Covid recession bumped pension spending to 18 pct of GDP in 2020
Greece draws another 3 bln from bond markets as debt strategy continues at pace
S&P upgrades Greece to 'BB' with positive outlook in expectation of post-pandemic upside
BoG sees 4.2% recovery in 2021, re-emphasises need for bad bank
PM unveils 'Greece 2.0' plan to use EU recovery funds, transform economy
Greek 30-year bond attracts strong demand at attractive yield
Moody's raises Greece two notches to 'B1' but highlights challenges for further upgrades
Moody’s upgraded Greece’s credit rating by two notches on Friday, taking it to ‘B1’, from ‘B3’ previously, with a stable outlook, from positive.
Contrary to expectations in September, Moody’s did not take any rating action and opted for a more cautious approach, as Greece was also amid discussions with its lenders to finalise the budget for the new year by avoiding the pre-legislated pensions cuts.
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