Moody's Remains the Sole Major Rating Agency to Keep Greece Below Investment Grade

Moody's credit rating agency.

Moody’s remained the only major rating agency on Friday to maintain Greece outside the investment-grade states as it affirmed the country’s credit rating at “Ba1”, with a stable outlook.

Last September, the agency had raised Greece's rating two notches from “Ba3”. It has therefore maintained Greece one notch below investment level.

Moody's is considered the toughest of the credit rating agencies that the European Central Bank consults regarding the solvency of European member-states, alongside Standard & Poor's, Fitch Ratings, DBRS Morningstar, and Scope Ratings, all of which have placed Greece on investment level since 2023.

Back at the start of Greece's financial crisis in 2010, Moody's was also the first agency to consider Greek sovereign bonds as "junk," and the other agencies followed. The next rating decision by Moody's is expected in September.

S&P will be the next major agency to give its verdict on Greece, on April 19.

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