Fitch Affirms 4 Greek Covered Bond Programmes; Outlook Negative

April 2, 2015 3:28 PM

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(The following statement was released by the rating agency) MILAN/LONDON, April 02 (Fitch) Fitch Ratings has affirmed the 'B-' ratings on four Greek bank covered bond programmes and removed them from Rating Watch Negative (RWN).

The covered bonds are issued by Alpha Bank AE (Alpha, CCC/C, Viability Rating (VR): ccc), National Bank of Greece S.A. (NBG, CCC/C; VR: ccc), which has Programme I and Programme II, and Piraeus Bank S.A. (Piraeus, CCC/C, VR: ccc). The Outlook on all four programmes is Negative. The rating action fol...

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