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All reports tagged with: "fitch ratings"

Fitch upgrades Cyprus to ‘BB-‘

Fitch Ratings has upgraded Cyprus by one notch from ‘B+’ to ‘BB-’ with a positive outlook on continuing strong progress in its adjustment following the 2013 banking crisis but warns that banks remain weak due to the high level of NPLs.

Standard & Poors & Fitch lifts ratings

Standard & Poors lifted its rating on Cyprus to B, while Fitch revised its outlook on the country to ‘stable’ saying that the economy “has proved more resilient than previously expected”.

Fitch downgrades Cypriot covered bonds

Following yesterday’s storming of the Bank of Cyprus by angry investors who claim they were mis-sold high-yield bonds, Fitch Ratings has downgraded the covered bonds of the Bank of Cyprus and the Cyprus Popular Bank.

Fitch cuts Cyprus sovereign credit rating to ‘B’

Ratings agency Fitch has downgraded the Republic of Cyprus’ sovereign credit rating two notches on its belief that it may cost the government more to bailout the island’s banking sector than previously anticipated.

Fitch downgrades Cypriot covered bonds

Following its downgrade of three of the island’s banks last Friday, ratings agency Fitch has today downgraded the Bank of Cyprus and the Cyprus Popular Bank’s covered bond ratings.

Two notch downgrade from Fitch

Credit ratings agency Fitch has cut the island’s credit rating by two notches with the possibility of a further downgrade citing a fiscal budget that has significantly underperformed expectations.

Fitch downgrades Island’s top three banks

Following Fitch Rating’s downgrading of the Island’s credit rating to junk on Monday, Fitch downgraded the Island’s top three banks – the Bank of Cyprus, the Cyprus Popular Bank and the Hellenic Bank earlier today.

Fitch cuts Cyprus credit rating to junk

Credit ratings agency Fitch downgraded the Island’s credit rating to “junk” status earlier today due to the amount of rescue money needed to bail out its banks, which are heavily exposed to the Greek economy.

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