JP Morgan forecasts an upgrade of Greece’s credit rating to “investment grade” (IG) by S&P and Fitch, with the former set to unveil its latest credit ratings on Friday, and the latter on Dec. 1.
According to the global investment bank, there is a high probability of S&P upgrading Greece from a positive outlook and BB+ to BBB- and a stable outlook.
The country’s rating has already been upgraded, early last month, by DBRS to IG level.
Various European government bonds (EGB) indexes require, at minimum, the lowest IG rating from two out of the three ratings agencies (S&P, Moody’s and Fitch) in order to bundle Greek securities in certain indexes.
This framework means that Fitch’s coming review on Dec. 1 is crucial for Greek sovereign securities.
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