He promoted the Greek economy and granted it an investment grade

Credit rating agency Standard & Poor’s (S&P) gave what was long awaited Investment grade In Greek bonds Its credit rating was raised to BBB- from BB+ with a stable outlook.

According to imerisia.gr It is the second of the four major rating agencies that it takes into consideration European Central BankWhich took this step, as it was preceded last September 8 by the Canadian DBRS.

In his announcement, Mr Standard & Poor’s does Reason for general improvement Finance in Greece Thanks to Financial adjustment effortsNoting that since the debt crisis of 2009-2015, significant progress has been made in dealing with Greece’s economic and financial imbalances.

“We expect additional structural economic and financial reforms, together with significant resources from the European Union, to support strong economic growth in the period 2023-2026 and reinforce the continued reduction of public debt,” the Council notes.

With the upgrade from the DBRS, Greece had already ensured the inclusion of its bonds in the European Central Bank’s (QE) bond purchasing programmes, without the need for extraordinary approval, but with the upgrade from Standard & Poor’s, the way is open for Greek bonds to enter Greek portfolios. International institutional investors such as large pension funds and mutual funds.

“We are determined to continue reforms.”

“We are determined to continue our reform programme,” Prime Minister Kyriakos Mitsotakis said in a post after the promotion.

“It is an important milestone today, as Standard & Poor’s Global Ratings has upgraded Greece. We are proud to recognize what our country has achieved. We are determined to continue our reform programme, a path that attracts investment, creates jobs and delivers inclusive growth.”