S&P has affirmed Greece’s credit rating at BBB with a stable outlook, one notch above investment grade.<\/p>\n
S&P notes that it has made its semi-annual assessment of Greece’s credit rating, based on the latest data, without publishing a new report.<\/p>\n
The agency had upgraded Greece to within investment grade last April.<\/p>\n
The Fitch, DBRS and Scope also rate Greece’s credit at the same grade as S&P, while Moody’s rates it one notch lower, at Baa3.<\/p>\n
The decision by S&P Global Ratings was largely expected, given the circumstances. Other international rating agencies had taken a similar stance in the previous period. Morningstar DBRS maintained Greece at “BBB” with a stable outlook<\/b>in early March, while shortly afterwards both Moody’s, maintaining the rating at “Baa3” with a stable outlook, and Scope, which affirmed “BBB” with a stable outlook, moved in the same line.<\/b><\/p>\n
Now pending is the Fitch Ratings rating, which is scheduled for May 8.<\/p>\n
Despite the expected nature of the decision, today’s rating was of particular interest as it is S&P’s first report after two months of war in the Middle East.<\/b>This timeframe allows for a clearer reflection of the impact of the crisis on the economy, particularly in terms of energy, inflation and the broader fiscal outlook.<\/p>\n
Our interest has also been boosted by the recent announcement of the 2025 surplus,<\/b> as the assessment of fiscal performance and the path of public debt de-leveraging could set the stage for a possible upgrade at S&P’s next “rendezvous” with the Greek economy in October.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"
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