ATHENS – Moody's Investors Service on Friday upgraded Greece's credit rating and foreign currency long-term issuer ratings to Ba3 from B1, with a stable recovery outlook in 2021, said the financial agency.
The upgrade came just as Greece is entering a three-week nationwide coronavirus lockdown on Saturday.
Welcoming the upgrade, Prime Minister Kyriakos Mitsotakis wrote on Twitter in English: "Moody’s upgrade of Greece's rating, which came in the midst of a global recession, is a strong vote of confidence in the growth prospects of the Greek economy post-Covid."
PM Mitsotakis on Nationwide Lockdown
Restricting our freedom of movement, in free will, is a practical gesture of solidarity to our fellow citizens in support of the joint struggle against the coronavirus, said Prime Minister Kyriakos Mitsotakis about the three-week nationwide lockdown that came into effect on Saturday.
Speaking during a Saturday e-meeting of key ministers and New Democracy party executive secretariat officials, the Greek Premier also referred to Moody's upgrade of Greece's credit rating at the height of the coronavirus pandemic: "While all economies face an unprecedented recession, Moody's upgraded the prospects of the Greek economy, essentially recognizing the significant growth dynamics and reforms that are taking place in the midst of a pandemic – the growth that may come in Greece when the pandemic is over," he stressed.