The Greek government’s economic team is now setting its sights on the country’s next credit upgrade, following Moody’s long-overdue decision to raise Greece’s economic standing, to Baa3 from Ba1, on March 15.
In the coming months, the government anticipates further assessments from Standard & Poor’s and Fitch, with hopes of securing a BBB rating. The ultimate goal of the Ministry of National Economy and Finance is to continue climbing the credit ladder until Greece regains an A rating—its standing before the 2010 crisis that led to years of bailout programs.
Moody’s is scheduled to conduct another review of Greece’s economy on September 19. Despite its recent credit upgrade, the agency still ranks Greece one notch below the other major rating firms.
However, given the volatile global environment—marked by trade uncertainties due to Trump-era tariffs and Europe’s preparations to activate its escape clause for defense spending—a second upgrade within the same year would be a challenging prospect.
The next key moment comes on April 18, when Standard & Poor’s will deliver its first evaluation of Greece’s economy for the year. In October 2023, the agency restored Greece’s investment-grade status but kept it at BBB- throughout 2024.
Now, following upgrades by DBRS and Moody’s, it is set to reassess. Given that Standard & Poor’s revised Greece’s outlook from “stable” to “positive” earlier this year, an upgrade to BBB would not be unexpected.
Fitch’s review on May 16 will be another pivotal moment. The U.S.-based agency granted Greece an investment-grade rating in late 2023, maintaining a BBB- with a “stable” outlook throughout the past year.
Further ahead, Scope Ratings is scheduled to weigh in on May 30. In December, it surprised markets by upgrading Greece to BBB—the second tier of investment grade—while keeping its outlook steady.
Meanwhile, DBRS will follow on September 5, 2025, offering yet another opportunity for Greece to solidify its economic credibility on the international stage.
