Standard & Poor’s provided an early “Easter gift” on Friday evening (Athens
Standard & Poor’s provided an early “Easter gift” on Friday evening (Athens time) by again raising Greece’s rating, the third such upgrade within the past month and a half on the back of continued economic growth, fiscal discipline and what creditors view as an improved debt structure.
S&P’s decision raises the Greek economy to the second notch of investment grade ladder, at BBB with a stable outlook.
Additionally, the development comes after the same credit agency warned European countries over stated increases in defense spending, within the framework of NATO, saying their credit-worthiness could be affected.
In a statement, the credit agency stated that “…Despite the difficult external environment, in most scenarios, Greece will see further firm reductions in net debt to GDP; in our central scenario, we expect this ratio will fall by an average of 6 percentage points a year over the next four years.”
The development marks the latest confirmation that the country has firmly exited the bailout era of 2010-2018.
Rating firms began raising Greece’s debt rating from junk in 2023, with Moody’s – the strictest of the international agencies – the last to do so just a month ago.
For the Mitsotakis government the investment grade ratings mean lower
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