Moody's upgraded Greece's credit rating, becoming the latest major rating agency to remove the "junk" status of government bonds due to their unsecured nature. This revocation, which began 15 years ago during Greece's severe debt crisis, was considered by Finance Minister Kostis Hatzidakis to be a "significant" step toward the end of a major cycle for the Greek economy and confirms the country's return to European normality.
Moody's announced the upgrade of Greece's credit rating to Baa3 from Baa1, stating that the public finance situation, which had improved more rapidly than expected, was a key factor in its decision. The agency highlighted the government's political stance, institutional improvements, and the stability of the political environment. It expects Greece to continue achieving large primary surpluses, which will steadily reduce its high debt burden.
Source (Asharq Al-Awsat newspaper, edited)
