Citi expects two-notch 
upgrade for Greece

Greece will return to the investment grade group of countries as early as this summer, according to estimates by Citigroup, which expects Fitch Ratings to give the country a two-notch upgrade on July 24, when the agency's next assessment of the Greek economy is scheduled to take place.
This explains last week's Citigroup estimate that Greek bonds will be included in the European Central Bank's quantitative easing program (QE) by the end of this year.
Fitch upgraded Greece's rating last month, bringing it to within just two notches of investment grade.
It is the first of the four main rating agencies to bring Greek so close to exiting junk status.
Having forecast a good year for the Greek bond market, Citigroup is improving its estimate on the country's bonds for 2020, expecting their yield spread with the German Bund to drop to 90 basis points at the end of the...