Moody’s Investors Service today upgraded the long-term deposit ratings of the National Bank of Greece and Eurobank SA. to Ba3 from B2, of Alpha Bank SA to B1 from B2 and of Piraeus Bank SA. το B2 from B3. The outlook for deposit ratings for all four banks remains positive.

The upward trend in real estate prices in Greece will continue - at a moderate pace - in the next 12-18 months, Moody's estimates.

Moody's upgraded Greek banks on Tuesday, days after providing a "vote of confidence" for the Greek economy. Specifically, Moody's upgraded the long-term deposit rating for National Bank of Greece, Alpha Bank and Eurobank Ergasias, to Caa1 to Caa2, while re-affirming its rating for Piraeus Bank and non-systemic Pan-Cretan Cooperative Bank, at Caa2.
Additionally, Moody's retained its long-term rating for non-systemic Attica Bank, at Caa3.