While the recovering economy is supporting loan recoveries and depositor confidence, Bank of Cyprus' and Hellenic Bank's extremely weak loan quality will only gradually improve in 2016, Moody's Investors Service said in a report published on Tuesday.
Moody’s has evaluated the Bank of Cyprus’ and Hellenic Bank’s loans at Caa3 stable and Caa2 stable, respectively, with their baseline credit assessments set at Caa3.
