Greece and Its Banks Are Step Closer to Wider Investor Pool (1)

Greek lenders took a step closer to being able to access a deeper pool of debt investors after Scope Ratings restored the country to the ranks of investment-grade nations.

The ratings firm lifted Greece above junk after the market close on Friday, boosting hopes that an upgrade by one of the top three arbiters of creditworthiness could also come soon, first for the sovereign, and then for the banks.

An improved score from S&P Global Ratings, Moody’s Investors Service or Fitch Ratings would lift a barrier preventing fund managers from holding the bonds of Greek lenders, which currently trade at ...