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Strong demand for 30-year benchmark bond, yield of 4.24 pct double 2021 rate Greece’s debt managers leveraged the positive sentiment after S&P’s revision of the outlook for Greek Government Bonds (GGB) to positive last Friday and issued a new 30-year bond on Wednesday, the longest maturity since the same issuance in early 2021.
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Economy
S&P ups outlook to positive, leaves rating at 'BBB-' S&P published the latest credit rating review for Greece, where the rating was left unchanged at ‘BBB-‘, while the outlook was upgraded from stable to positive. S&P had granted the investment grade to GGBs in October last year, followed by Fitch in December.
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Economy
Moody's leaves Greece's rating unchanged, one notch from investment grade Despite hopes that on Friday Moody’s would complete the cycle of granting the investment grade for Greece and the country would be rewarded by all rating agencies, it left Greece unchanged at ‘Ba1’, which is one notch below the investment grade, and kept the outlook stable.
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Economy
Investment grade boost visible in strong demand for Greek assets The benefits that were widely anticipated from Greece securing the investment grade have become tangible over the last few months, at least on the demand side for Greek assets, including the sovereign, banks, and state assets.
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Economy
Investment grade rewards evident in first bond issuance of 2024, attracting record demand The benefits of Greece securing the investment grade for its sovereign debt from four rating agencies last year were clearly visible in the first bond issued by the Public Debt Management Agency on Tuesday.
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Economy
PDMA taps markets for first time this year via modest bond reopening Greece’s debt managers have tapped the markets for the first time this year, with the re-opening of a 5-year issue that matures in June 2028, which had an initial issue yield of 3.875 pct.
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Economy
Greece aims to replicate last year's successful debt strategy in 2024 Just before the festive season, the Public Debt Management Agency (PDMA) released the debt strategy for 2024, which summarises the positive developments regarding Greece public debt in 2023 and outlines a modest debt plan for 2024, in line with last year’s successful strategy.
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Economy Fitch rating upgrade seals Greece re-establishing itself as investment grade material The annual credit review cycle for Greece was concluded on Friday with Fitch becoming the latest rating agency to award Greece an investment grade, upping the country’s rating to ‘BBB-‘, while keeping the outlook stable.
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Economy
S&P awards investment grade, bringing arduous cycle for economy to a close S&P became on Friday the first of the three leading rating agencies that restored Greece to investment grade, bringing to a close an arduous period for the country that started at the end of 2009 and was sealed with the signature of the first adjustment programme with the eurozone and the IMF in May 2010.
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Economy
Moody's ups GGB rating by two notches, on par with S&P and Fitch Moody’s upped on Friday night Greece’s credit rating by two notches to ‘Ba1’ with a stable outlook, coming on par with the other two leading rating agencies that had Greece one notch below the investment grade.