Greece hopes for investment boost after key credit rating upgrade

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ATHENS, Greece (AP) — 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. Despite a series of previous upgrades, Greece had until now failed to regain the investment grade it lost at the start of the 2009-2018 financial crisis that brought the country to the brink of bankruptcy. DBRS Morningstar said in a statement that its decision to upgrade Greece to BBB (low

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.”

 

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