Greek Sovereign Debt Rating Raised by Moody’s on Fiscal Outlook

Greece’s credit rating was raised two levels by Moody’s Investors Service, which cited a better fiscal and economic outlook for the country that was at the center of Europe’s debt crisis.

The country’s long-term local currency debt was upgraded to Caa1 from Caa3, New York-based Moody’s said in a statement yesterday. The nation’s short-term debt rating is unaffected and remains not prime, or NP.