Proceeds from the sale of Greece's 13-week Treasury Bills on Tuesday came in slightly more than target.
The debt agency PDMA raised EUR 1.3 billion against the EUR 1 billion target set for the auction. The sale attracted bids totaling EUR 2.701 billion.
The yield on the 13-week debt dropped to 4.61 percent from 4.64 percent at an auction on January 17. The bid-to-cover ratio dropped to 2.70 from 2.90.
The debt auction came just two days after the Greek Parliament passed a highly unpopular package of austerity measures amid nationwide protests. This paved the way for its international creditors to release EUR 130 billion in aid to the troubled euro member.
Adding to Eurozone's woes, Moody's Investors Service downgraded the ratings on six Eurozone countries on Monday, mainly citing the uncertainty over the euro area's prospects for institutional reform of its fiscal and economic framework. The rating agency also lowered the outlook on the triple-A ratings of UK, France and Austria to 'negative'.
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