Credit rating agency Standard & Poor’s (S&P) reaffirmed Greece’s investment-grade rating of “ BBB-” with a positive outlook though.
HDN Newsroom
S&P was the first of the three major US credit rating agencies to upgrade Greece to investment grade. Fitch followed suit in December and Moody’s is expected to make its final assessment in November. Moody’s has kept Greece one notch before investment grade but it upgraded it to a positive outlook last month.
It is recalled that S&P had upgraded the Greek economy, placing it in the ranks of investment-grade states on October 20, 2023, with a rating of "BBB-".
In its last rating, last April, the rating agency took another step forward by upgrading the outlook of the Greek economy from "stable" to "positive", thus putting Greek debt on track for a new upgrade for the next 24 months.
Taking into account the above fact, It is also the prevailing agency that can upgrade Greece to the second "step" of the investment grade.
In its latest assessment, S&P had forecast that the government would continue its tight fiscal policy, thus contributing to the reduction of public debt as a percentage of GDP.
At the same time, the international agency had estimated that Greece will continue to grow at a rate higher than that of the eurozone, at least until 2027.
Regarding the rest of this year's ratings, Fitch Ratings will announce its verdict on Greek debt on November 22 and Scope on December 6.
