S&P: Greek covered and securitised bonds rated investment grade for first time since 2011

EconomyBanking Tags: Ratings
Photo by MacroPolis
Photo by MacroPolis

Rating agency Standard & Poors announced on Friday that it had upgraded bonds issued by Piraeus Bank and the National Bank of Greece (NBG) to “investment grade”. This is the first time since 2011 that Greece’s bonds have returned to investment grade status. The upgrade relates to NBG’s portfolio of covered bonds, which were upgraded to BBB-, and Piraeus Bank’s securitised bonds.

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