Rating of Piraeus bank raised to A-

One of the world's leading rating appraisal agencies - "Fitch ratings" - has raised the rating of Greek Piraeus bank in the category of long-term emitents from BBB+ to A-, while all other categories are confirmed.

Among the confirmed categories are short-term emitent, individuality in business, potential support to the bank, as well as probability of support.

Based on this significant improvement, prognosis for general rating in the category of long-term emitent has been corrected from stable into positive.

Raising of rating of Piraeus bank is confirmed by the increase in basic capital, excellent framework for risk management and better indicators of quality of assets. Greek Piraeus bank has achieved this positive rating thanks to good market positions, successful strategy development, stable profitability and secure solvency.