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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
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Fitch takes no rating action as fiscal continuity remains crucial to investment grade
Revenues 705 mln short in June but expenditure above target by 961 mln
Greece’s budget primary surplus widened to 1.88 billion euros in the first half of the year, from 1.51 billion in the 5-month period, and 707 million in the first half of last year, according to the Finance Ministry (MoF) preliminary budget bulletin published on Tuesday.
Although the MoF did not comment on the revenue underperformance in June, our understanding that it reflects the further delay in the collection of the first instalment of the corporate income tax until July 20, with June revenues estimated at 300 milli...
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