The US-based bond credit rating firm Moody’s announced on Friday that it has increased Greece’s government bond rating from Caa3 to Caa1, in response to the implementation of the structural reforms.
Moody’s further noted that the country’s short-term debt rating is unaffected and remains Not Prime (NP) and that the outlook on the rating is stable.
Furthermore, Moody’s estimated the general government debt-to-GDP ratio will peak at 179% GDP and will begin to drop next year.
