Morningstar DBRS changed Greece’s credit rating to BBB from BBB (low), citing a healthier banking sector and the continued reduction in the country’s general government debt ratio. “The upgrade reflects DBRS Morningstar’s view that legacy risks in the banking system have receded, along with continued overperformance in fiscal targets,” DBRS said in a statement.
Greece expects GDP to grow by 2.3% in 2025, with a primary budget surplus of 2.4% of GDP, driven by higher investment and strong tourism revenue.
Meanwhile, the rating agency expects the country’s public debt-to-GDP ratio to fall below 14% in 2027.
Standard & Poor’s credit rating for Greece stands at BBB- with a positive outlook.
Moody’s credit rating for Greece was last set at Ba1 with a positive outlook.