Fitch upgrades bonds issued by Eurobank, National Bank

Fitch Ratings upgraded the long-term debt ratings of bonds issued by Eurobank and National Bank – carrying a state guarantee- to B- from CCC. The credit rating agency also upgraded the short-term debt of Eurobank’s bonds (also carrying a state guarantee) to B from C.

This move follows an upgrade of Greece’s long-term credit rating in foreign currency to B- on August 18, 2017. These ratings reflect the expectation that Greece will meet the guarantees offered to bondholders.