ATHENS, Greece — A major international agency on Friday upgraded Greece’s credit rating to investment grade, a move that is expected to boost investor confidence in the formerly bailout-dependent country.
DBRS Morningstar said in a statement that its decision to upgrade Greece to BBB from BB reflects its view that Athens "will remain committed to fiscal responsibility, ensuring that the public debt ratio stays on a downward trend.” “This is a very significant development for our country,” Finance Minister Kostis Hatzidakis said late Friday. “It also means a further improvement of our borrowing terms, more investment, growth and jobs.”