Markets are already pricing in Greece's Investment grade:
According to Reuters, Greece's return to investment grade after more than a decade is considered a "done deal" by bond investors.
- Published in Economy
According to Reuters, Greece's return to investment grade after more than a decade is considered a "done deal" by bond investors.
The head of the Bank of Greece sent a message to parties, just days ahead of elections,saying that he considers it unimaginable that any party or parties that find themselves in the government of the country in the next four years would endanger the investment grade.
Société Générale considers it unlikely that Greece will regain investment grade before the fourth quarter of 2022. It is reopening the trade of Greek bonds against Italian bonds in order to be prepared even for a possible surprise from S&P next Friday on the 21 of April, if it is the first ratings agency to put Greece in the investment grade category. The agency considers that the most likely scenario, due to the elections, is for this upgrade to come at the end of 2023 and the beginning of 2024, however... it keeps the possibility open. In fact, as he emphasizes, if the surprise does not happen, the trade will be closed again.