June 11, 2013 / 9:32 PM / in 6 years

MSCI reclassifies Greece to emerging market status

NEW YORK, June 11 (Reuters) - Equity index provider MSCI on Tuesday reclassified European Union member Greece as an emerging market, citing failure to qualify on several criteria for market accessibility.

In a long-awaited move, MSCI did raise Qatar and the United Arab Emirates to emerging market status from frontier market classification.

Morocco’s market classification was lowered to frontier market from emerging market status.

“The reclassifications of the MSCI Qatar and MSCI UAE Indices will coincide with the May 2014 SemiAnnual Index Review while the reclassifications of the MSCI Greece and MSCI Morocco Indices will coincide with the November 2013 SemiAnnual Index Review,” MSCI said in a statement.

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