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Fitch leaves rating and outlook unchanged, underlines fiscal performance key to higher grade
EconomyFitch affirmed on Friday Greece’s ‘BB’ credit rating and kept the outlook positive, remaining one notch behind S&P and two notches from investment grade.
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Rising bond yields a concern, but not an immediate fiscal problem
EconomyGreece’s rising bond yields have begun attracting attention domestically and internationally as the low-yield environment becomes a thing of the past. Although these developments are justifiably causing some concern, they should not at this stage be the cause of excessive anxiety, especially in the fiscal context.
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Reopening of 7-year bond affirms tougher conditions on sovereign debt market
EconomyAmid the uncertain times of the Ukraine conflict and the inflationary pressures globally, but after Greece’s upgrade by S&P last week to one notch from investment grade and the recent prepayment of IMF loans by the government, the PDMA saw a window of opportunity to dip back into the bond market.
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S&P moves Greece closer to investment grade, puts focus on budget and growth
EconomyS&P on Friday night upgraded Greece’s credit rating by one notch to ‘BB+’, while the outlook was revised from positive to stable. Greece is now just one notch away from securing an investment grade with S&P.
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DBRS moves Greece a notch closer to investment grade as Moody's holds off
EconomyThe Greek authorities anticipated two credit rating upgrades on Friday but had to settle for one as DBRS upped the country’s rating by one notch and just one step away from investment grade. The outlook was also revised from positive to stable.
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Hopes of EU providing immediate relief wane as economic challenges multiply
PoliticsGreek PoliticsThe first day of the EU leaders’ summit in Versailles on Thursday did not produce particularly encouraging developments for the Greek government, which is hoping that Europe will step in to provide solutions on the fiscal front as the energy crisis and runaway inflation fuel political concern.
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Rising yields, market turbulence limit government's fiscal options
EconomyIt seems that the Finance Ministry toying with the idea of countering inflation by reducing VAT and special consumption taxes on fuel and basic goods only lasted about a week, partly due to developments on the bond market, which have been exacerbated by the ECB signalling last Thursday that it is set to tighten monetary policy this year.
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First bond of 2022 attracts fewer offers, more than double last year's yield at 1.83 pct
EconomyGreece stepped into the international markets on Wednesday with an inaugural 10-year benchmark, rolling out its 12-billion-euro debt strategy of 2022.
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Fitch improves outlook to positive, sees investment grade hinging on fiscal performance and banks
EconomyFitch got the schedule of rating reviews in the new year underway with an upgrade of Greece’s outlook to positive from stable, while it reaffirmed the rating at ‘BB’.
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PDMA's debt strategy for 2022 includes green bond in 12 bln haul
EconomyGreece’s debt managers (PDMA) published last week the debt strategy for next year, which will include an inaugural green bond in the second half of 2022.