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Greece moves step closer to investment grade as Fitch ups rating by one notch to 'BB+' Fitch became on Friday the latest rating agency to place Greece one step away from investment grade, after upgrading its sovereign credit rating to ‘BB+’ from ‘BB’. The outlook is stable.
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EconomyMacroeconomy
Inaugural 2023 bond attracts strong demand and steep interest Greece had its inaugural bond issue for 2023 on Tuesday with a 10-year benchmark that covered half of the country’s debt strategy for the year thanks to the high demand.
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EconomyMacroeconomy
PDMA sets out modest debt strategy for 2023 Greece’s debt managers published on Friday the debt strategy for 2023, when Greece is expected to follow the same cautious approach as this year.
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Economy
Re-opening of benchmark bond fetches 200 mln at steep yield of 4.44 pct The moderate movements of Greece’s debt managers to navigate through the sovereign debt turbulence continued on Monday with the re-opening of the 10-year benchmark that was initially issued in January.
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EconomyMacroeconomy
In another cautious move, PDMA fetches 975 mln for 5 yrs at variable rate The cautious steps, which the Public Debt Management Agency (PDMA) has been taking since the summer as it attempts to navigate through a higher rates environment that have pushed up the entire yield curve, continued on Tuesday via the re-opening of a 5-year issuance.
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Economy
S&P leaves Greece a notch away from investment grade as outlook blurs The rating cycle for Greece for 2022 was completed on Friday, with the S&P leaving the rating unchanged at ‘BB+’ and the outlook stable.
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Economy
Fitch leaves rating unchanged at 'BB', sees small recession and primary deficit next year Fitch published its latest credit rating review on Friday, essentially affirming the consensus that has been building up in the markets during the recent months, that the prospect of the investment grade is being pushed out to 2023.
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Economy
Yields rise, but Greek debt still partly shielded from market headwinds In a global environment of rising sovereign bond yields as key central banks fight inflation with aggressive policy tightening, Greece is facing challenges not because it is a special case, but because the landscape appears to have shifted for the medium-term.
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Economy
Moody's, DBRS keep ratings unchanged, leave no doubt that fiscal prudence is key for next moves Moody’s and DBRS issued on Friday night their scheduled credit reviews for Greece, both leaving the rating and outlook unchanged. This was the most likely outcome given the global challenges and the uncertain times on several fronts.
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Economy
Reopening of 10-year bond issued in Jan sees yield double to 3.67 pct Greece’s debt managers continue to take cautious steps in the sovereign bond market after having to readjust their borrowing strategy following the uncertainty caused by the Ukraine conflict and the turbulence in the markets, which pushed the 10-year benchmark yield to 4.8 pct at the end of last month.