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BRIEF-Moody's upgrades Greece's sovereign bond rating to CAA2
June 23, 2017 / 9:03 PM / 2 months ago

BRIEF-Moody's upgrades Greece's sovereign bond rating to CAA2

June 23 (Reuters) -

* ‍Moody's says upgrades Greece's sovereign bond rating to CAA2 and changes outlook to positive​

* Moody's says Greece's outlook has been changed to positive from stable​

* Moody's says Greece's short-term ratings have been affirmed, at not prime (NP) and (P)NP

* Moody's says upgraded Greece's long-term issuer rating as well as all senior unsecured bond and programme ratings

* Moody's says Greece's economic, fiscal and political risks remain very elevated

* Moody's on Greece-long-term country ceilings for foreign-currency, local-currency bonds raised to B3 from CAA2, to reflect reduced risk of Greece exiting Euro area

* Moody's says drivers for greece rating action include successful conclusion of 2nd review under adjustment programme, release of tranche of €8.5 billion in coming days

* Moody's says drivers for greece rating action include improved fiscal prospects on back of 2016 fiscal outperformance

* Moody's says drivers for greece rating action include tentative signs of the economy stabilizing

* Moody's on Greece says positive outlook reflects view that prospects for a successful conclusion of greece's third adjustment programme have improved

* Moody's says Greece's ratings could be upgraded further if there was clear evidence that economy was on a sustained and reasonably strong growth path

* Moody's says upgrades Greece's sovereign bond rating to CAA2 and changes outlook to positive​

* Moody's on Greece- IMF's intention to remain involved via new stand-by agreement also supports view that steps to be taken to make debt burden sustainable Source text for Eikon:

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