Investing.com -- Moody’s Ratings agency has elevated Greece’s long-term sovereign rating to Baa3 from Ba1, effectively upgrading the nation’s status to investment grade. The agency also revised Greece’s outlook from positive to stable.
Moody’s anticipates that Greece will maintain surpluses and reduce its high debt burden due to the successful implementation of institutional reforms and a stable political environment.
Greek public finances have consistently exceeded Moody’s baseline expectations for several years, instilling confidence in the agency that Greece’s debt will continue to decrease.
The nation’s debt-to-GDP ratio has experienced a reduction of 50 percentage points since its peak in 2020, and it has dropped by approximately 27 percentage points from its pre-Covid levels.
In addition to the sovereign rating upgrade, Moody’s also raised Greece’s local and foreign currency country ceilings to Aa3 from A1.
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