(Reuters) – Credit score scores company Moody’s (NYSE:) revised its outlook on Greece to “constructive” from “steady” on Friday, citing a more healthy banking sector and a better-than-expected financial efficiency.
The company additionally affirmed its ranking for Greece at ‘Ba1’. It’s the solely scores company that continues to categorise Greece as non-investment grade, putting it one notch beneath the funding grade threshold.
Greece has seen a collection of ranking upgrades lately, with S&P International Scores upgrading in April and Fitch in December, after 13 years within the junk class.
Since 2020, the nation’s debt, the very best within the euro zone, has shrunk by 40 share factors, reaching 160% of its gross home product in 2023 and is projected to drop additional to 152% of GDP by the tip of this 12 months.
“With the potential for financial development and monetary efficiency exceeding our expectations, Greece’s fiscal energy might enhance quicker than at present anticipated,” Moody’s mentioned in its report.
