High participation rate helps bond swap tick box
Greece continues debt management with swap of bonds worth 30 bln
Retail sales continue their rise in July as consumer confidence improves
Rating agencies concur in improved prospects for Greece
Fitch upgrades Greek rating to B-, sees debt sustainability improving
Greece completes first bond issue in three years, eyes more on way out of programme
Delays in concluding programme review are credit negative for Greece, says Moody’s
In its latest comment on Greece included in the weekly credit outlook of May 2, Moody’s notes that the delays in the country’s bailout programme review are credit negative since they increase the risk of a liquidity squeeze and prevent any discussion on debt relief.
The delays are caused by tensions between Greece and its lenders, notably the European Commission and the IMF, and weigh on economic confidence, according to the rating agency.
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