Fitch upgrades mortgage-covered bond programmes of 3 Greek banks

Fitch Ratings announced an upgrade of four Greek mortgage-covered bonds programmes issued by Alpha Bank, National Bank of Greece and Piraeus Bank to ‘B’ from ‘B-‘, as follows:
– Alpha’s covered bonds upgraded to ‘B’ from ‘B-‘; Stable Outlook
– NBG’s covered bonds Programme I (NBG I) upgraded to ‘B’ from ‘B-‘; Outlook Positive
– NBG’s covered bonds Programme II (NBG II) upgraded to ‘B’ from ‘B-‘; Outlook Positive
– Piraeus’s covered bonds upgraded to ‘B’ from ‘B-‘; Outlook Stable
Fitch said the rating actions follow the upgrade of Greece Long-Term Issuer Default Rating (IDR) to ‘B-‘/Positive from ‘CCC’ and the revision of its Country Ceiling to ‘B’ from ‘B-‘ on August 18. –amna.gr