Societe General calls “reasonable” the chances of a surprise from S&P on April 21, with an upgrade of the country to investment grade
Societe Generale expects Greece’s credit rating to be upgraded by Fitch in the first review for 2023, on January 27. In fact, the French investment house is betting on the recovery of the investment grade even before the elections, specifically on April 21.
Specifically, SocGen expects Fitch to upgrade Greece to BB+ with a stable outlook on January 27.
And he calls “reasonable” the chances of a surprise from S&P on April 21, upgrading the country to investment grade, even before the elections.
In this context, Societe Generale recommends its clients to buy the Greek 10-year bonds, against the corresponding Italian ones.
All the critical dates of 2023 for the Greek assessment
Fitch, which currently rates Greece at BB with a positive outlook, is going to carry out reviews of the Greek rating on January 27, June 9 and December 1.
S&P, which gives a BB+ rating with a stable outlook (one step below investment grade), will “deal” with Greece on April 21 and October 20.
Moody’s places Greece at Ba3 with a stable outlook and is set to review this rating on March 17 and September 15.
Finally, DBRS, which rates Greece at BB (high), has scheduled reviews for March 10 and September 8.
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