Moody's downgrades 2 Cypriot banks
The Associated Press
NICOSIA, Cyprus (AP) — Credit ratings agency Moody's has downgraded two of Cyprus' top three commercial banks by one notch over the heightened risk that Greece may leave the eurozone.Moody's said in a statement Tuesday that it has cut the deposit ratings of the Bank of Cyprus and Hellenic bank — the island's first and third largest lenders, respectively — and had placed them on review for further downgrades.
The agency says it has also placed Cyprus Popular Bank — the country second-largest lender — on review for a possible downgrade.
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