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DBRS Morningstar Note That Greece Is On Threshold Of IG Status

GREECE

BBG headlines cover comments from DBRS Morningstar, as the ratings agency notes that Greece is on the threshold of investment grade status (which won’t come as a surprise given its fiscal dynamics and the country’s current BB (high), Stable Trend status at the ratings agency), while it points to the impending scheduled rating review on 8 September.

  • A quick reminder that Scope ratings will provide their update on Greece after hours tonight (Scope has Greece one notch off of investment grade at present, with a positive outlook, although any upgrade there will not impact benchmark index/EGB purchase eligibility).
  • 10-Year GGBs have tightened vs. both German and Italian bonds this week, although those spreads operate a little above recent tights.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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