ECONOMY

Moody’s says scheme for NPEs is ‘credit positive’

moody-s-says-scheme-for-npes-is-credit-positive

International rating agency Moody’s has qualified as “credit positive” for the securitization of nonperforming exposures Greece’s new framework for the protection of the primary residence of borrowers.

Moody’s argued that the new framework will create a more rational and transparent procedure for tackling NPEs, as it reduces strategic defaulters, bureaucracy and court procedures, while introducing a system that will shorten repossession timeframes.