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PBO draws attention to effects of climate crisis on public finances
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Moody's ups GGB rating by two notches, on par with S&P and Fitch
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Return to investment grade overshadowed by flood destruction
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Scope Ratings second to give Greece investment grade as attention turns to key players from Sep
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New 15-yr issuance and bond switch smooth maturity profile further, although at steep yield
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Bond re-opening with 4 pct yield completes debt strategy for year
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.
In July, the PDMA issued a 5-year senior floating rate note, only available to the primary dealers that were the four systemic banks, in a rare variable interest rate issue with a coupon of 3M Euribor plus 123 basis points, which at the time was 1.13 pct.
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