Greece taps bond markets after sovereign upgrade

ATHENS, Greece (AP) — Greece has raised 1.5 billion euros in a 7-year bond re-issue, tapping markets days after a sovereign credit rating upgrade. Finance Minister Christos Staikouras said the money was raised with a yield of 2.4% ‒ up from the 2% yield in 2020 when the bond was first issued. The ratings agency Standard & Poor’s last week raised the Greek sovereign rating to BB+ from BB, one notch below investment grade. Athens is hoping to return to investment grade next year for the first time since the near-collapse of its economy triggered successive international bailouts starting in 2010.