Reuters on Friday cites a Moody’s assessment of Greece’s return to sovereign borrowing markets as a “credit positive” event, days after the Greek state issued a 2.5 billion euro bond.
“It was Greece’s first debt issued outside of a programme after almost a decade of reliance on funding from the EU and IMF… Greece’s foray into international capital markets is credit positive, as it reflects improving investor confidence and paves the paves the way for Greece returning to full market-based funding,” Moody’s analyst Michail Michailopoulos is quoted as writing in a memo to investors.
Reuters reminded that Moody’s rates Greece B3 – six points below investment grade – with a positive outlook.
