Moody’s Investors Service downgraded Tuesday (13/03/2012) Cyprus’ government bond ratings by one notch to Ba1 from Baa3, assigning a negative outlook to the ratings, citing increased risk for the government to provide financial aid to Cypriot banks due to their exposure to Greek bonds and the Greek economy. Read more
Posts tagged ‘downgrade’
Credit ratings agency Fitch has downgraded Cyprus’ top three commercial banks by a notch each to junk status.
Fitch said Thursday’s downgrade of the Bank of Cyprus, Marfin Popular Bank and Hellenic Bank from BBB- to BB+ is in line with a one-notch cut to Cyprus’ sovereign rating last week to just above junk status. Read more