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Moody's Affirms Bank Of Cyprus' And Hellenic Bank's Deposit Ratings At B3
November 11, 2020
Moody's Investors Service has today affirmed all ratings and assessments of Bank of Cyprus Public Company Limited (Bank of Cyprus) and Hellenic Bank Public Company Ltd (Hellenic Bank), including their long-term deposit ratings of B3. The outlook on both banks' long-term deposit ratings remains positive.
According to a statement, the affirmation of the banks' ratings reflects their improved funding and liquidity profiles, and strengthened capital levels compared to a few years ago, counterbalanced by the downside risks stemming from the negative effects of the Coronavirus on the Cypriot economy.