Moody’s raises Greek covered bonds

Moody's Investors Service said it upgraded the ratings of the covered bonds issued under the covered bond programs of National Bank of Greece SA, Eurobank SA and Alpha Bank SA.

“Today's rating actions on various Greek-covered bond programs follow Moody's increase of the government of Greece's local-currency bond ceiling to A1 from A3, which in turn follows Moody's upgrade of Greece's sovereign rating to Ba1 with a stable outlook from Ba3 on Sept. 15, 2023. As a result, the increase of the ceiling to A1 has led to upgrades for covered bond ratings. Greek-covered bond ratings are capped at Greek local currency bond ceiling,” Moody’s said in a press release.

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