Greece is now in the investment grade, as the Canadian house DBRS Morningstar confirmed the expectations of the analysts and upgraded the rating of the Greek bonds.

Specifically, the Canadian house upgraded Greece’s credit rating to BBB (low) with a stable outlook (trend), from BB (high) – which was one step lower than the so-called investment grade – and stable outlook.

Finance Minister Kostis Hatzidakis spoke about an important development in a difficult situation

He noted that the Canadian rating agency DBRS Morningstar, one of the four international agencies recognized by the European Central Bank, gives Greece the so-called investment grade and in this way ranks it in a different category in terms of credit rating

The minister’s announcement in detail

“At a very difficult moment for our country, at a time when all our thoughts are with the victims of the unprecedented natural disasters and their families, the recovery of the investment grade for Greece after many years, is a very important development for our country.

The Canadian rating agency DBRS Morningstar, one of the four international agencies recognized by the European Central Bank, gives Greece the so-called investment grade and in this way ranks it in a different category in terms of credit rating. This jump was not easy, but neither was it technical. It presupposed, on the one hand, the systematic effort made over the last four years at the financial level, which had been rewarded until now with successive credit upgrades. It also means further improvement in lending conditions, greater investment in the country, growth and new jobs.

DBRS’ announcement is eloquent enough to warrant many further comments. It speaks both of the success of the government’s economic policy at different levels (increase in investment, exports, reduction of unemployment, reduction of debt as a percentage of GDP), and of the combination of political stability with responsible economic policy that creates a suitable climate for the further strengthening and development of the Greek economy. Our job is to seriously continue our efforts at the level of fiscal policy and structural changes, to convince both rating agencies, markets and investors that Greece is a country worth investing in and opening up to. new jobs. We owe it to all Greek citizens, we owe it to our homeland.”