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Tuesday, Mar 18, 2025

Greece Upgrades Credit Rating, Exiting 'Junk Bond' Status

Greece Upgrades Credit Rating, Exiting 'Junk Bond' Status

Moody's raises Greece's long-term credit rating from 'Ba1' to 'Baa3', indicating improved economic resilience and public finances.
Moody's Investors Service announced an upgrade of Greece's long-term credit rating from 'Ba1' to 'Baa3', marking the country's exit from the 'junk bond' designation it received in 2010 during the height of its financial crisis.

This upgrade comes as a recognition of Greece's enhanced economic resilience against future shocks and a faster-than-expected improvement in public finances.

In a statement, Moody's underscored that this rating revision is attributed to effective government reforms, recognized institutional improvements, and a stable political environment.

The rating agency anticipates that Greece will continue to achieve significant primary surpluses, enabling a gradual reduction in its high debt burden.

Additionally, the health of the Greek financial sector is reportedly strengthening, which reduces the likelihood of a banking crisis that could adversely affect the sovereign rating.

Moody's established a stable outlook for the rating, reflecting that the 'key credit challenges' for Athens are likely to take time to resolve.

The agency emphasized that the attainment of a more stable economic landscape will depend on maintained institutional and political stability.
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