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8 Greek Banks Downgraded
Source: Agencies |
September 24, 2011, Saturday
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Print Edition
Print Edition
MOODY'S ratings agency downgraded eight Greek banks by two notches yesterday, due to their exposure to Greek government bonds. It downgraded National Bank of Greece, EFG Eurobank Ergasias, Alpha Bank, Piraeus Bank, Agricultural Bank of Greece and Attica Bank to CAA2 from B3. Emporiki Bank of Greece and General Bank of Greece went to B3 from B1. Moody's said the banks' outlook for long-term deposit and debt ratings was negative.
Shares on the Athens Stock Exchange plunged, with the general price index losing 2.96 percent in morning trading, hovering just above 800 points.
Shares on the Athens Stock Exchange plunged, with the general price index losing 2.96 percent in morning trading, hovering just above 800 points.
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