Tag Archives: Moody’s

Moody’s credit rating agency upgraded the outlook for the Greek economy to positive from stable on Friday, while reaffirming its Ba1 credit rating. Moody’s explained that the shift to a positive outlook reflects the increased likelihood of sustainable improvements in the resilience of the banking sector, reducing the risks of …

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Fitch Ratings on Tuesday upgraded Greece’s four systemic banks ratings, following a recent round of upgrades of Greece’s credit rating. Fitch Ratings upgraded Eurobank SA’s Long-Term Issuer Default Ratings (IDRs) to ‘BB’ from ‘BB-‘, and Viability Ratings (VRs) to ‘bb’ from ‘bb-‘. The outlooks on the Long-Term IDRs are Stable. …

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New Democracy’s strong results in last Sunday’s elections significantly increase the chance that it will form a government after the repeat elections to be held at the end of June, Moody’s credit rating agency noted on Thursday. This means that there will be continuity in fiscal and economic policy and …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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: …

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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 …

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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 …

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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 …

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