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Moody`s has described as a credit positive the fact that Cyprus` Central Bank Governor expects that two largest banks on the island to sell a significant portion of problem loans.Moody`s says that on January 20, Central Bank of Cyprus Governor Constantinos Herodotou told the parliamentary committee on financial affairs that “Bank of Cyprus Public Company Limited (B3 positive, caa11) and Hellenic Bank Public Company Ltd. (B3 positive, caa1) are actively pursuing sales of €4 billion of problem loans.”The banks, which …
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