06-03-2014. Greece's return to international capital markets in 2014 was feasible, Stylianos Papadopoulos, head of the Public Debt Management Organization said on Thursday.
Papadopoulos predicted that international credit rating agencies will raise the country's rating, reflecting a restructuring of its fiscal data and contributing to the country's exit in international markets.
This positive outlook is also reflected in the domestic electronic secondary bond market where the yield of the 10-year benchmark bond fell to 6.6 pct, from 6.86 pct on Wednesday, with the yield spread between the 10-year Greek and German bonds shrinking further to 5.0 pct, from 5.25 pct the previous day.
Papadopoulos, in a report to Parliament, said that Greece has significant reduced spending for its cooperation with credit rating agencies and said that these reductions ranged from 48 to 82 pct compared with 2010.
Greece's payments to credit rating agencies were:
2013
• MOODY'S: 50,500 USD
• FITCH RATINGS: 41,000 GBP
• STANDARD & POOR'S: 137,700 EUR
• R&I RATINGS: 2,000,000 JPY
2012
• MOODY'S: 50,500 USD
• FITCH RATINGS: 41,000 GBP
• STANDARD & POOR'S: 135,000 EUR
2011
• R& I RATINGS: 2,000,000 JPY
• FICH RATINGS: 84,201.74 GBP
• MOODY'S: 2,900 USD
2010
• MOODY'S: 280,650 USD
• R& I RATINGS: 2,000,000 JPY
• FITCH RATINGS: 79,500 GBP
• STANDARD & POOR'S: 270,000 EUR
2009
• STANDARD & POOR'S: 540,000 EUR
• R& I RATINGS: 2,000,000 JPY
• MOODY'S: 16,500 USD
• FITCH RATINGS: 79,340.63 GBP
Total payments per currency in the period 2009-2013 were: 1,082,700 EUR, 8,000,000 JPY, 401,050 USD, 325,042.37 GBP.
Source: RE+D Magazine
