Greek Finance Ministry happy with Moody’s verdict
Moody’s began upgrading the Greek economy by two notches just six months ago, on September 15.
No further upgrade was expected in such a short period of time, the established practice of rating agencies is to allow a reasonable amount of time between upgrades, both in terms of evaluation and outlook, commented the Ministry of National Economy and Finance regarding the rating agency’s announcement last Friday, maintaining the credit rating of the Greek economy at Ba1 with stable prospects, without assigning an investment rating.
According to the ministry, Moody’s is “the last agency from which we expect the investment grade, already awarded to the Greek economy by Standard and Poor’s, Fitch, DBRS, R&I and Scope.”
