Greece gets double upgrade from Scope and Moody's

Two international rating agencies proceeded on Friday 18 September 2026 with an upgrade affecting the Greek economy, on the same day. Scope Ratings announced an upgrade of Greece’s creditworthiness from BBB to BBB+, maintaining stable outlook. The same day, American agency Moody’s kept the country at the investment-grade rating Baa3, but proceeded to upgrade its outlook from stable to positive. Scope Ratings’ upgrade places the Greek economy one notch higher than the previous rating, while Moody’s preferred to maintain the same rating of Baa3, while improving its outlook. The two announcements came from independent bodies, yet their timing coincided to reinforce the message sent to international markets regarding the trajectory of the Greek economy.

The new BBB+ rating from Scope Ratings constitutes, according to what was announced, the highest creditworthiness rating Greece has received in 17 years. This development comes after a long period during which the country was outside the investment-grade bracket, before gradually returning to it in recent years. The investment-grade rating is a benchmark for how international investors perceive the risk of lending to a state, and Greece’s long absence from the highest rating levels had been linked to the years of economic crisis. Meanwhile, Moody’s shift of outlook from stable to positive, without immediate change to the rating itself of Baa3, is an indication that the agency leaves open the possibility of further upgrade in the coming period, provided current economic trajectory of the country is maintained.

Economy Minister Kyriakos Pierrakakis commented on the two simultaneous announcements saying that «Two upgrades on the same day reflect the progress of the Greek economy, fiscal discipline and steady strengthening of the country’s position». For citizens and businesses, an improved creditworthiness image is typically linked with more favorable borrowing terms for the public sector, something that can in the long term indirectly affect the borrowing cost of households and businesses. A steadily improving creditworthiness image is also an element considered by foreign investors when evaluating placements in Greek bonds and companies. Developments in the economy sector are monitored closely, as the stability of the country’s creditworthiness is a benchmark for investors assessing Greek risk.

Prime Minister Kyriakos Mitsotakis referred to the «double upgrade» as confirmation of the correctness of the economic policy being pursued, without the full text of his remarks being provided. The government is expected to cite the two upgrades in upcoming presentations of its economic program, while markets will follow whether similar moves follow from other international rating agencies. Sectors closely linked to the country’s international image, such as tourism, are also expected to monitor developments, as stability of the creditworthiness image is often a factor taken into account by investors and sector companies.