National Bank of Greece Falls as Much as 5.7% on S&P Rating Move

National Bank of Greece SA (ETE), the country’s biggest lender, fell as much as 5.7 percent after Standard & Poor’s cut the rating on Greece’s sovereign debt to B from BB- and said that may hurt the creditworthiness of the country’s four biggest banks.

National lost 4.9 percent at 3:33 p.m. in Athens, with the Athens benchmark general index down 1.9 percent to 1,344.16. EFG Eurobank Ergasias SA, the second biggest bank, declined 3.3 percent to 3.19 euros.

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