Moody’s rating for BOC, bug in Microsoft Explorer
Moody’s issued a first-time rating to Bank of Cyprus, offshore banking units reported a sharp rise in business and Internet users were warned of a bug in the latest version of Microsoft’s Explorer, according to the issue 175, on August 21, 1996.
Moody’s Investor Service issued a first-time rating of ‘C’ financial strength rating to Bank of Cyprus, A2 for long-term deposits and Prime2 for short term, which Group General Manager Yiannis Kypri said was the highest due to the sovereign rating of Cyprus. Moody’s had assigned an A2 rating to Cyprus for bank deposits, which was two notches lower than Standard & Poor’s which assigned an AA- for foreign currency.
the 28 offshore banking units showed a strong rise in activity with an overall balance sheet footing of USD 2.8 bln in May, up from 2.2 bln in April.
Just as individuals and business were getting used to the Internet, Microsoft admitted there was a