Fitch cuts Greek banks ratings

Fitch ratings agency has downgraded five Greek banks, a day after giving the crisis-hit nation the lowest possible grade for a country that is not in default. National Bank of Greece, Eurobank, Alpha, Piraeus and Agricultural Bank of Greece have been...

Fitch ratings agency has downgraded five Greek banks, a day after giving the crisis-hit nation the lowest possible grade for a country that is not in default.

National Bank of Greece, Eurobank, Alpha, Piraeus and Agricultural Bank of Greece have been given a CCC rating, down from B-.

Fitch notes that major Greek banks have not yet received capital injections earmarked for them under the country's latest international bailout.

Yesterday, Fitch downgraded Greece's sovereign rating to CCC.

Sign up to our free newsletters

Get the best updates straight to your inbox:

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.