Moody's ups GGB rating by two notches, on par with S&P and Fitch
Return to investment grade overshadowed by flood destruction
New 15-yr issuance and bond switch smooth maturity profile further, although at steep yield
Bond re-opening with 4 pct yield completes debt strategy for year
Fitch takes no rating action as fiscal continuity remains crucial to investment grade
Markets buoyed by election result
Scope Ratings second to give Greece investment grade as attention turns to key players from Sep
After the R&I rating agency of Japan, it was Scope Ratings from Germany on Friday that moved Greece up by one notch to ‘BBB-‘, which is within the investment grade category, with a stable outlook, although both of the agencies are not part of the four agencies that the ECB has endorsed for its policy decisions.
For many market participants the two upgrades set the tone of what is to be expected for Greece’s rating reviews during the cycle that is due in the second half of the year.
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