FITCH - BANKING SECTOR

Fitch ratings upgraded Alpha Bank’s, NBG’s and Piraeus Bank’s covered bond ratings by one notch (all to ‘BB-‘ from ‘B+’) with Alpha’s and NBG’s ratings having also a ‘possitve’ outlook vs. stable for the rating on Piraeus’ covered bonds. The upgrade follows Fitch’s recent upgrade of the Sovereign and the update of certain of Fitch’s assumption on European RMBS.

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