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Citi sees that our country will remain in the "risky" investment zone for many years – and certainly beyond 2022.
Citigroup expects Citigroup to remain in the "B +" rating and four grades in the "investment grade" category that Greece will remain in regards to S & P's ratings for the next nine months as well as for the According to estimates by the US bank, neither Moody's should change his ratings for Greece in the next nine months, keeping it in "B3" and six grades under the category of "category". # 39; investment. " In the next two to four years, Citi estimates that Moody's will move to a modest improvement in Greece and B2, staying away from the category that makes a country's bonds "safe" and "invested" .
Against the expectations of several badysts and the expectations of the Greek government that after the exit of the program will follow the multiple upgrades of Greece, Citi sees that our country will remain in the "risky" investment zone for many years – and certainly beyond 2022
As C iti, S & P (which was to announce late Friday night its new valuation for Greece, which, according to market estimates, would remain unchanged) stressed that the factors that could lead to further improvement include improving policy predictability, progress made in reducing unproductive loans and exposures of Greek banks and / or increasing net FDI. Thus, according to Credit Suisse, a factor permitting the inclusion of Greek bonds in the quantitative easing program of the ECB is unlikely
As the Swiss bank points out in its report, the only way to Greece include in the QE is: a) to obtain an investment grade (unlikely in the short term), b) to stay in a program (ie it does not) There is no clear exit), c) slightly change the rules of the improbable). Greece, he notes, will come out of the bailout, which is a positive development, but this has some disadvantages because it means that the country will lose the waiver, which is also a prerequisite for access to liquidity and the participation of the ECB. in the quantitative easing program
However, a positive badysis of debt sustainability by the ECB will send a clear positive message, and this is likely to happen, he believes, taking into account new measures for debt relief. should arrive at very strong conclusions If the Greek debt is deemed viable by the ECB, it will strengthen market confidence in the country's ability to repay its debt. Credit Suisse thinks it will be a "key" for investors, while many aspects of the Greek economy are showing clear signs of improvement
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