This analysis will focus on the impact these changes could have on the loss-given failure of each instrument across the liability structure. Furthermore, Moody's highlighted two main factors that could lead to an upgrade, including the sustained improvement in Hellenic Bank's profitability and asset quality, and a high likelihood of parental support from Eurobank S.A. Additionally, an increase in the volume of junior instruments issued by the bank, enhancing the protection for deposits and various debt classes, could also prompt an upgrade. Conversely, Moody's indicated that a downgrade is unlikely during the review period.