Macro Political
• Greece will today auction 13 Weeks T-Bills with maturity July 4, 2025. The amount to be auctioned is EUR 500mn.
Source: PDMA
• Greece’s Manufacturing PMI posted 55.0 in March, up from 52.6 in February, to signal a strong improvement in operating conditions at Greek goods producer. The latest upturn was the fastest since April 2024 and was historically elevated. Notably, Greek good producers registered the fastest rise in production levels since April 2024, as greater new orders and stronger client demand supported the historically elevated upturn.
Source: PMI
Markets
• Fitch Ratings announced upgrades for four Greek systemic banks. Specifically, Fitch upgraded the Long-Term Issuer Default Ratings of Eurobank and NBG by one notch to BBB-/Stable from BB+/Positive and those of Alpha Bank and Piraeus Bank to BB+/Positive from BB/Positive. According to Fitch, the upgrades reflect improvements in their standalone credit profiles, including a longer track record of sound earnings generation, the completion of their asset quality cleanup, strengthened capital positions, and stable deposit-based funding. Additionally, the upgrades are set against the backdrop of Greece’s improving operating environment, as Fitch expects business opportunities for Greek banks to benefit from resilient economic growth of 2.3% above the EU average in 2025 and 2026.
Source: Fitch
• Intralot, following its announcement on March 28,2024, regarding the issuance of a Bond Loan up to EUR 100mn, with organizers Piraeus Bank and NBG and initial bondholders Piraeus Bank, NBG, Optima Bank, and Attica Bank ,with Piraeus acting as the representative of the bondholders , announces that on March 31, 2025,it signed an agreement to extend the maturity of the loan from June 30,2025 to January 30,2026.It is noted that , following the payments already made as provided in the terms of the Bond Loan agreement, the outstanding principal amounts currently to EUR 90mn.
Source: ATHEX
