trending Market Intelligence /marketintelligence/en/news-insights/trending/grMdM7ha8yOj7Rt1KLQVdg2 content esgSubNav
In This List

Fitch upgrades ratings of Eurobank

Blog

The evolving world of central bank digital currencies

Blog

Insight Weekly: US stock market downturn; Chinese bank earnings; Europe's big tech bills

Blog

Expand Your Perspective Uncover Insights on Key Markets with Differentiated Data

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds


Fitch upgrades ratings of Eurobank

Fitch Ratings on May 28 upgraded Eurobank Ergasias SA's long-term issuer default rating to CCC+ from CCC and viability rating to "ccc+" from "ccc," with a positive outlook on the long-term issuer default rating.

The rating agency also affirmed the short-term issuer default rating at C, support rating at 5 and support rating floor at No Floor.

The ratings upgrade followed the lender's recent accelerated reduction of its nonperforming exposures and reflects Eurobank's improved funding and liquidity profile, Fitch said.

Fitch said the positive outlook reflects its expectations that the lender's asset quality should improve substantially over the next 12 to 24 months, which will ultimately boost the operating profitability and ease pressure on capital.