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Moody’s has been rated by Greece Big World Finance 

Moody’s has been rated by Greece

He upgraded Greece and Moody’s Investors Service, referring to the opinion that the Greek Government’s current adjustment program has significantly improved the fiscal situation and institutional background.

On Wednesday, the international rating agency announced in London that the Greek classification of the state debt classification from the “Caa2” to date has two degrees “B3”, the rating of the unsecured bonds also with two degrees “Caa2 / (P) Caa2” to “B3 / (P ) To B3 “.
Based on ratings and Moody’s further qualification opportunities, he left a positive view.
Thanks to the rating improvement, the strengthening of the economy and the banking sector is enhanced by the credit rating’s top position: in its view, the results of sustainable remittances and institutional improvements will remain in the coming years.
Moody’s also hopes that Greece will successfully complete the current third financial support program and return to stand-alone, market-based financing.
Due to the re-regulation bank overrun or restructuring, Greek customers can not take over clients due to claims on private debtors against Greek debt obligations.
According to Moody’s analysis, Greece’s performance in the current adjustment program surpassed expectations and was much more robust than at the time of the previous two financial programs.
The primary balance of the public finance sector reached both surpluses in excess of 2 per cent of the total domestic product (GDP) and the overall balance of the public finances both last year and 2016. The bulk of the improvement stems from structured measures and results in definitive fiscal corrections – is the reason for the credit-in-rating.
According to Moody’s estimates, this fiscal performance will bring about a 7 percentage point improvement over the next two years in the government debt ratio, which, on the basis of expectations, will fall to just above the 174 per cent GDP level in 2019, down from a peak of 181 per cent last year.
Moody’s says it maintains a forecast of 2 per cent this year and 2.2 per cent of future economic growth, but is more confident of the realization of these forecasts, given that the successful completion of the adjustment program is expected to improve consumer and business confidence and encourage the capital inflow.
Over the last few weeks, all three top international rating agencies have upgraded Greece.
On January 19, Standard & Poor’s replaced the “B minus” with a “B” degree in the currency and the Greek sovereign credit rating in the domestic currency, and the new rating was also further upgraded.
In its explanation, Standard & Poor emphasized that Greek public finances are closed with the primary surplus in 2016 and 2017, and an economy has come out of last year’s recession.
Standard & Poor’s assumes a real growth rate of 2.4 percent in the Greek economy on an annual average of 2018 for 2018-2021 between 2018 and 2021.
In Hitchfõ, Fitch Ratings also improved Greece’s sovereign debt rating from “B minus” to “B”, which was also positively outpaced. In its explanation, Fitch stressed that Greek public debt stabilized, lasting economic growth, increased primary budget surplus without debt service, and domestic policy risks declining.

Source: MTI

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