DBRS
Greece ‘is in a virtuous cycle’
Moody's anticipates a credit rating upgrade for Greece in a report of its investment service, and although it still places the country three notches below investment grade, this positive reading by the strictest of the rating agencies has its value.
The next rating decisions are by DBRS on September 8, Moody's on September 15, S&P on October 20 and Fitch on December 1.
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Eurozone woes help Greek bonds
Bad news for the European economy, reflected in lower PMI indexes, was good news for bonds, especially Greece's, whose yields dropped significantly on Wednesday, as it appears increasingly likely that the European Central Bank will pause its rate hike in September.
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How Greece came to the cusp of regaining investment grade after 13 years
For rating agencies and major analysts, the story of Greece's debt regaining its investment grade after 13 years is one of the most compelling.
Reports note strength of Greek banks’ results
More positive reports on Greek banks have come out from Canadian ratings agency DBRS and US financial services company Jefferies Group.
DBRS notes that improvements in operational results and a better risk profile support a further strengthening of the banks' capitalization. But it also expects a slowdown in net income from interest rates.
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The benefits of a debt upgrade
It is widely expected that Greek debt will finally return to investment grade for the first time since 2010. Some minor credit rating agencies have already gone ahead with the upgrade, though none of the "big four" - DBRS, Fitch, Moody's and Standard & Poor's - have done so yet.
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Debt upgrade timing not a certainty, Barclays notes
Greece's debt attaining investment grade will likely happen, given its economy's progress, but that does not mean the bigger rating firms will do so in their next rating updates, Barclays notes.
It added that they usually act prudently, rather than hastily.
Investment grade bestowed
The decision late on Friday by German credit rating agency Scope Ratings to upgrade Greek debt to BBB-, that is, investment grade, comes on the heels of a similar decision by Japanese firm R&I and provides hopes that the "big four" ratings firms recognized by the European Central Bank - Fitch, Moody's, Standard & Poor's and DBRS - will move in the same direction, bestowing an investment
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First investment grade decision
Japan gave an important vote of confidence to Athens, as its rating agency Rating and Investment Information (R&I) is now the first to attribute Greece investment grade, after the upgrade to BBB- with stable prospects (from BB+ with stable prospects previously) on Monday.
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Is there scope for a midsummer surprise?
A huge surprise for Greece cannot be ruled out this summer. This has to do with a decision by the European Central Bank and concerns the inclusion of Scope Ratings in the group of rating agencies the ECB takes into account in its decisions.
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Investment grade in the final stretch
The government's policy declarations a few days ago were in line with the expectations of rating agencies and are not seen as endangering the country's fiscal course and the prudent fiscal policy - with a focus on growth, investment and debt reduction - that is also the ticket to investment grade, analysts from Fitch, Moody's, S&P and DBRS have told Kathimerini.
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