2023-09-09 14:10:22
The Greek flag is hoisted in front of the Acropolis
Athens lost its investment status in spring 2010 when the sovereign debt crisis broke out.
(Foto: LightRocket/Getty Images)
Athens After more than 13 years, Greece is the last euro state to return to investment status. Canadian rating agency DBRS Morningstar on Friday raised the country’s credit rating from BB (high) to BBB (low). This means the country will once again receive the coveted investment grade seal of quality.
Athens lost its investment status in spring 2010 when the sovereign debt crisis broke out and in 2012 it even slipped into the default category with two agencies with ratings RD and SD. Now DBRS justified the upgrade “with Greece’s impressive track record,” the “responsible fiscal management” of the government of conservative Prime Minister Kyriakos Mitsotakis and the “downward trend in the public debt ratio.”
In the summer, the Japanese rating agency R & I and the German Scope Ratings had already upgraded Greece to investment grade. However, the ratings of these agencies are not taken into account by the European Central Bank (ECB).
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