ECONOMY

S&P, Fitch issue warnings on Greek bank ratings

Ratings agencies Fitch and Standard & Poor’s on Tuesday warned on the long-term ratings of four Greek banks as uncertainty surrounds Greece getting financial support from the European Central Bank.

Fitch placed the long-term ratings of Alpha Bank, Eurobank, National and Piraeus on negative watch.

S&P maintained its CreditWatch negative warning on the four banks, meaning that they could be lowered again.

“The CreditWatch status reflects the possibility that we could downgrade the four banks if we anticipate the European authorities’ and the ECB’s support for Greek banks will no longer be available,” S&P said.

Moody’s on Monday also downgraded its ratings on the four banks as well as Attica Bank.

[Reuters]