Moody’s has upgraded Greece’s credit rating to investment grade after 14 years.
The rating agency raised Greece’s rating to Baa3 from Ba1, while changing the outlook for the Greek economy from positive to stable.
This decision was anticipated, as Moody’s was the only one of the three major rating agencies that had not yet assigned Greece an investment-grade rating.
According to the agency’s analysis, Greece now has a more resilient credit profile against future economic challenges, and its fiscal situation has improved more quickly than initially forecast.
The three major credit rating agencies are Moody’s, Standard & Poor’s, and Fitch.
“Based on the government’s policy, the institutional improvements that are producing results, and the stable political environment, we expect Greece to continue generating significant primary surpluses that will steadily reduce its high debt. The health of the banking sector continues to improve, reducing the risk of a banking-related credit event that could negatively impact Greece’s credit profile,” say the agency’s analysts.
Moody’s Investors Service is a global provider of credit ratings, research, and risk analysis, and its services help businesses, governments, and other organizations worldwide make informed decisions.[1], [2].
