ENA PARA POLI ENDIAFERON KOMMATI APO TO REPORT TON MOODYS GIA THN KYPRO ..DIAVASTE TO ..Moody’s note however that the bank will require significant additional capital in the coming years, owing to the acceleration in asset-quality deterioration following recent events. Although the rating agency considers that the magnitude of Hellenic’s capital needs could potentially be met through private resources, it also adds the possibility that capital resources could be stressed given the expected very challenging environment. That could ultimately necessitate a broader recapitalization, which is reflected in the Caa3 deposit rating. Finally, Moody’s say that upwards rating pressure in the ratings is unlikely, while downward pressure on the banks’ ratings would develop following a failure to implement a bank recapitalisation programme or to maintain external liquidity support. Other factors include, according to the agency, the higher asset-quality deterioration than currently expected, resulting in larger loss rates for bank depositors or creditors and/or Moody’s view that the risk of Cyprus exiting the euro area has increased.
Posted on: Tue, 11 Mar 2014 08:45:55 +0000
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