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Greece Wins Moody's Upgrade as Reforms Start to Bear Fruit

  • Debt rating lifted to B1, four levels below investment grade
  • Government is planning to sell new debt in the coming weeks
Greek Investment Surge Helps Economy Just About Avoid Stagnation

Photographer: Kostas Tsironis/Bloomberg

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Greece’s sovereign credit rating was raised two levels by Moody’s Investors Service, helping the government’s plan to sell new debt as soon as this month.

The country’s long-term foreign currency debt was upgraded to B1 with a stable outlook from B3, Moody’s said in a statement on Friday. The new ranking remains four levels below investment grade.