Financial economics
Fitch affirms Bank of Cyprus's covered bonds at 'CCC'
Fitch Ratings announced on Monday it has affirmed the rating of Bank of Cypruss 1-billion-euro outstanding residential mortgage covered bonds at CCC.
This follows the upgrade of BoCs long-term issuer default rating (IDR) to CC from RD (Restricted Default) as a result of the lifting of capital controls in Cyprus.
Fitch has also upgraded Hellenic Bank to CCC from RD. [Reuters]
Ifo’s Sinn urges debt writedown to end southern Europe’s crisis
Birgit Jennen & Rainer Buergin
Southern euro-region countries need debt relief to revive economic growth and creditors should pay the cost, said Hans-Werner Sinn, head of the German-based Ifo economic institute.
HFSF examines plan for banks' swift return to private hands
By Yiannis Papadoyiannis
A large window of opportunity has opened for the faster privatization of the countrys systemic lenders and the states immediate recovery of a significant share of the funds placed in sustainable banks thanks to the exceptionally favorable investment mood regarding Greece on the grounds of its imminent economic rebound.
Fitch Affirms Bulgaria at 'BBB-'; Outlook Stable
Fitch Ratings has affirmed Bulgaria's Long-term foreign currency Issuer Default Rating (IDR) at 'BBB-' and its Long-term local currency IDR at 'BBB'.
The Country Ceiling has been affirmed at 'BBB+' and the Short-term foreign currency IDR at 'F3', according to a media statement of the international credit rating agency published on July 4.
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Greek renewables firm Anemos to launch flotation next week
The renewable energy business of Greece's biggest construction company Ellaktor will next week launch an initial public offering (IPO) of shares on the Athens Stock Exchange, it said on Friday.
The offering by ELTEH Anemos will be the first on the Athens ... ...
Electrica stock exchange trading passes 2.6 M euros, investors making 6-7pct in profits
The small investors in the initial public offering of Romanian power producer Electrica stocks were rushing into selling the shares on Friday, the very first day these have been traded on the Bucharest Stock Exchange, and they have managed gaining profits at 6-7 percent as compared to the price for which they had purchased Electrica shares in the IPO a few days ago.
Local bank stocks regain global appeal
By Yiannis Papadoyiannis
One after another, 13 foreign credit institutions and investment firms have announced their predictions for a rise in the share prices of Greeces systemic banks that averages out at 18 percent above the current levels, reflecting their strong expectations for the country and foreign investors ever-growing willingness to expose themselves to Greek risk.
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Total of 52 Greek retirees receive 8-10 state pensions
A total of 174 retirees currently receive monthly state pensions in excess of 4,000 euros, Labor Minister Yiannis Vroutsis (photo) said on Wednesday in response to a question submitted in Parliament by New Democracy MP Kyriakos Virvidakis.
National to absorb Ethniki Kefalaiou
NBG looks set to boost its assets by 400 mln euros and its capital adequacy ratio by 70 basis points
By Yiannis Papadoyiannis
National Bank of Greece is proceeding with the absorption of its corporate management subsidiary Ethniki Kefalaiou, as Kathimerini understands that the decision has already been approved at all corporate levels and will be immediately enforced.
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Coca-Cola Hellenic to delist from NYSE
Coca-Cola HBC (CCHBC), the worlds No 2 bottler of Coca-Cola Co drinks, plans to delist its shares held in American depositary receipts (ADRs) on the New York Stock Exchange next month, it said on Monday.
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