The international rating agency Moody''s Investors Service published, on 24 April 2007, the revised ratings of the Cypriot Banks.
The most important rating upgrade is for Bank of Cyprus with the Foreign Currency Deposit Rating upgraded by two notches to A2 from Baa1.
Bank of Cyprus ranks first among the Cypriot banks as per the rating upgrades. The results of the evaluations for Bank of Cyprus published by Moody''s are the following:
- Upgrade of Foreign Currency Deposit Rating to A2/P-1 (from Baa1/P-2)
- Upgrade of Bank Financial Strength Rating to C- (from D+)