Moody’s Global Ratings revised Greece’s long-term sovereign credit rating to Baa3 from Ba1, citing a faster-than-expected improvement in public finances and greater resilience to future economic shocks.
The agency also upgraded Greece’s outlook from positive to stable.
Moody’s expected the country to continue to run substantial primary surpluses, which will steadily reduce its high debt burden due to institutional improvements and a stable political environment.
The country’s debt-to-GDP ratio has decreased by nearly 50 percentage points since its peak in 2020 and is expected to fall below 150% this year.
Standard & Poor’s credit rating for Greece stands at BBB- with a positive outlook.
DBRS’s credit rating for Greece was last reported at BBB with a stable outlook.