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Tag Archives: Moody’s

Moody’s: Ukraine war to affect Greece growth rate, inflation, tourism

April 14, 2022 Economy 4

The Russian invasion of Ukraine will weigh on Greece’s growth rate, have a major impact on inflation, shrink disposable incomes and render the country’s 2022 tourism prospects less rosy, according to a new report by Moody’s Analytics. Deputy Director Michael Grammatikopoulos notes that the military conflict has led Moody’s to …

Moody’s: Greece vulnerable to climate change, even if cost from fires manageable

August 12, 2021 Economy, FEATURED 4

Wildfire-related costs from the catastrophic wildfires will be manageable for Greece, but they highlight the country’s vulnerability to climate change, while tourism may also be affected, Moody’s said in a report on Wednesday. The credit rating agency said that over the last two weeks, Greece has experienced its worst wildfires …

Moody’s: Greece can weather a prolonged tourism slump

August 31, 2020 Economy Comments Off on Moody’s: Greece can weather a prolonged tourism slump

Most European sovereigns, including Greece, can weather a prolonged tourism slump, Moody’s said in a statement on Monday. The decline in tourism in the countries of the European South is likely to last beyond 2020, but they can weather a prolonged tourism slump thanks to the adjustment they have made …

Moody’s: Thomas Cook liquidation is “credit negative” for Greek, Cypriot banks

September 26, 2019 Economy 1

The collapse of British tour operator Thomas Cook is “credit negative” for Greek and Cypriot banks because it reduces the cash flow of businesses in the tourism sectors of these countries, ratings agency Moody’s said in a report on Thursday. “The compulsory liquidation of Thomas Cook and the resultant decline …

Outlook for Greek banks remains positive, says Moody’s report

June 4, 2019 Economy Comments Off on Outlook for Greek banks remains positive, says Moody’s report

The outlook for Greece’s banking system remains positive on expected improvements in banks’ funding and asset risks, Moody’s Investors Service said in a report released on Monday. “Moody’s expects more deposit growth and a gradual fall in problem loans,” said Nondas Nicolaides, VP-Sr Credit Officer at Moody’s. “Banks should remain …

Moody’s upgrades Greece by 2 notches, opens way for 10-Year bond issue

March 2, 2019 Economy Comments Off on Moody’s upgrades Greece by 2 notches, opens way for 10-Year bond issue

Rating agency Moody’s announced on Friday 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 had granted Greece just over a year earlier. Economists expected this upgrade to assist Greece in its next foray …

Moody’s: Greece’s return to bond market is “credit positive”

February 1, 2019 Economy Comments Off on Moody’s: Greece’s return to bond market is “credit positive”

Greece’s return to international debt markets in January with a issue worth 2.5 billion euros is credit positive for the junk-rated country, ratings agency Moody’s said on Friday. “It was Greece’s first debt issued outside of a programme after almost a decade of reliance on funding from the EU and …

Moody’s keeps Greece’s sovereign credit at B3, positive outlook

September 27, 2018 Economy Comments Off on Moody’s keeps Greece’s sovereign credit at B3, positive outlook

Ratings agency Moody’s keeps Greece’s sovereign credit rating unchanged at B3, with a positive outlook, in a credit opinion it issued on Wednesday. The international ratings agency noted that Greece’s prospects will remain positive as long as the government sticks to the reform program it has pledged, which illustrates that …

Markets react positive as Moody’s upgrades Greece’s credit rating by two notches

February 22, 2018 Uncategorized 1

In a surprise move, ratings agency Moody’s upgraded Greece‘s credit rating to B3 from Caa2, maintaining the positive outlook. Moody’s cited “material fiscal and institutional improvements” under the current adjustment programe, which will be sustained in the coming years. This should support economic recovery and banking sector. Furthermore, Moody’s said …

Moody’s raises Greece’s bond and outlook ratings as economy stabilizes

June 25, 2017 Economy 2

The spectrum of short-term Greek crisis has been apparently averted. Credit ratings agency Moody`s on Friday raised Greece`s long-term issuer rating to “Caa2” from “Caa3” after euro zone governments extended a credit lifeline to the country. Moody`s also changed its outlook to “positive”, up from “stable” previously, saying it saw …

Moody’s on Greek banks law: Big deposits of over €100K at risk of bail-in

July 27, 2015 Economy 2

Greece’s new bank-failure law puts uninsured depositors at risk because it ranks them below state claims in an insolvency or resolution, Moody’s Investors Service said on Monday. The law is “credit negative” for bondholders and uninsured depositors because of the limits on using public funds for bank resolution and because …

Moody’s “sees” capital controls and deposits freeze in Greece

May 20, 2015 Economy 3

Moody’s Investors Service said Wednesday its outlook on the Greek banking system is “negative”, citing “acute deterioration in funding and liquidity” as reason for its view. “These pressures are unlikely to ease over the next 12-18 months and there is a high likelihood of an imposition of capital controls and …

Citigroup: Greece probably to leave eurozone next year

November 29, 2012 Economy 10

Three eurozone nations will have to restructure their government debt next year, and Greece will probably exit the eurozone, Citigroup predicts. Italy, Spain and Greece will need debt restructures next year, Michael Saunders, Citigroup’s chief European economist believes. The same forecast is true of Ireland, Portugal, Cyprus and Slovenia by …

Fitch, Moody’s Threaten Euro Zone with “Collective Downgrade”, Should Greece…

June 9, 2012 Economy 5

Rating agencies Fitch and Moody’s threaten to collectively downgrade the Euro Zone, should Greece exit the common currency club. I wonder: did Greeks get supporters against Germany’s pressures? Is it a good or a bad sign? But, of course, the question about the power potential of ratings agencies remain… Moody’s: …

PSI: Greeks Head to IMF as IIF Complains and Hedge Funds Warn of Default

January 16, 2012 Economy 10

Petros Chistodoulou and Giorgos Zanias, heads of Greece’s Public Debt Management Agency (PDMA) and the Council of Economic Advisers respectively, are heading to Washington for talks with representatives on the International Monetary Fund on the restructuring programme fo the Greek debt. Negotiations between the Greek government and private creditors on the …

Moody’s Violently Kicked EU’s Butts Over Portugal

July 6, 2011 Economy 7

Finally the kings and queens of European Union and relevant royal families like the one in Germany woke up. In fact, they were violently rose from their beds with a painful kick landing at their snobbish butts. They came running down the imperial staircase to the living room. Confirmed reports insist, it …

Moody’s downgrades Greece lower than …Egypt

June 1, 2011 Economy Comments Off on Moody’s downgrades Greece lower than …Egypt

Another brick in Greece’s wall and in the heads of our government in general, and Finance Minister’s in particular. Rating Agency Moody’s downgraded Greece and placed it below … Egypt! Reuters just reported that Moody’s slashed Greece’s credit rating by three notches on Monday due to an increased default risk, raising …

Moody Moody’s downgrades Greece’s capital, Athens, as well

March 8, 2011 Economy Comments Off on Moody Moody’s downgrades Greece’s capital, Athens, as well

No, it’s not a joke! It’s bitter serious! Rating agency Moody’s is very moody recently and downgrades whatever “Greek” crosses its way. So, beware to avoid a Moody and its small Moody’s, should you see one on the streets. Moody Moody’s will downgrade you personally by 3 notches and define …

Moody’s: Losses of a possible Greece’s Default at 50%

March 8, 2011 Economy 2

One day after Moody’s downgrade by 3 nothes, Sarah Carlson, analyst at Moody’s Investors Services said that the losses of a possible default will be around 50% for creditors. Speaking to Greek economic portal Capital, Carlson said that “any estimation of losses in the event of a default would be speculative”. …

Moody’s downgrades Greece on beginning of Lent-What a great sense of humor!

March 7, 2011 Economy Comments Off on Moody’s downgrades Greece on beginning of Lent-What a great sense of humor!

The guys working at the rating agency Moody’s must have an extra ordinary sense of humor. On the Greek Orthodox Holiday “Clean Monday” marking the beginning of the Lent and the fasting before Eastern, the Moody’s decided to enforce believers or not to go into a strict diet on the perspective of …