The US rating agency Standard & Poor's has not spoken on Greece's rating, with the country's credit rating remaining at BBB- (the lowest investment grade level), with a positive outlook. It will be recalled that last April S&P upgraded the outlook for the Greek economy to positive from stable. The investment grade was given to our country on October 20, 2023. 

WHAT IT MEANS

S&P's silence translates into the rating agency's willingness to see the resilience of the Greek economy. In order for the next upgrade to come within the investment grade, analysts BnB Daily spoke to said, debt reduction must continue over time, growth must be maintained above the European average in the medium term, the absorption of the Recovery Fund must increase, investment must increase, and reforms must continue. The fact that the positive outlook is maintained bodes well for an upgrade within twelve months, possibly from 2025. 

FITCH

On November 22, it is Fitch's turn to assess the performance of the Greek economy for the second time this year. The US agency is the only one of the agencies recognised by the ECB, which in its first assessment of the economy for this year last May did not upgrade the economy's outlook and of course maintained the economy's credit rating at BBB-. In its last assessment of the year, it is expected to proceed with the upgrade from stable to positive so that it has the scope for a rating upgrade within the next 12 months.

SCOPE

The last appointment is on December 6 at the German house. Since last summer, the house has undergone an upgrade and joined the club of the majors because the ECB has now formally acknowledged its ratings. Scope has upgraded its rating on the economy since July, but like all the other agencies, it maintains the economy's credit rating at the minimum investment grade. In its new assessment, the focus will be on the comments that accompany the rating and the chances of an upgrade of the economy over the next 12 months.