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All reports tagged with: "bank of Cyprus"

Two Cypriot banks downgraded by Moody’s

Moody’s Investor Services had downgraded the Bank of Cyprus and the Hellenic Bank and has rated them and the Cyprus Popular Bank on review for downgrade as a result of their extensive operations in Greece.

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.

Moody’s downgrades three Cyprus banks again

Despite their efforts to raise fresh funds, Moody’s Investor Service has downgraded the three leading Cyprus bank ratings following Tuesday’s cut to ‘junk’ of the Cyprus sovereign ratings.

Bank of Cyprus takes a €1 billion hit on Greek debt

The Bank of Cyprus, the Island’s largest lender, posted a net loss of 1.01 billion Euros in its 2011 results on Tuesday after making a writedown totalling 1.32 billion Euros on its Greek sovereign debt holdings.

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.

Moody’s downgrades Marfin Bank covered bonds

Ratings agency Moody’s Investor Services has downgraded Marfin Popular Bank covered bonds and put the Bank of Cyprus covered bonds on review for downgrade. The actions follow Moody’s downgrade of Cyprus’ sovereign debt rating last week.

Cyprus’ top three banks downgraded by Moody’s

Moody’s Investors Services has downgraded the long-term deposit and debt ratings of the three largest Cypriot banks because of what it believes is the reduced ability of the country to support its large banking system.

Banks could face 1 billion Euro hit

Cypriot banks could take a hit of more than 1 billion Euros to shoulder their Greek bailout obligations, forcing them to raise capital and potentially deepening concerns over the Island’s own sovereign debt.

Moody’s downgrades Marfin and Bank of Cyprus

In the wake of yesterday’s announcement that Moody’s had downgraded Government bond ratings, the ratings agency has downgraded the deposit and debt ratings of the Marfin Popular Bank and the Bank of Cyprus.

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