S&P Global Ratings reaffirmed Greece’s long-term sovereign credit rating on Friday.
The country’s creditworthiness was graded by S&P at ‘BBB’ with a stable outlook, one notch above investment grade.
S&P noted that it conducted its semi-annual assessment based on the latest data, without publishing a new report.
The agency had upgraded Greece to investment grade in April 2025.
Fitch, DBRS and Scope rate Greece at the same level as S&P, whereas Moody’s rates it one notch lower, at Baa3, AMNA reports.
Moody’s recent upgrade of Greece’s credit rating
In March, global ratings agency Moody’s upgraded the Government of Greece’s long-term issuer rating from Ba1 to Baa3, shifting the country’s economic outlook from positive to stable.
The upgrade signaled growing international confidence in Greece’s economy, driven by faster-than-expected improvements in public finances, robust institutional reforms, and a stabilizing political environment.
According to the agency, Greece’s sovereign credit profile now demonstrates heightened resilience to potential future economic shocks.
A primary driver behind the upgrade was the significant reduction in Greece’s national debt; the country’s debt-to-GDP ratio plummeted by roughly 50 percentage points since its 2020 peak. Moody’s estimates the ratio stood at 156.1 percent at the end of 2024 and projects a further decline to 140.6 percent by late 2026.
The health of Greece’s banking sector also factored heavily into the decision. While Greek banks are generating strong organic capital and improving profitability, Moody’s noted that the sheer volume of NPLs now held by credit servicers remains a slight drag on broader economic growth.
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