Moody's Greek C Rating Remains
Moody's rating firm did not alter Greece's C stance on Friday, but the markets don't seem overly concerned on its current standing, regarding the nation's economic outlook.
A new bond issue is scheduled this week, keeping the 10-year Greek bond's benchmark rate, at levels unheard of in the last four financially troublesome years. Economic experts have determined this as a new feeling of confidence for the nation's recent strides.
Various queries have surfaced from Moody's unchanged status for the Hellenic state. The last time it altered its ranking was March 2, 2012. This happened as a result of debt restructuring, where Greece's credit rating of C correlated to a selective default. This change was viewed as appropriate at the time. Standard & Poor's and Fitch did the same.
Yet, Standard & Poor's and Fitch upgraded the state's rating, after a productive PSI completion. Moody's still has not revised Greece's rating for over two years, but is not required to do so. An alteration will most likely occur on August 1st or November 28th of this year. Yesterday, Moody's stated to Kathimerini, "...if the agency decides to announce a change it will do so based on institutional obligations".
