Fitch Ratings affirms National Bank’s bond program


Fitch Ratings has affirmed National Bank of Greece’s Covered Bond Program I (NBG I) at B with a positive outlook.

The rating action follows the segregation of 1.2 billion euros of assets for the benefit of the program, performed on November 30.

Fitch also said National’s and Piraeus Bank’s mortgage covered bonds ratings are not affected by the Rating Watch Evolving (RWE) on the banks’ Viability Ratings (VRs).