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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-` with a negative outlook.According to Fitch, BoC announced on the 18 January 2021 an agreement to sell a portfolio of non-performing exposures (NPE) for a gross amount of about EUR0.5 billion.”The transaction is credit-positive and will provide the bank with additional headroom at this rating level, but it does not ease medium-term pressures sufficiently to stabilise …
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