The news that the Canadian rating agency DBRS has upgraded the investment grade of Greek bonds is reported by international media.

This is the first of the four rating agencies recognized by the European Central Bank, which gives Greece investment grade again after 13 years.

Features, volBloomberg reports that the upgrade of Greek bonds to BBB (low) with a stable outlook is “the country’s most significant upgrade from junk status since the financial crisis that rocked it more than a decade ago.”

The agency also estimates that “besides the fact that it is a stamp of approval for the economic agenda of (Greek) Prime Minister Kyriakos Mitsotakis, DBRS is one of the rating agencies recognized by the European Central Bank (ECB), which means that now the value of of Greek bonds will not be reduced more than normal when they are used as collateral in refinancing operations”.

“The upgrade brings welcome news for Greece, which has been hit by devastating fires and extreme floods in recent weeks, causing billions of euros in damage,” writes the Financial Times.