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Limassol, June 11, 2012 -- Moody's Investors Service has today withdrawn General Bank of Greece SA's (Geniki) E standalone bank financial strength rating (BFSR), which maps to a caa3 baseline credit assessment (BCA), and the Caa2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Moody's has withdrawn the ratings for its own business reasons.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).

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