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    Home > Finance > Moody's upgrades Greece to investment grade on strong fiscal recovery and stability
    Finance

    Moody's upgrades Greece to investment grade on strong fiscal recovery and stability

    Published by Global Banking & Finance Review®

    Posted on March 15, 2025

    2 min read

    Last updated: January 24, 2026

    Moody's upgrades Greece to investment grade on strong fiscal recovery and stability - Finance news and analysis from Global Banking & Finance Review
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    Tags:GDPfinancial crisisdebt sustainabilitycredit growthfinancial stability

    Quick Summary

    Moody's upgraded Greece to investment grade due to fiscal recovery and stability. Greek banks are stabilizing, and debt levels are decreasing.

    Moody's Boosts Greece's Credit Rating to Investment Grade Amid Recovery

    (Reuters) - Global ratings agency Moody's upgraded Greece's rating to "Baa3" from "Ba1" on Friday, citing quicker-than-expected improvement in public finances and the country's greater resilience to potential future shocks.

    "Based on the government's policy stance, institutional improvements that are bearing fruit, and a stable political environment, we expect Greece to continue to run substantial primary surpluses, which will steadily decrease its high debt burden," Moody's said in a statement.

    Since 2020, the nation's debt — the highest in the euro zone — has shrunk by more than 40 percentage points, reaching 154% of its gross domestic product in 2024, and is projected to drop further by the end of this year.

    Greek banks are steadying and returning to profit after being nationalized following the 2009 financial meltdown caused by the country's debt crisis, which put them in a vulnerable position, requiring several capital injections from the government.

    Last week, DBRS upgraded Greece's credit rating to "BBB" from "BBB low", two notches above the investment grade, citing a healthier banking sector and the continued reduction in the country's general government debt ratio.

    The agency also revised Greece's outlook to "stable" from "positive", reflecting a balance between persistent credit challenges that are slow to improve and the country's institutional stability, which supports positive prospects.

    (Reporting by Sruthi Narasimha Chari, Aatrayee Chatterjee in Bengaluru and Lefteris Papadimas; Editing by Alan Barona)

    Key Takeaways

    • •Moody's upgraded Greece's rating to 'Baa3' from 'Ba1'.
    • •Greece's public finances improved quicker than expected.
    • •Greece's debt has decreased significantly since 2020.
    • •Greek banks are stabilizing and returning to profit.
    • •DBRS also upgraded Greece's credit rating recently.

    Frequently Asked Questions about Moody's upgrades Greece to investment grade on strong fiscal recovery and stability

    1What recent change did Moody's make to Greece's credit rating?

    Moody's upgraded Greece's rating to 'Baa3' from 'Ba1', citing a quicker-than-expected improvement in public finances.

    2What factors contributed to Greece's credit rating upgrade?

    The upgrade is based on the government's policy stance, institutional improvements, and a stable political environment.

    3How has Greece's debt changed since 2020?

    Since 2020, Greece's debt has shrunk by more than 40 percentage points, reaching 154% of its GDP in 2024, with projections for further reduction.

    4What is the current outlook for Greece's credit rating?

    Moody's revised Greece's outlook to 'stable' from 'positive', reflecting a balance between credit challenges and institutional stability.

    5How are Greek banks performing post-upgrade?

    Greek banks are stabilizing and returning to profit after being nationalized following the 2009 financial crisis, indicating a healthier banking sector.

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