S&P’s next rating for Greece is on October 17. As Samuel Tillery, S&P’s chief analyst for Greece, points out, further upgrades would require greater progress in improving vulnerabilities.
S&P Global has affirmed Greece’s credit rating at BBB with a stable outlook, maintaining the country’s investment-grade status.
The agency, which upgraded Greece to investment grade last April, said the country achieved “exceptionally high” primary fiscal surpluses in 2023, averaging 3.4% of GDP.
S&P expects the government to post an overall fiscal surplus again in 2025 – for the second consecutive year – placing Greece among the few developed economies reducing public debt in absolute terms two years in a row.
While noting that Greece’s external imbalances remain elevated, the agency said the country’s participation in the euro area and adherence to EU fiscal rules offer protection against balance-of-payments risks.
S&P also highlighted Greece’s strong economic outlook, citing robust investment activity and sustained demand in the tourism sector as key growth drivers.