Romania: Romania: Fitch downgrades long-term ratings of Banca Romaneasca and Bancpost S.A.

February 25, 2010

Romania: Fitch downgrades long-term ratings of Banca Romaneasca and Bancpost S.A.
Feb 25, 2010

Romania: Fitch downgrades long-term ratings of Banca Romaneasca and Bancpost S.A..
Bucharest, Feb 25 /Agerpres/ - Global rating agency Fitch said on Wednesday it has downgraded the Long-term Issuer Default Ratings (IDRs) of the Bulgarian and Romanian units of the National Bank of Greece (NBG) and EFG Eurobank Ergasias.

The Wednesday's rating actions follow Fitch's downgrade on Tuesday of the Long-term and Short-term Issuer Default Ratings (IDRs) of Greece's four-largest commercial banks to 'BBB' from 'BBB+' and to 'F3' from 'F2', respectively, Fitch said in a statement.

Fitch downgraded the long-term IDR of Banca Romaneasca S.A. (owned by National Bank of Greece - NBG) to 'BBB-' from 'BBB', outlook negative; affirmed the short-term IDR at 'F3' and the support rating at '2'.

The negative outlook on the long-term IDR mirrors that of the parent bank. The individual rating of 'D' remains unaffected by Wednesday's rating action.

In the case of Bancpost S.A. (owned by EFG Eurobank), Fitch downgraded the
long-term IDR to 'BBB-' from 'BBB', outlook negative; affirmed the short-term IDR at 'F3' and the support rating at '2'.

The negative outlook on the long-term IDR mirrors that of the parent bank. The individual rating of 'D/E' remains unaffected by the Wednesday's rating action.

In Fitch's rating criteria, a bank's standalone risk is reflected in Fitch's individual ratings and the prospect of external support is reflected in Fitch's support ratings. Collectively these ratings drive Fitch's long- and short-term IDRs.

Greece's main banks are also operating in Romania. The National Bank of Greece (NBG) is a majority shareholder in Banca Romaneasca and EFG Eurobank is controlling Bancpost. Alpha Bank, Piraeus Bank and Ate Bank (former Midbank) are also doing business in Romania. AGERPRES
[Read the article in ]

SEE ALSO IN ROMANIAN NEWSPAPERS

Europe cold snap claims more than 260 lives Death toll from deep freeze rises... a woman looks out of a window covered in frost on a bus in Bucharest, Romania.

PHOTOS: Europe paralyzed by snow, ice Nuns take pictures in the snow covered St. Peter's square at the Vatican, Feb. 4. People used government shovels to clear piazzas and children enjoyed another day off school as Rome awoke to about 10 cm of fresh snow.

Nigel Kennedy to give another concert in Romania this spring British violinist NigelA KennedyA will hold a concert A at Sala Palatului in Bucharest,A Monday, April 2, 2012 starting at 19:00. This is not the artist's first visit to Romania.A Kennedy playedA in Bucharest in 2011A withA the RomanianA pan pipe playerA DamianA Draghici inA a concertA calledA (...)

Romanian song of the week: ‘Insomniac' by C.I.A. feat Ciprian This week’s recommendation is dedicated to people who have trouble sleeping. It’s a hip-hop song called ‘Insomniac’ and is performed by Romanian band C.I.A. The beginning of the song – which,...

Foreigners crowd to learn Romanian in Lisbon Portuguese, Italian, English and Dutch who live in Lisbon recently showed an increasing interest in learning Romanian. The spring semester of the Romanian language courses organized by the Romanian...

Spanish Flamenco legend Angel Muà�oz dances in Romania this spring Spanish Flamenco dancer Angel Muñoz will hold two shows on Romanian soil, on March 13, 2012, at Sala Palatului in Bucharest, and March 14, 2012, at the Banat Philharmonic in Timisoara. Both shows...

Nigel Kennedy to give another concert in Romania this spring British violinist Nigel Kennedy will hold a concert at Sala Palatului in Bucharest, Monday, April 2, 2012 starting at 19:00. This is not the artist’s first visit to Romania. Kennedy played in...