Greek PM Tsipras Says Bailout Failed; Sees Debt Restructuring, Forgiveness Only Solution to Problems (NBG)

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Moody's Cuts Ratings on Five Greek Banks (NBG); Sees Lower Likelihood of Systemic Support

February 9, 2015 1:53 PM EST

Moody's Investors Service has downgraded the long-term deposit and senior debt ratings of five Greek banks: Piraeus Bank SA (to Caa2 from Caa1), National Bank of Greece SA (to Caa2 from Caa1) (NYSE: NBG), Alpha Bank AE (to Caa2 from Caa1), Eurobank Ergasias SA (to Caa3 from Caa2) and Attica Bank SA (to Caa3 from Caa2). All ratings were placed on review for further downgrade. The rating actions follow Moody's decision to place Greece's Caa1 sovereign rating on review for downgrade on 6 February 2015: https://www.moodys.com/research/--PR_317662 .

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