The yield on Greek government bonds fell to 3.25%, close to the lowest level since 2009, following an upgrade by Fitch Ratings.
The yield of the 10-year bond fell 5 basis points to 5.58% at the beginning of the tender and then it stabilised.
On Friday, Fitch Ratings upgraded Greece’s Long-Term Foreign-Currency Issuer Default Ratings (IDR) to “B-” from “CCC”, with a “positive” outlook, based on its view that the country’s third adjustment program review will be completed without creating instability, and that the Eurogroup will grant Greece debt relief in 2018.
(Source: AMNA)
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