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Fitch Ratings has affirmed Bank of Cyprus Public Company Limited`s (BoC) Long-Term Issuer Default Rating (IDR) at `B-` and Viability Rating (VR) at `b-` and removed them from Rating Watch Negative (RWN).The Outlook on the IDR is Negative.According to Fitch, the affirmation reflects its updated view that BoC`s ratings are not immediately at risk from the impact of the economic downturn from the pandemic as the announced sale of non-performing exposure (NPE) provides the bank with additional headroom at this …
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