ECONOMY

Scope Ratings takes Greece a notch from investment grade

scope-ratings-takes-greece-a-notch-from-investment-grade

German-based agency Scope ratings upgraded Greece’s sovereign credit rating late on Friday from BB to BB+, putting the country just one notch away from investment grade – the first rating agency to do so.

Finance Minister Christos Staikouras commented that “this is the third time a rating agency has upgraded the country’s solvency level amid the health crisis and high-uncertainty conditions around the world, thereby offering yet another vote of confidence in Greece and its prospects. Without a doubt its is a positive development which is added to a chain of positive developments and economic index improvement recently.”

This Friday, September 17, Canada-based DBRS Morningstar is also due to issue a credit rating report on Greece.