Moody's withdraws General Bank of Greece's Caa2/NP/E ratings

Stocks and Financial Services Press Releases Monday June 11, 2012 09:33
Limassol--11 Jun--Moody's

Limassol, June 11, 2012 -- Moody's Investors Service has today withdrawn General Bank of Greece SA's (Geniki) E standalone bank financial strength rating (BFSR), which maps to a caa3 baseline credit assessment (BCA), and the Caa2 long-term and Not-Prime short-term local-currency and foreign-currency deposit ratings. At the time of the withdrawals, the long-term deposit ratings had a negative outlook and the BFSR had a stable outlook.

RATINGS RATIONALE
Moody's has withdrawn the ratings for its own business reasons. Please refer to Moody's Investors Service's Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.

Headquartered in Athens, Greece, Geniki reported consolidated total assets of €3.3 billion as of December 2011, and is majority (99%) owned by Societe Generale (A1 deposit rating, on review for downgrade; C- BFSR/baa1 BCA).

REGULATORY DISCLOSURES

This rated entity or its agent(s) did not participate in the rating process. Moody's was not provided, for purposes of the rating, access to the books, records and other relevant internal documents of the rated entity.

The rating has been disclosed to the rated entity or its designated agent(s) and issued with no amendment resulting from that disclosure.

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Please see the ratings disclosure page on www.moodys.com for general disclosure on potential conflicts of interests.

Please see the ratings disclosure page on www.moodys.com for information on (A) MCO's major shareholders (above 5%) and for (B) further information regarding certain affiliations that may exist between directors of MCO and rated entities as well as (C) the names of entities that hold ratings from MIS that have also publicly reported to the SEC an ownership interest in MCO of more than 5%. A member of the board of directors of this rated entity may also be a member of the board of directors of a shareholder of Moody's Corporation; however, Moody's has not independently verified this matter.

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