Greek government-debt crisis timeline

Fitch Ratings reaffirmed Greece's credit rating at BBB- with a stable outlook, maintaining the rating it had assigned six months ago.

In its announcement, Fitch noted that Greece's ratings reflect higher-than-average per capita income levels and governance indicators among BBB rated countries, along with a policy credibility due to EU and eurozone membership.

A new round of ratings assessments for Greece's debt will begin in September. DBRS will start on September 6, followed, a week later, by Moody's, the only one of the credit rating agencies that has not bestowed an "investment grade" rating on Greece.

The Greek economy saw an inflow of 5 billion euros for Greek shares and bonds as a result of the credit rating outlook upgrade of the Greek economy, a report in the Bank of Greece Economic Bulletin said on Wednesday.

The Bank of Greece's Bank of Greece has revealed that apartment prices increased at an average annual rate of 13.4% in 2023

Fitch Ratings added itself on Friday night to the list of rating agencies that have reverted Greece to investment grade, raising its sovereign credit rating to BBB- from BB+.

What is more, Fitch said the Greek rating also has a positive outlook, which may well mean a further upgrade is on the horizon.

Fitch Ratings was added on Friday night to the rating agencies that have reverted Greece to investment grade, as it raised Greece's sovereign credit rating to BBB- from BB+.

What is more, Fitch said the Greek rating also has a positive outlook, that may well mean a further upgrade is on its way for Greece.

Standard & Poor's refrained from granting investment grade to the Greek economy on Friday, but showed it intends to do so in its next rating action, as it upgraded Greece's outlook from "Stable" to "Positive," in a move largely expected by markets.

International credit rating agencies "see" strong prospects for the development of the Greek economy, on which, after all, the upgrades of the Greek debt in the last two years were based to a significant degree.

Total credit in Greece's banking system expanded 0.7 percent year-on-year in March after a 1.0 percent decline in the previous month, Bank of Greece data showed on Friday.

[Reuters]

Greece is preparing for a new bond issue, after its credit rating was upgraded by one of the three main rating agencies, the country's finance minister said on Monday.

Greece on Monday mandated six banks to act as joint lead managers for a 15-year bond, maturing in February 2035. It will be the first bond foray for Greece this year.