Moody's Investors Service

The positive outlook for the Cypriot banking system reflects Moody's view that the fast-paced economic expansion will continue, supporting borrowers' repayment capacity, asset values and new lending, Moody's Investors Service said in a report on Tuesday.

Moody’s has taken actions on 17 Turkish banks and nine Turkish companies shortly after its recent decision to downgrade Turkey’s government issuer rating to Ba2 stable from Ba1 negative.

Ratings agency Moody’s has downgraded Turkey’s sovereign ratings to Ba2 from Ba1, citing a continued loss of institutional strength and the increased risk of an external shock given its wide current account deficit.

A world of risks awaits the Greek economy after its emergence from the bailout program in August, according to the main credit rating agencies.

The deterioration of Greece's country risk, recently reflected in the increase in sovereign bond yields after the issue of the seven-year bond on February 9, has also had a negative impact on Greek corporate bonds on the platform of the Athens Exchange.

Greek government bonds are in demand on Thursday, with yields dropping following after Moody's move overnight to upgrade Greece two notches from Caa2 to B3 and maintain its positive outlook. The agency said it believed Greece will return to self-sufficiency and market-based funding.

Moody's ratings agency upgraded Greece's credit rating by two notches late on Wednesday to B3, saying the country is set to return to market-based funding following the conclusion of its current bailout program in the summer.

Greece has hired five banks for a euro bond that could come as early as next week, according to sources.

The sovereign has mandated Barclays, BNP Paribas, Citigroup, JP Morgan and Nomura for the transaction, which is likely to have a seven-year tenor.

Greece is rated Caa2 by Moody's, B by Standard & Poor's and B- by Fitch.

The banks declined to comment.

Rating agency Moody’s has said Turkey’s credit profile balances resilient growth and relatively strong public finances against political risk and external vulnerability.

Moody's downgrades its UK credit rating after Prime Minister Theresa May's speech on the Brexit negotiations. Late yesterday, the international rating agency lowered the long-term rating of the British debt from Aa1 to Aa2 with a stable outlook, world agencies reported. According to Moody's, Brexit creates uncertainty and will severely affect the economy.