In the case of Bank of Cyprus, deposits were downgraded by one point, as well as unsecured loans from B2 to B1 and its credit rating from b2 to b3. The Bank's ratings were evaluated for a new, possible downgrade. As for Hellenic Bank, its deposits downgraded from Ba3 to B1 and its creditworthiness from b1 to b2. Her ratings were also put under evaluation for another possible downgrade.
Moody's rang the bell again for Laiki Bank, after unsecured loans and deposits, which are in grade B3, were evaluated for downgrade. The Rating House intends to re-evaluate the creditworthiness of the Bank, which is currently in the caa1 category.
As Moody's explains, there is an increased risk that Greece will leave the euro and although this scenario is not ranked first by the House, it considers the possibility of an exit as essential and recognizes that this possibility may increase, depending on Sunday's election result. .
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