Moody’s, Scope Upgrade Greece’s Credit Outlook, Rating

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Μoody’s Ratings on Friday revised its outlook on Greece’s sovereign credit rating to Positive from Stable while affirming the country’s long-term rating at Baa3, citing stronger-than-expected improvements in economic and fiscal resilience and greater confidence that structural reforms will continue to strengthen the country’s credit profile.

The agency said the change in outlook reflects increased upside potential for Greece’s credit profile as there is now more evidence that the authorities’ sustained focus on structural economic and institutional reforms is delivering results, strengthening economic and fiscal resilience by more than Moody’s had previously expected.

Moody’s said the developments could support higher structural growth rates and strengthen the government’s capacity to continue reducing public debt over the longer term, including through the early repayment of part of Greece’s crisis-era loans.