Tags: Fitch | Downgrade | Greek | Banks

Fitch Ratings Agency Downgrades 5 Greek Banks

Friday, 18 May 2012 12:49 PM

Fitch ratings agency has downgraded five Greek banks, a day after giving the crisis-hit nation the lowest possible grade for a country that is not in default.

A Fitch statement Friday says it gave National Bank of Greece, Eurobank, Alpha, Piraeus and Agricultural Bank of Greece a CCC rating, down from B-.

Fitch notes that major Greek banks have not yet received capital injections earmarked for them under the country's latest international bailout.

On Thursday, Fitch downgraded Greece's sovereign rating to CCC.

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Friday, 18 May 2012 12:49 PM
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