Moody’s Investors Service changed Greek banks’ outlook to positive from stable.
In a report, the credit rating agency said that its decision reflected mainly expectations for a further improvement in reducing the high levels of non-performing loans, as banks sell off legacy problem loans and move on with securitizations, combined with expectations for a gradual strengthening of Greek banks’ profits (core earnings).
The outlook reflects Moody’s assessment of the basic credit conditions that will affect Greek banks’ credit rating in the next 12-18 months.
Original Story: The National Herald| Author: Athens News Agency
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Edition: Prime Yield