Investment grade in the final stretch
The government’s policy declarations a few days ago were in line with the expectations of rating agencies and are not seen as endangering the country’s fiscal course and the prudent fiscal policy – with a focus on growth, investment and debt reduction – that is also the ticket to investment grade, analysts from Fitch, Moody’s, S&P and DBRS have told Kathimerini.
At the FinForum conference organized last week in Athens, S&P and Fitch executives sent a rather cautious message regarding the prospects of Greece upgrading to investment grade anytime soon, causing some concerns.
Certainly the agencies will examine and analyze the new measures and priorities set by the government for the next four years, in order to arrive at their estimates for Greece’s short- and medium-term prospects.
Therefore, they need some time to reach their verdict, given also that their scheduled evaluations are expected from this fall onwards. After all, they must be sure that they have made the right decision. They may have been relatively quick with Greece’s upgrades in recent years, however, as they have pointed out in the past, the last… mile would not be easy.
