Greece Returned to Investment Grade by S&P After Over a Decade
- Upgrade from junk is first by a ‘big three’ credit assessor
- Move follows June’s re-election of reformist prime minister
Greece’s economy will expand 2.3% in 2023 and 3% in 2024, according to government projections.
Photographer: Kostas Tsironis/BloombergThis article is for subscribers only.
Greece’s credit rating was raised to investment grade by S&P Global Ratings — the first such move by one of the big three assessors since the country was shaken by a debt crisis more than a decade ago.
Friday’s decision puts Greece at BBB- with a stable outlook. S&P joins Japan’s Rating and Investment Information Inc., Germany’s Scope Ratings and Canada’s DBRS Morningstar in lifting the nation out of junk territory. All did so following June’s resounding re-election of reformist Prime Minister Kyriakos Mitsotakis.