Economics
Moody’s Raises Greece’s Rating as Reforms Bring Progress
- Growth prospects over coming years are positive, Moody’s says
- Greece entered into a three-week lockdown as of Saturday
Photographer: Kostas Tsironis/Bloomberg
This article is for subscribers only.
Moody’s Investors Service raised Greece’s sovereign credit rating by one notch, despite the negative effect of the pandemic on the economy and the new three-week lockdown that started on Saturday morning.
The Mediterranean country’s long-term foreign-currency debt was upgraded to Ba3 with a stable outlook from B1, the first change since March 2019. “Ongoing reforms support a sustainable improvement in institutional strength and have already brought tangible progress in areas including tax administration and compliance and the fight against corruption,” Moody’s said in a statement.