Standard & Poor's

Standard and Poor's stripped Russia of its investment-grade rating on Jan. 26, cutting it to "junk" status with a warning of weak growth.

"The downgrade reflects our view that Russia's monetary policy flexibility has become more limited and its economic growth prospects have weakened," the ratings agency said in a statement announcing the one-notch cut to a 'BB+' rating.

BELGRADE - The Standard & Poor's (S&P) credit rating agency has affirmed Serbia's BB- credit rating with negative outlook, the Public Debt Administration of the Ministry of Finance announced on Tuesday.

Bulgaria's capital Sofia credit rating will also be downgraded to "junk", said the deputy mayor in budget and finances Doncho Barbalov, quoted by Dnevnik.bg.

The reason is the downgrading of Bulgaria's sovereign credit rating from BBB-/A-3 to BB+ from BBB- with a stable outlook by the Standard & Poor's on Friday.

Credit ratings agency Standard & Poor's cut Bulgaria's sovereign credit ratingto BB+ from BBB- with a stable outlook.

By John Geddie

Greek bond yields edged lower on Monday after a credit rating upgrade from Standard & Poor's, which said the country remained on track to emerge from a six-year recession.

The upgrade to B from B- late on Friday is a boost for Greece's fragile coalition government, which is hoping to escape the constraints of its EU/IMF bailout program.

The international rating agency Standard & Poor's (S&P) downgraded on Friday the rating of Bulgaria's third largest telecom Bulgarian Telecommunications Company (Vivacom). 

According to S&P's official statement, quoted by Dnevnik.bg, the reason for this is the connection of Vivacom with the bankrupt Corporate Commercial Bank (KTB). 

Developments in Bulgaria's banking sector will not affect sovereign debt rating of the country, agency Standard & Poor's (S&P) says.

The announcement comes after S&P decided to cut the credit rating of Bulgaria by one notch lowering it to BBB- in mid-June, citing lack of progress on reforms which it considered likely to hinder economic growth.

Greece's Eurobank is marketing a 500m euro four-year bond at an initial yield of 4.375 percent area, according to a source. The size of the transaction will not grow.

The senior unsecured Eurobond is being issued by ERB Hellas, with Eurobank Ergasias acting as guarantor.

BELGRADE - Standard & Poor's Ratings Services reaffirmed Serbia's long-term local and foreign currency credit rating at “BB-” level with a negative outlook, the National Bank of Serbia (NBS) stated on Friday.

Moreover, Serbia's “B” short-term credit rating was also reaffirmed, the statement reads.

Greek bond yields dipped on Friday after Standard & Poor's said it could raise Greece's credit ratings if GDP growth were to pick up more substantially, after keeping them deep in junk territory with a stable outlook.