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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

By

Marcus Bensasson and

March 1, 2019, 9:57 PM UTCUpdated onMarch 2, 2019, 3:41 PM UTC

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.