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Tuesday, September 26, 2023

DBRS gave investment grade to Greece

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The country's rating was upgraded to BBB with a stable outlook

Ο οκος DBRS εδωσε την επενδυτι&kappa ;or βαθμiδα στην Ελλαδα

Canadian rating agency DBRS has given Greece an investment grade rating, upgrading the country's credit rating to BBB with a stable outlook, from BB with a stable outlook.

The Minister of National Economy and Finance, Kostis Hatzidakis, after the announcement by DBRS Morningstar on the upgrade of the Greek economy to investment grade, stated that “in a very difficult moment for our country, at a time when all our thoughts are with the victims of unprecedented natural disasters and their families, the recovery of the investment grade for Greece after many years, is a very important development for our country”.

As the minister notes, the Canadian rating agency DBRS Morningstar, one of the four international houses recognized by the European Central Bank, “gives Greece the so-called investment grade and in this way ranks it in a different category in terms of credit rating”.

Speaking of a “jump”, he comments that this development also means “further improvement of lending conditions, greater investments in the country, growth and new jobs”.

“The announcement of DBRS is quite eloquent for many further comments to be made. It speaks both of the success of the government's economic policy at different levels (increase in investment, exports, reduction of unemployment, reduction of debt as a percentage of GDP), and of the combination of political stability with responsible economic policy that creates a suitable climate for the further strengthening and development of the Greek economy. Our job is to seriously continue our efforts at the level of fiscal policy and structural changes, to convince both rating agencies, markets and investors that Greece is a country worth investing in and opening up to. new jobs. We owe it to all Greek citizens, we owe it to our country”, concludes the minister.

Source: www.kathimerini.com.cy

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