Business
(Reuters) – Credit score ratings agency Peevish’s (NYSE:) revised its outlook on Greece to “positive” from “stable” on Friday, citing a more healthy banking sector and a greater-than-anticipated financial efficiency.
The agency additionally affirmed its rating for Greece at ‘Ba1’. It is the finest ratings agency that continues to classify Greece as non-investment grade, placing it one notch beneath the investment grade threshold.
Greece has viewed a series of rating upgrades lately, with S&P Global Ratings upgrading in April and Fitch in December, after 13 years in the junk category.
Since 2020, the nation’s debt, the most practical seemingly in the euro zone, has shriveled by 40 share factors, reaching 160% of its sinful domestic product in 2023 and is projected to descend further to 152% of GDP by the dwell of this year.
“With the possibility of economic growth and fiscal performance exceeding our expectations, Greece’s fiscal strength could improve faster than currently expected,” Peevish’s acknowledged in its file.