On November 3, 2023, international rating agency Fitch announced that they upgraded the credit ratings of Hellenic Bank Public Company Limited and Bank of Cyprus Public Company Limited. Accordingly, Hellenic
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Fitch Rating Agency confirmed Cyprus’s Long-Term Foreign-Currency Issuer Default Rating (“IDR”) at ‘BBB-‘ with a Stable Outlook. According to Fitch one of the key rating drivers is that the COVID-19
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