Greek 10-year yield hits lowest since June after Fitch upgrade

Credit: REUTERS/Kostas Tsironis

LONDON, Dec 4 (Reuters) - Greece's 10-year government bond yield dropped to its lowest level since June on Monday after ratings agency Fitch upgraded the country's sovereign rating to investment grade, citing the sharp downward trend in general government debt.

Fitch on Friday raised the rating to 'BBB-' from 'BB+' with a stable outlook - following a similar move from S&P Global Ratings in October - making Greece's bonds eligible for a wide range of bond indexes that require investment-grade ratings from multiple agencies.

Greece's 10-year government bond yield GR10YT=RR dropped 6 basis points to 3.584%, its lowest level since June 28.

(Reporting by Samuel Indyk; Editing by Amanda Cooper)

((Samuel.Indyk@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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