Greece's Credit Rating Upgraded to Investment Grade by Standard and Poor's for First Time Since 2010

S&P's upgrade, from BB+ to BBB-, is expected to boost confidence, attract investment, and lower borrowing costs in Greek's economy; the country is enjoying a stable economic outlook thanks to rapid recovery and effective budgetary controls.

Standard & Poor's has upgraded Greece's credit rating from BB+ to BBB-, the first of the 'big three' agencies (S&P, Fitch, Moody's) to rate the country as investment grade since the 2010 financial crisis.
The recent upgrade is expected to boost the Greek economy by attracting investment and making borrowing less expensive.
Supported by rapid economic recovery, Greece's government has consistently surpassed its budget targets. Greece's debt is decreasing as a percentage of its annual output.
Attaining investment grade was one of the goals set by Prime Minister Kyriakos Mitsotakis, who viewed this as an important step in stabilising Greece's economic situation.
The other two major ratings agencies, Fitch and Moody's, currently rate Greece one notch below investment grade, but Fitch is expected to reassess Greece's rating by the year's end.