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Moody’s: The foreclosure protection bill is credit positive for Greece

The revised household insolvency law is credit positive for Greece and its banks according to Moody’s.

Moody’s argues that the new law tightens the eligibility of borrowers to obtain protection from foreclosure. At the same time, it helps to gather data while the automated application procedure provides transparency in addressing non-performing loans.

According to the rating house, the law removes a disagreement with the country’s creditors, which have delayed disbursement of 1 billion euros promised to Greece in return for continued strong reform implementation.

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