Fitch

Economy Minister Nihat Zeybekci has lashed out at ratings agency Fitch over its statement warning of the continuation of political risks in Turkey following Recep Tayyip Erdoğan’s presidential election win, only days after targeting its fellow agency Moody’s.

Fitch Ratings announced on Monday it has affirmed the rating of Bank of Cyprus’s 1-billion-euro outstanding residential mortgage covered bonds at CCC.

This follows the upgrade of BoC’s long-term issuer default rating (IDR) to CC from RD (Restricted Default) as a result of the lifting of capital controls in Cyprus.

Fitch has also upgraded Hellenic Bank to CCC from RD. [Reuters]

Fitch Ratings has affirmed Bulgaria's Long-term foreign currency Issuer Default Rating (IDR) at 'BBB-' and its Long-term local currency IDR at 'BBB'.

The Country Ceiling has been affirmed at 'BBB+' and the Short-term foreign currency IDR at 'F3', according to a media statement of the international credit rating agency published on July 4.

Fitch Ratings has upgraded the state-guaranteed long-term senior debt rating of National Bank of Greece (NBG, B-/Stable), Alpha Bank (Alpha, B-/Stable) and Eurobank Ergasias (Eurobank, B-/Stable) to 'B' from 'B-'.

The rating actions follow the upgrade of Greece's sovereign Long-Term foreign currency Issuer Default Rating (IDR). [Reuters]

Fitch Ratings on Monday announced it has affirmed United Bulgarian Bank AD’s (UBB) rating (IDR) at B, with the outlook revised to stable from negative.

UBB’s rating is one notch above that for its parent National Bank of Greece, which is B-.

[Reuters]

 Greece rises from B- to B with a stable outlook, thanks to primary surplus and increased cash flexibility

Fitch Ratings upgraded Greece one notch from B- to B, with a stable outlook, on Friday, stressing that the fiscal streamlining, as confirmed by its primary surplus in 2013 – which is set to grow bigger this year – will allow the country to enjoy more funding flexibility.

Fitch ratings agency has upgraded Greece's sovereign debt rating by one notch, citing the country's improved deficit figures.

Although still deep in junk status, Friday's upgrade on Greek bonds, from B- to B, was a boost for the country that has been struggling through a devastating financial crisis for the past four years.

Fitch Ratings announced on Tuesday it has affirmed the long-term issuer default ratings of National Bank of Greece, Piraeus Bank, Alpha Bank and Eurobank at B- with stable outlooks.

[Reuters]

Fitch Ratings on Friday affirmed Intralot’s Long-Term Issuer Default Rating (IDR) at B+, but revised the outlook to Negative from Stable.

[Reuters]

Fitch Ratings announced late on Tuesday it has revised the outlooks on four Greek covered bond programs to Positive and another to Stable.

The ratings of the five covered bonds programs have also been affirmed.

At the same time, the agency is maintaining the rating of one Cypriot covered bond program on Rating Watch Negative.

[Reuters]