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Return to investment grade overshadowed by flood destruction
EconomyThe Greek authorities and particularly the government must have had different plans in response to Friday’s move by DBRS to upgrade Greece’s credit rating to investment grade, a rating that it lost 13 years ago as the debt crisis was unfolding and led to three successive adjustment programmes.
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Scope Ratings second to give Greece investment grade as attention turns to key players from Sep
EconomyAfter the R&I rating agency of Japan, it was Scope Ratings from Germany on Friday that moved Greece up by one notch to ‘BBB-‘, which is within the investment grade category, with a stable outlook, although both of the agencies are not part of the four agencies that the ECB has endorsed for its policy decisions.
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New 15-yr issuance and bond switch smooth maturity profile further, although at steep yield
EconomyMacroeconomyGreece completed on Tuesday its third syndicated transaction of the year with a 3.5 billion euros 15-year bond with a coupon of 4.375 pct.
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Bond re-opening with 4 pct yield completes debt strategy for year
EconomyThe PDMA took another cautious step on Wednesday by completing the debt strategy for the year with a small re-opening of the issuance that matures in January 2042, also rounding up the re-opening schedule for the second quarter.
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Fitch takes no rating action as fiscal continuity remains crucial to investment grade
EconomyMacroeconomyFitch took no action on Friday regarding Greece’s rating, re-affirming the country’s ‘BB+’ and keeping the outlook stable.
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Markets buoyed by election result
EconomyAfter his landslide win on Sunday, Kyriakos Mitsotakis received a vote of confidence from the markets as the election outcome sets the stage for a majority government in the second elections and policy stability and continuity.
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PDMA nears completion of annual debt strategy, taking another cautious step
EconomyGreece’s debt managers have taken the next step in their borrowing strategy for this year by re-opening two bonds on Wednesday that fetched 400 million euros collectively.
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S&P only ups outlook, waits for political clarity before rating move
EconomyS&P left Greece’s rating unchanged at “BB+’, while it upped its outlook to positive from stable, one notch below investment grade.
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Annual debt strategy almost wrapped up with 5-year bond, at 3.92 pct yield
EconomyGreece’s debt managers managed to nearly complete the debt strategy for 2023 before the first quarter has been completed, with the issue of a 5-year bond yesterday that drew 2.5 billion euros with a yield of 3.92 pct.
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Moody's keeps Greece three notches from investment grade, improves outlook on back of growth potential
EconomyAs expected, Moody’s kept Greece’s credit rating at ‘Ba3’ on Friday, while it improved the outlook from stable to positive.