Moody's Investors Service

The burden of justice

It's not the first time we've heard it. But the recent report by ratings agency Moody's cites the problems of Greece's justice system as a reason for not upgrading the country's credit rating.

Moody’s maintains Greece below investment level

Moody's remained on Friday the only major rating agency to maintain Greece outside the investment-grade states, as it affirmed the country's credit rating at "Ba1", with a stable outlook.

Last September the agency had raised Greece's rating two notches, from "Ba3". It has therefore maintained Greece one notch before investment level.

Bonds to woo big investors

The door is now wide open for the entry of quality and long-term investors, who manage trillions of dollars, into the Greek bonds market: Bloomberg Index Services, a global provider of government bond indices, has become the first to include Greek bonds among the elite of the debt markets, announcing that 17 Greek bonds worth 73 billion euros are to be included in its index series as of January

Bonds hit 16-month high

Greek bonds outperformed their eurozone counterparts considerably on Monday, with the 5-year Greek note even matching Spanish paper, having received a boost from Greece's upgrade by Fitch Ratings on Friday night.

New ECB rating agency Scope puts greater weight on eurozone protection mechanisms

Scope, Europe's first ECB-approved credit ratings agency, promises to put more weight on the eurozone's improved ability to navigate crises although it has concerns about Italy and France and warns the Dutch election result could trouble its coveted triple-A grade.