DBRS Ratings upgrades Greece’s main credit rating to ‘B’

DBRS Ratings Limited (DBRS) announced late on Friday that it upgraded Greece’s main credit ratings from CCC to B and maintained the positive outlook.

DBRS also upgraded the country’s Short-Term Foreign and Local Currency – Issuer Ratings from R-5 to R-4 and maintained the stable trend.

It explained that the upgrade is due to the strong reform progress made by Greece since 2010, the good signs of economic recovery in 2017 and three consecutive years of fiscal over-performance. Moreover, political dangers have been reduced, the third programme review has been concluded and the fourth programme review is underway, it said.