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> Economy

Bloomberg: Greek upgrade offers a path to the grand finale of the debt crisis

The reduction in Greece's debt costs raises optimism that Moody's will soon follow S&P and Fitch with an upgrade of the country's credit rating to investment grade

Newsroom March 14 10:21

 

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Greece could be poised to rid itself of the last vestiges of its debt crisis with a credit rating upgrade that would take it permanently out of the “junk” territory it entered 15 years ago.

Such a decision tonight by Moody’s, the only major rating agency that does not have Greece in investment grade, would be largely symbolic: The country’s bonds have been trading for two years at levels that suggest a more upgraded rating.

But a one-notch increase in Moody’s Ba1 rating – which currently has a positive outlook – would sever any remaining link to the debt mess, successive bailouts and economic turmoil that has rocked Greece for more than a decade.

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