Moody's upgrades Greek rating by 2 marks

2019-03-02 04:45:53

(MENAFN) Rating agency Moody's said it has upgraded Greece's sovereign credit rating by two notches to "B1" with a stable outlook, from the "B3" rating with a positive outlook it gave the country over a year earlier.

Economists predicted this upgrade to help Greece in its next foray in the markets, probably with a 10-year bond.

Moody's explained that its upgrade indicated the strengthening of the country's economy due to reforms, the likelihood of a sustained strong fiscal performance, and the enhancement of public debt sustainability.

Greek bond yields in the secondary market have already declined to a decade-low, with the 10-year note's rate standing at 3.65 percent on Friday.

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