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Four Greek Banks Receive Higher Fitch Rating

Four of Greece's leading banks have received a higher ranking, concerning their mortgage-covered bonds, by Fitch Ratings.

National Bank of Greece, Piraeus Bank, Alpha Bank and Eurobank Ergasias have all been granted a B-/Stable/B with a b- viability score, along with a stable outlook, according to reports.

The financial institution's higher grade comes after the Bank Recovery and Resolution Directive (BRRD) that was released by the Official Journal of the European Union on June 12th, as reported by Kathimerini.

Additionally, Greek structured finance transactions and residential mortgage loan credits have received a 'BB' score that was previously set at 'B', according to Reuters.