{"id":19247,"date":"2020-02-15T16:27:07","date_gmt":"2020-02-15T14:27:07","guid":{"rendered":"https:\/\/bestinsurance.gr\/a1\/?p=19247"},"modified":"2020-02-15T16:27:07","modified_gmt":"2020-02-15T14:27:07","slug":"greeces-investment-grade-still-looks-far-off-euro-rates-daily","status":"publish","type":"post","link":"https:\/\/bestinsurance.gr\/a1\/archives\/19247","title":{"rendered":"Greece\u2019s Investment Grade Still Looks Far Off: Euro Rates Daily"},"content":{"rendered":"
(Bloomberg) —<\/span><\/section>\n
Yield hunters are excited about Greek bonds these days, but the rally in the debt by no means suggests higher probability of a sovereign upgrade to investment grade.While the nation\u2019s economic growth may stay above<\/a>euro-area average, according to the European Commission, many hurdles still remain to a rating improvement. The debt-to-GDP<\/a> ratio is the region\u2019s highest, even if it is expected to decline, and the banking sector is still burdened by bad loans, which are to be reduced under the Hercules<\/a> program.<\/p>\n

Moreover, any results of progress made in economic and fiscal policy will only become visible in the longer run. Before any positive change in ratings, credit watchdogs will want to be sure that Greece continues on the reform path and achieves its goals.<\/p>\n

After Fitch Ratings<\/a> raised its credit rating for Greece last month to BB with a positive outlook, the country is still two steps short of investment grade. At other three rating companies<\/a>, the country is still three notches into junk territory. Even if they were to upgrade the nation by one notch on each review date in the current year, it would still stay sub-investment. In any case, a six-month interval between the reviews is a very short period of time to be able to identify additional structural improvements.<\/p>\n\n\n\n\n\n<\/colgroup>\n\n\n\n
DBRS<\/th>\nFitch<\/th>\nMoody\u2019s<\/th>\nS&P Global<\/th>\n<\/tr>\n
April 24<\/p>\n

October 23<\/td>\n

July 24<\/td>\nMay 8<\/p>\n

November 6<\/td>\n

April 24<\/p>\n

October 23<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source: DBRS Morningstar, Fitch Ratings, Moody\u2019s Investors Service, S&P Global Ratings<\/p>\n

Even if Greece is raised to just one step short of investment grade, it wouldn\u2019t mean that its exit from junk is near. Portugal<\/a>, which has always had an investment grade at DBRS, had to wait at least two years to win such a rating at S&P Global and as much as six years at Fitch.<\/p>\n

Euro Rates Daily is an excerpt from the German language report \u201cRenten am Morgen.\u201d To read the current issue, please click Renten am Morgen: Erh\u00f6hte COVID-19-Zahl sorgt f\u00fcr Risk-off<\/a><\/p>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

(Bloomberg) — Yield hunters are excited about Greek bonds these days, but the rally in the debt by no means suggests higher probability of a sovereign upgrade to investment grade.While the nation\u2019s economic growth may stay aboveeuro-area average, according to the European Commission, many hurdles still remain to a rating improvement. The debt-to-GDP ratio is<\/p>\n","protected":false},"author":1,"featured_media":19248,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[],"class_list":["post-19247","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-2"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/19247","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/comments?post=19247"}],"version-history":[{"count":1,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/19247\/revisions"}],"predecessor-version":[{"id":19250,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/19247\/revisions\/19250"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media\/19248"}],"wp:attachment":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media?parent=19247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/categories?post=19247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/tags?post=19247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}