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Credit rating agency Moody’s on Wednesday upgraded the baseline credit assessment (BCA) and adjusted BCA of Hellenic Bank, shifting its outlook from stable to positive.

Specifically, the agency raised the bank’s BCA from ba1 to baa3, its long-term deposit rating from Baa2 to Baa1, and its senior unsecured debt rating from Ba1 to Baa3.

The decision was based on a combination of factors, including Moody’s expectations that Hellenic Bank will