Moody's upgrades Greek rating by two notches to Caa1 - here's why

Economy Tags: Ratings

Moody’s upgraded Greece’s government bond rating by two notches on Friday, raising it to Caa1 from Caa3, where it had been placed on November 29, 2013. The outlook on the rating is stable.

This is Greece’s second rating upgrade, following that Fitch’s decision to increase it by one notch on May 23. Moody’s had postponed its previous rating action on Greece, which was due on April 4, but upgraded Greek banks’ outlook to stable from negativ...

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