More cuts by the American rating agencies. This time it's up to Moody's, who without so much originality has chosen Greece as a victim. The eight major banks of the Greek country listed on the Stock Exchange, which were placed under analysis on 25 July last, saw their assessment reduced by two points.
The agency justified the decision with the probable increase in losses in the bond portfolios of the institutions, filled with Greek government bonds.
In detail, the National Bank of Greece, Efg Eurobank, Alpha Bank, Piraeus Bank, Greek Agricultural Bank and Attica Bank were downgraded from B3 to Caa2. Downgrade instead from B3 to B1 for Emporiki Bank (subsidiary of Credit Agricole) and Geniki (Societe Generale group). The outlook on both ratings of all eight banks is negative.
