Economics
Greece Wins Moody's Upgrade as Reforms Start to Bear Fruit
- Debt rating lifted to B1, four levels below investment grade
- Government is planning to sell new debt in the coming weeks
Photographer: Kostas Tsironis/Bloomberg
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Greece’s sovereign credit rating was raised two levels by Moody’s Investors Service, helping the government’s plan to sell new debt as soon as this month.
The country’s long-term foreign currency debt was upgraded to B1 with a stable outlook from B3, Moody’s said in a statement on Friday. The new ranking remains four levels below investment grade.