Athens and the Mitsotakis government got a welcome fillip from Moody’s Investors Service on Saturday, the first day of a general Covid-19-related lockdown in Greece, as the former raised the country’s sovereign credit rating by a notch.
The east Mediterranean nation’s long-term foreign currency debt was upgraded to Ba3, and with a stable outlook from B1
Moody's pointed to “...ongoing reforms support a sustainable improvement in institutional strength and have already brought tangible progress in areas including tax administration and compliance and the fight against corruption."
Taking to his official Twitter account, Greek PM Kyriakos Mitsotakis said the decision, “which came in the midst of a global recession, is a strong vote of confidence in the growth prospects of the Greek economy post Covid."
