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Fitch affirms Bank of Cyprus's covered bonds at 'CCC'

Fitch Ratings announced on Monday it has affirmed the rating of Bank of Cyprus’s 1-billion-euro outstanding residential mortgage covered bonds at CCC.

This follows the upgrade of BoC’s long-term issuer default rating (IDR) to CC from RD (Restricted Default) as a result of the lifting of capital controls in Cyprus.

Fitch has also upgraded Hellenic Bank to CCC from RD. [Reuters]

ekathimerini.com , Monday Jul 7, 2014 (21:54)  
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