Fitch Ratings upgrades short-term assessments for Bank of Cyprus and Eurobank

On November 14, 2026, the international credit rating agency Fitch Ratings announced an upgrade to the short-term issuer default ratings of the Bank of Cyprus and Eurobank. The ratings for both financial institutions were raised to F2 from their previous level of F3.

While the short-term outlook improved, Fitch Ratings decided to maintain the long-term issuer default ratings for both banks at BBB, with the outlook remaining stable. This adjustment reflects the agency's assessment of the current financial standing and liquidity profiles of the two institutions.

The decision serves as a formal update on the creditworthiness of the banks within the Cypriot banking sector. The institutions continue to operate under the previously established long-term ratings, which suggests a sustained and stable outlook according to the agency's current evaluation criteria.