In a new move from Moody's Investors Service the rating agency raised the heat on Greece by lowering the rating of eight banks citing the struggling economy and the drop in deposits as part of the reasons for the move and not forgetting their high exposure to Greek debt.

Moody's decision concludes the review that started on July 25 as they cut the long-term deposit and senior debt rating of the eight banks by two levels and gave a negative outlook.

The agency lowered the rating for National Bank of Greece, EFG Eurobank Ergasias, Alpha Bank, Piraeus Bank, Agricultural Bank of Greece and Attica Bank to Caa2 from B3; while they downgraded Emporiki Bank of Greece and General Bank of Greece to B3 from B1.