New credit upgrades show Greece is gradually closing investment-grade gap

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New credit upgrades show Greece is gradually closing investment-grade gapSenior Director and Head of Western European Sovereigns at Fitch Ratings Michele Napolitano told a conference in Nicosia last week that for Greece to reach an investment-grade level in the next 18 months is difficult but possible

The recent upgrades in Greece's sovereign credit rating and positive prospects by Standard & Poor's (S&P) and DBRS has brought the country closer to investment-grade normalcy compared to other Eurozone countries, ANA reports.

For the European Central Bank (ECB) in particular, an investment-grade rating by a single agency alone - S&P, Moody's, Fitch or DBRS - would be enough to open the way to the ECB purchasing Greek state bonds. Based on the latest ratings, Greece is three grades away from investment-grade in terms of S&P, DBRS and Fitch Ratings, and four grades away in terms of Moody's rating.

RELATED TOPICS: GreeceGreek tourism newsTourism in GreeceGreek islandsHotels in GreeceTravel to GreeceGreek destinationsGreek travel marketGreek tourism statisticsGreek tourism report

Photo Source: Wikimedia Commons License: CC-BY-SA Copyright: DaveOinSF~commonswiki 

 

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