“Cold turkey” from moody’s, it upgraded the Greek economy

Maintained the Caa3 with a stable outlook due to political uncertainty and high …
risk.
Stable hold of the assessment for Greece’s credit rating by moody’s, contrary to the expectations of the majority of the investment -and not only – common for upgrade.
The ratings maintained the “Caa3” for the Greek solvency, while maintaining a stable outlook.
The house notes that despite the successful completion of the first assessment, the ongoing and timely financing of Greece by the official sector remains uncertain, due to the unpredictable nature of politics in the country, of the measures that still need to be implemented, and of political changes in the eurozone. Therefore, the risks for bondholders in the private sector remain high.
The stable outlook reflects the assessment of moody’s that the risks for creditors are balanced. The evaluation Caa3 continues to include a high risk of implementation because of weak institutions in Greece, the social and political fragmentation and weak historic reforms.
The “ceiling” rating for the bonds in euro and foreign currency remains at Caa2, while the “ceiling” for the deposits in domestic and foreign currency at Caa3.
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