National Credit Register showed that the problems vary from unpaid credits or parts of credits to periodical defaults. 

BELGRADE - Standard & Poor's Ratings Services reaffirmed Serbia's long-term local and foreign currency credit rating at “BB-” level with a negative outlook, the National Bank of Serbia (NBS) stated on Friday.

Moreover, Serbia's “B” short-term credit rating was also reaffirmed, the statement reads.

Bulgaria's lawmakers have conclusively adopted the amendments to the Consumer Credit Act which will come into effect three months after their promulgation in the State Gazette.

The regulations will apply only to mortgage agreements signed after the law comes into force, except for the fees, compensations and penalties which can be renegotiated, Bulgarian Dnevnik informs.

Tax Administration announced list of largest debtors yesterday Ten tycoons own 100 million Euros

The first man of the Simpo, Dragan Tomic, the owner of the Farmakom of Sabac Miroslav Bogicevic and the businessman Predrag Rankovic Peconi are the largest tax debtors in Serbia. The debt by the three of them is 69.6 million Euros.

By Christos Ziotis & Nikos Chrysoloras

International investors have started placing money into Greek banks as they anticipate the improving economy will boost profits across the industry, Michalis Sallas, chairman of Piraeus Bank SA, said.