Mar 13
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
Three largest Cypriot banks, Bank of Cyprus, Marfin Popular Bank and Hellenic Bank, announced Wednesday they will participate in the in voluntary exchange of Greek Government Bonds Read more
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
Fitch Rating Agency downgraded today Cyprus’ rating by three notches, citing exposure to Greek sovereign debt, while warning that it could downgrade the Cypriot economy even further. Read more
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