Capital Intelligence (CI), the international credit rating agency, has announced that it has revised Bank of Cyprus’ (BoC) Financial Strength Rating (FSR) Outlook to ‘Positive’ from ‘Stable’ to reflect the Bank’s improved funding profile due to strong growth in customer deposits and the significant reduction in ELA, as well as the increase in loss reserve coverage to a much better level.
BoC’s Foreign Currency Ratings Affirmed at ‘B’
