Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1

[giub]

Grecia, S&P riduce rating a 'BB-', mantiene creditwatch negativo

azz...
questa volta gaudente precursore ha portato male!

 

[tommy271]

Greece's Rating Cut Two Levels to BB- by S&P on Debt-Restructuring Concern

By Marcus Bensasson - Mar 29, 2011 3:51 PM GMT+0200 Tue Mar 29 13:51:42 GMT 2011

Greece’s credit rating was cut two steps by Standard and Poor’s on concern the country may be required to restructure its debt and bondholders may lose out.
The rating was lowered to BB- from BB+ by S&P, according to a statement today. The outlook remains negative, according to the statement.
A meeting of EU leaders in Brussels on March 25 affirmed a decision earlier this month to ease the terms of 110 billion- euro ($155 billion) in emergency loans granted to Greece last year in return for a program of budget cuts. The leaders also agreed that repayment of loans granted through the European Stability Mechanism, the region’s permanent debt crisis mechanism from 2013, would take a priority in the event of a debt restructuring. S&P said on March 15 that the agreement would be “detrimental” to existing bondholders.
The March 25 statement “confirms our previously published expectations that sovereign-debt restructuring is a potential pre-condition to borrowing from the ESM,” according to S&P. The rating company also cited concerns that senior unsecured government debt will be subordinated to ESM loans.



***
Si citano le condizioni (a nostro svantaggio) nel caso di accettazione di aiuti da parte dell'ESM che implicherebbero un concorso dei privati nei processi di ristrutturazione del debito.

 

[tommy271]

Portugal, Greece Debt Insurance Costs Rise After Downgrades


By Art Patnaude

LONDON — The debt insurance costs for Portugal and Greece rose after their credit ratings were downgraded by Standard and Poor’s Corp.
The S&P move brought its rating on Portugal to one notch above junk status, and its five-year credit default swap spread felt the effects of the decision more than Greece, which S&P already rated in junk territory.
Portugal’s CDS spread jumped to 5.55 percentage point in reaction to the downgrade from 5.40percentage point earlier and a closing level Monday at 5.39 percentage point, according to data-provider Markit.
A rise of one-hundredth of a percentage point in the cost of five-year CDS equates to a $1,000 rise in the annual cost of protecting $10 million of debt for five years.
The CDS level on Greece moved out to 9.70 percentage point from 9.65 percentage point earlier and closed at 9.67 percentage points.
CDS are derivatives that function like a default insurance contract for debt. If a borrower defaults, sellers compensate buyers.


***
Comunque sui CDS eravamo a ben altri livelli ...

 

[tommy271]

azz...
questa volta gaudente precursore ha portato male!

Era meglio una volta ...

 

[Ivone]

Greece's Rating Cut Two Levels to BB- by S&P on Debt-Restructuring Concern

By Marcus Bensasson - Mar 29, 2011 3:51 PM GMT+0200 Tue Mar 29 13:51:42 GMT 2011
Greece’s credit rating was cut two steps by Standard and Poor’s on concern the country may be required to restructure its debt and bondholders may lose out.
The rating was lowered to BB- from BB+ by S&P, according to a statement today. The outlook remains negative, according to the statement.
A meeting of EU leaders in Brussels on March 25 affirmed a decision earlier this month to ease the terms of 110 billion- euro ($155 billion) in emergency loans granted to Greece last year in return for a program of budget cuts. The leaders also agreed that repayment of loans granted through the European Stability Mechanism, the region’s permanent debt crisis mechanism from 2013, would take a priority in the event of a debt restructuring. S&P said on March 15 that the agreement would be “detrimental” to existing bondholders.
The March 25 statement “confirms our previously published expectations that sovereign-debt restructuring is a potential pre-condition to borrowing from the ESM,” according to S&P. The rating company also cited concerns that senior unsecured government debt will be subordinated to ESM loans.


Certo che se queste saranno le decisioni a giugno, siamo veramente senza speranza, in quanto il problema della Grecia è che non è in condizione di rollare.

 

[tommy271]

Greece's Rating Cut Two Levels to BB- by S&P on Debt-Restructuring Concern

By Marcus Bensasson - Mar 29, 2011 3:51 PM GMT+0200 Tue Mar 29 13:51:42 GMT 2011
Greece’s credit rating was cut two steps by Standard and Poor’s on concern the country may be required to restructure its debt and bondholders may lose out.
The rating was lowered to BB- from BB+ by S&P, according to a statement today. The outlook remains negative, according to the statement.
A meeting of EU leaders in Brussels on March 25 affirmed a decision earlier this month to ease the terms of 110 billion- euro ($155 billion) in emergency loans granted to Greece last year in return for a program of budget cuts. The leaders also agreed that repayment of loans granted through the European Stability Mechanism, the region’s permanent debt crisis mechanism from 2013, would take a priority in the event of a debt restructuring. S&P said on March 15 that the agreement would be “detrimental” to existing bondholders.
The March 25 statement “confirms our previously published expectations that sovereign-debt restructuring is a potential pre-condition to borrowing from the ESM,” according to S&P. The rating company also cited concerns that senior unsecured government debt will be subordinated to ESM loans.


Certo che se queste saranno le decisioni a giugno, siamo veramente senza speranza, in quanto il problema della Grecia è che non è in condizione di rollare.

Il ESM entrerà in funzione a partire dal 1 luglio 2013.
Al momento c'è l'EFSF.
I primi tentativi di riaffacciarsi sul mercato dei titoli pluriennali sarà a partire dal 2012.
Al momento non c'è nessuna necessità di procacciarsi il "liquido", in quanto il fabbisogno è coperto dalla Troika.

 

[ferdo]

oggi alzo bandiera bianca: tra bancari e greci mi hanno depresso il morale

 

[tommy271]

Rendimenti bond Portogallo e Grecia salgono dopo downgrade S&P

martedì 29 marzo 2011 16:19






LONDRA, 29 marzo (Reuters) - I rendimenti dei titoli di stato portoghesi hanno toccato nuovi massimi dall'introduzione dell'euro dopo il declassamento dei due emittenti sovrani da parte di Standard & Poor's.
Il rendimento del bond a due anni portoghese ha raggiunto 7,699% PT2YT=TWEB, in rialzo di 18 punti base, mentre quello del 10 anni è salito all'8,18% PT10YT=TWEB.
S&P ha tagliato il Portogallo di un notch a BBB-, un gradino sopra la condizione di "junk". L'outlook è negativo.
L'agenzia di rating ha anche ridotto il rating della Grecia di due notch a BB-, spingendo il rendimento del due anni in rialzo intraday di 10 punti base al 15,46%.


***
Il decennale è sempre abbastanza stabile, come dicevo i titoli "a rischio" sono quelli brevi che quotano di più ...
Nel malaugurato caso l'economia greca si avviti in una spirale recessiva sono le scadenze più vicine ad essere sollecitate "al rinvio".

 

[ferdo]

http://www.finanzaonline.com/openx/www/delivery/ck.php?n=53aaa90 Grecia: Papandreou, S&P´s non ha tenuto conto dei nostri sforzi

29.3.11/16:51

"Il downgrade di Standard & Poor's non tiene conto gli sforzi sul piano delle politiche fiscali fatti dalla Grecia". Lo ha dichiarato il primo ministro di Atene, George Papandreou. Oggi l´agenzia di rating ha ridotto la valutazione sul merito di credito ellenico di due notches a "BB-" dal precedente "BB+".

 

[tommy271]

Borsa Atene: Ase chiude a -2%, in calo bancari


MILANO (MF-DJ)--L'indice Ase della Borsa di Atene chiude la seduta in calo del 2% a 1.579,76 punti con un ridotto volume di scambi di 110,2 mln euro dopo il downgrade di S&P sulle banche greche.
National Bank cede il 3,9%, Alpha Bank l'1,6%, Eurobank il 5% e Piraeus Bank il 5,8%.
Tra le altre blue chip Ote scende del 3,3% mentre Ppc sale dello 0,8%