Moody’s Upgrades Athens City to Baa3

Moody’s upgraded the credit rating of the Municipality of Athens, according to an official statement released by the Municipality, reflecting the city’s ongoing financial progress.

“The City of Athens looks toward the future with confidence, reinforced by positive ratings that confirm its steady course,” the statement reads. The global firm raised the rating to Baa3 from Ba1, with a stable outlook, while also upgrading its baseline credit assessment (BCA) to Baa3 from Ba1.

This latest upgrade highlights the Greek capital’s strong fiscal position, effective financial management, and positive economic prospects for the future Moody’s notes, adding that the city benefits from an improved economic environment and reduced exposure to systemic risks.

Financial data from 2024 show that Athens maintained a positive primary operating balance and a funding surplus, with expectations of continued positive financial results in the coming years. The city’s debt remained low, standing at approximately 22% of operating revenues by the end of 2024, with projections indicating a further decline by 2025.

At the same time, the municipality’s strong liquidity profile ensures stability and reliability. Moody’s emphasizes that the upgrade is not based on expectations of state support but on the city’s financial autonomy and resilience. The city continues to invest in infrastructure projects, green and digital transitions, and innovative initiatives that bolster its economic strength.

The credit rating upgrade confirms its steady path toward sustained economic growth and fiscal responsibility, further strengthening the city’s credibility and financial stability.

The Greek capital, previously considered by travelers as a one-day stop-by destination for tourists visiting popular islands in the Aegean Sea, has gradually emerged as a trendy popular final destination for millions of travelers.