Moody's raises Greece two notches to 'B1' but highlights challenges for further upgrades

Economy Tags: Ratings
Photo by Panayotis Tzamaros/Fosphotos
Photo by Panayotis Tzamaros/Fosphotos

Moody’s upgraded Greece’s credit rating by two notches on Friday, taking it to ‘B1’, from ‘B3’ previously, with a stable outlook, from positive.

Contrary to expectations in September, Moody’s did not take any rating action and opted for a more cautious approach, as Greece was also amid discussions with its lenders to finalise the budget for the new year by avoiding the pre-legislated pensions cuts.

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