Fitch Ratings has revised the outlook on Bank of Cyprus' long-term issuer default rating to positive from stable after its deal to offload mortgage-related toxic loans. Fitch has also affirmed the bank's long-term IDR at B- and viability rating at b-, following BoC's agreement of securitising a portfolio of 2.8 billion of gross loans, including 2.7 billion of non-performing loans , equivalent to about a third of the bank`s total NPLs.
