Moody's Upgrades Greece to Investment Grade, Ending 15-Year Financial Crisis

Greece has officially emerged from its financial crisis era as Moody’s upgraded the country's credit rating to investment grade, marking a significant milestone after over a decade of economic instability. The upgrade from Ba1 to Baa3 reflects improvements in fiscal health, public finances, and resilience against economic shocks, with Moody's highlighting substantial primary surpluses and a stable political environment. Prime Minister Kyriakos Mitsotakis welcomed the upgrade, emphasizing the government's commitment to ongoing reforms aimed at attracting investment and fostering economic growth. This decision follows similar upgrades from other major rating agencies, restoring Greece's status across all three major international agencies. Despite the positive news, the government faces ongoing challenges, including criticism related to its handling of past crises. Nonetheless, the upgrade is expected to enhance Greece's access to capital markets and further stabilize its banking sector.