February 22, 2018 / 7:41 AM / 6 months ago

Greek government bond yields drop after Moody's upgrade

LONDON, Feb 22 (Reuters) - Greece’s borrowing costs fell across the board on Thursday after Moody’s upgraded the country’s credit rating late on Wednesday.

Credit ratings agency Moody’s upgraded Greece two notches from Caa2 to B3 and maintained the positive outlook, saying it believes the debt-laden nation will return to self-sufficiency and market-based funding.

The yield on Greece’s 10-year government bond dropped 6.5 basis points to 4.41 percent, while its five-year borrowing costs fell 3 bps to 3.63 percent at the open. (Reporting by Abhinav Ramnarayan; Editing by Jamie McGeever)

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