Moody's ups GGB rating by two notches, on par with S&P and Fitch
Return to investment grade overshadowed by flood destruction
Scope Ratings second to give Greece investment grade as attention turns to key players from Sep
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
Moody's upgrades rating to 'B3,' amid confidence about political outlook, economic prospects
In an unexpected move on Wednesday night, Moody’s was the latest ratings agency to upgrade Greece’s credit worthiness by two notches, to ‘B3’ from the ‘Caa2.’ maintaining the positive outlook.
Moody’s rating, which was last upgraded in the summer of 2017, was well behind those of S&P and Fitch. Both upgraded Greece to ‘B’ in the last few weeks. Moody’s rating is the equivalent of ‘B-‘ for the other two and remains a notch lower.
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