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All reports tagged with: "Fitch"

Fitch affirms Cyprus at B+

Fitch Ratings has affirmed the long-term credit rating of Cyprus B+, with a positive outlook, but warned that “banks remain fundamentally weak and pose an ongoing risk to the economy and public finances.”

Fitch upgrades Bank of Cyprus and Hellenic Bank

Ratings agency Fitch has upgraded the Bank of Cyprus and the Hellenic Bank but warned that the island’s biggest lender still faces a high risk of capital erosion because of weakening asset quality and profitability.

Fitch piles more junk on the banks

Following Fitch Ratings downgrade of Cyprus sovereign credit rating on Wednesday, it has pushed the islands top three banks further into junk territory and believes that the failure of the Bank of Cyprus and the Cyprus Popular Bank “is imminent”.

Fitch places three top banks on rating watch negative

International ratings agency Fitch has placed the Island’s top three commercial banks on rating watch negative meaning that they could be downgraded in the near future as they remain highly sensitive to events in Greece.

Fitch downgrades covered bonds of two Cyprus banks

The covered bonds of the Bank of Cyprus and the Marfin Popular Bank have been downgraded by Fitch Ratings following the downgrade of Cyprus’ sovereign rating and the subsequent downgrades of Marfin and BoC’s’ Long-Term Issuer Default Ratings.

Fitch downgrades three Cypriot banks

Fitch Ratings has downgraded three Cypriot banks by one notch saying that finding private capital to cover their capital needs until June will be “difficult”. Fitch downgraded the three banks to BB+ from BBB- with negative outlook.

Cyprus one of five Eurozone nations cut by Fitch

Following its warning a week ago, Fitch cut the sovereign credit ratings of Cyprus and five other Eurozone nations yesterday, indicating there was 50 percent chance of further cuts in the next two years.

Cyprus may be further downgraded by Fitch

Cyprus faces the prospect of a further ratings downgrade by the end of the month after credit ratings agency Fitch repeated its intention to downgrade the Island and five other eurozone countries.

Fitch places Cyprus on rating watch negative

Credit ratings agency Fitch has placed Belgium, Spain, Slovenia, Italy, Ireland and Cyprus on rating watch negative as it believes that a ‘comprehensive solution’ to the Eurozone crisis is technically and politically beyond reach.

Fitch downgrades Cyprus two notches closer to junk

Fitch Ratings agency has cut Cyprus’ long-term local and foreign currency ratings by two notches to within two steps of junk territory, referring to the Island’s increasing budget and debt pressures.

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