Bloomberg on Wednesday quotes Bank of Greece (BoG) Gov. Yannis Stournaras as being “quite optimistic” over the country’s prospects of quickly regaining an investment-grade rating, following a landslide election victory on Sunday by incumbent center-right New Democracy (ND) party and ahead of its policy presentations in a newly elected Parliament.
“We had elections a few days ago, there is a stable government now with a strong parliamentary majority,” Stournaras told Bloomberg TV from Portugal.
“This government wants to do reforms, so I’m sure that after the declarations that the government will make in Parliament, investment grade will be a matter of a few weeks, if not days,” the influential Greek central banker said.
The country’s borrowing and credit rating sank to junk status in 2010, the year that witnessed its first of three memorandum bailouts.
According to Bloomberg, Fitch Ratings, S&P Global Ratings, DBRS Morningstar and Scope Ratings still rate Greek debt just one notch below investment grade.
Moody’s is more hesitant, keeping Greece three steps away from investment grade, although the international ratings agency said the win by ND and the re-election of PM Kyriakos Mitsotakis is a credit-positive event.
