Moody's Lifts Greece Outlook; Scope Upgrades Rating to BBB+

Moody's Ratings revised Greece's outlook to positive from stable while affirming its Baa3 investment-grade rating, citing stronger evidence that structural reforms are boosting economic and fiscal resilience beyond previous expectations. The agency noted that greater resilience could lift structural growth and support continued debt reduction, including early repayments of crisis-era loans.

Scope Ratings upgraded Greece's long-term issuer rating to BBB+ from BBB with a stable outlook, marking its second upgrade within the investment-grade category in under two years. Scope highlighted the rapid decline in the debt-to-GDP ratio, driven by large primary surpluses, tax administration improvements, and active debt management by the Hellenic Republic Public Debt Management Agency.

“Greece is being upgraded at a moment when international markets are being tested. And that has tremendous value.”

Both agencies pointed to sustained reform implementation, rising private investment, and healthier private-sector balance sheets as key drivers. Moody's cautioned that constraints remain, including still-high public debt, large external deficits, moderate productivity, and significant non-performing loans outside the banking sector.

Finance Minister Kyriakos Pierrakakis said Greece is being upgraded while international markets are under stress, underscoring the credibility of the government's fiscal strategy. Deputy Finance Minister Nikos Papathanasis called the dual announcements international recognition of the Greek economy's resilience and reform progress.