DBRS Morningstar on Friday confirmed its BB (high) ratings for the Greek economy, with trends on all ratings remaining “stable”, which based on the global credit rating agency’s appraisal table means one level away from “investment grade”.
DBRS’s ratings report comes seven days after Germany-based Scope Ratings maintained the rating of the Greek economy at BB+, giving a positive outlook, while adding that the development means “at least a one-in-three probability of an investment-grade rating within 18 months.”
“The stable trend reflects DBRS Morningstar’s view that Greece remains committed to ensuring fiscal and debt sustainability, despite the more challenging macroeconomic environment. On the back of a strong rebound in tourism activity, ongoing improvements in the labour market, and support measures, real GDP growth amounted to close to 6.0% in 2022,” DBRS stated, in beginning its key rating considerations analysis.
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