Greek economy wins new vote of confidence with credit rating upgrade and hopes for investment boost

ATHENS, Greece — Greece won new certification of its financial health Friday, as Standard & Poor's became the first of the three major international ratings agencies to upgrade the formerly struggling country's credit rating to investment grade.

To secure the rescue loans, successive Greek governments undertook to impose painful spending cuts and tax hikes while broadly reforming the economy and balancing the state budget. Securing investment grade was a key target for Prime Minister Kyriakos Mitsotakis, who won a second term in office in a landslide election victory in June.

In early September, ratings agency DBRS Morningstar also upgraded Greece's credit rating to investment grade. Days afterwards, an upgrade by Moody’s raised the country’s bonds to just one notch inside junk territory. Captured Hamas weapons hint that if Israeli forces invade Gaza, they could face a deadly improvised bomb that US troops feared in IraqRepublicans in uproar at suggestion to empower temporary speaker until January to allow Jordan more time to convince recalcitrant members

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Greece Returned to Investment Grade by S&P After Over a DecadeGreece’s credit rating was raised to investment grade by S&P Global Ratings — the first such move by one of the big three assessors since the country was shaken by a debt crisis more than a decade ago.
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S&P upgrades Greece to investment grade for first time since 2010 crisisExplore stories from Atlantic Canada.
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