High-yield debt

Moody's raised Greece's credit rating outlook to "Positive" from "Stable" on Friday, but stopped short of lifting the country out of junk status and into investment grade.

The door is now wide open for the entry of quality and long-term investors, who manage trillions of dollars, into the Greek bonds market: Bloomberg Index Services, a global provider of government bond indices, has become the first to include Greek bonds among the elite of the debt markets, announcing that 17 Greek bonds worth 73 billion euros are to be included in its index series as of January

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.

DBRS Morningstar upgraded Greece's credit rating to investment level on Friday, ending the country's bonds "junk status" after 13 years.

The Canadian-based rating agency, one of the world's four majors, became on Friday the first to bring Greece back to investment level since 2010.

Markets are expecting Greece to regain investment grade soon after Sunday's general election, provided that a strong government comes out of the process. When Greek bonds emerge from the "junk status" they have been at for more than 12 years, they will not be the only ones to benefit.

Greece is close to regaining its investment-grade credit rating in 2023, after 12 years of relegation to junk status, the Financial Times reported on Tuesday.

"We think that 2023 is the year will get the investment grade," Greek central bank chief Yannis Stournaras said in an interview with the paper, urging the country's next government to maintain fiscal prudence.

The significant move of the S&P Global Ratings to upgrade Greece's credit rating one notch on Friday reflect the positive trajectory of the Greek economy and its market confidence.

The European Central Bank has asked staff to study whether it should buy "junk" corporate bonds as it comes under growing pressure to help the economy cope with the fallout from the coronavirus pandemic, four sources told Reuters.

Greece will return to the investment grade group of countries as early as this summer, according to estimates by Citigroup, which expects Fitch Ratings to give the country a two-notch upgrade on July 24, when the agency's next assessment of the Greek economy is scheduled to take place.