DBRS upgraded Greece’s credit rating to investment grade status. The rating agency has upgraded the Greek debt to BBB (low) from BB (high), an investment grade status. The trends on all ratings remain stable.
This decision follows the decisions taken by two rating agencies, Scope and the Japanese R&I, which have already given investment grade status to Greece.
“Despite the challenging economic conditions in 2022, the Greek economy showed resilience, growing by 5.9% with also ongoing improvements in the labour market, supported by strong private consumption and investment and a rebound in the tourism sector,” DBRS said in a statement.
“The upgrade reflects DBRS ‘view that, in line with Greece’s impressive track record, the Greek authorities will remain committed to fiscal responsibility, ensuring that the public debt ratio stays on a downward trend,” it added.
