Fitch Ratings upgrades Eurobank’s, National Bank’s state-guaranteed bonds

Fitch Ratings on Friday upgraded Eurobank’s and National Bank’s government-guaranteed debt programmes to “B” from “B-“, following a decision to upgrade Greece’s long-term foreign currency rating to “B” on February 16, 2018.

Eurobank’s and National Bank’s covered bonds are senior unsecured instruments guaranteed by the Greek State and are used “for the enhancement of liquidity of the economy in response to the impact of the international financial crisis”.

The new ratings reflect Fitch’s expectations that Greece will honour the guarantees.