22 Sep 2026
Moody’s upgrades outlook on NBG’s deposit ratings to positive
- RE+D Magazine
Moody’s has upgraded the outlook on the long-term deposit ratings of National Bank of Greece (NBG) to positive from stable, while affirming the bank’s rating at Baa1.
At the same time, the U.S. rating agency affirmed the ratings on National Bank of Greece’s senior unsecured debt at Baa1, while changing the outlook to stable from negative.
Moody’s also affirmed the bank’s Baseline Credit Assessment (BCA) and adjusted BCA at baa3.
The rating actions follow Moody’s decision last Friday to revise the outlook on Greece’s Baa3 sovereign rating to positive from stable.
In its announcement, Moody’s said that the affirmation of National Bank of Greece’s long-term deposit and senior unsecured debt ratings at Baa1 “reflects the affirmation of the baa3 BCA, our unchanged assumption of a very low level of credit losses at the bank, which provides two notches of rating uplift, and our unchanged assumption of a low probability of government support, which does not result in any additional rating uplift.”
The agency also noted that the affirmation of the BCA and adjusted BCA at baa3 reflects the bank’s strong recurring profitability, robust capitalization, favorable asset quality, and strong liquidity profile.
The recent change in the outlook on Greece’s sovereign rating to positive from stable “creates upward momentum for the bank’s BCA, while its sustained strong financial performance continues to support its credit profile,” Moody’s said.