Greece Wins Highest Rating Since Europe’s Sovereign Debt Crisis - bloomberg.com
Greece Wins Highest Rating Since Europe’s Sovereign Debt Crisis - bloomberg.com
Source: bloomberg.com
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DW NOTE
Greece received an investment-grade upgrade from a major ratings agency for the first time since the sovereign debt crisis. The same agencies that rated Greek bonds A-minus in 2009 — when the country was running a 15.1% fiscal deficit and hiding liabilities in derivative contracts — now believe Greece is creditworthy again after a decade of pension cuts and economic contraction that shrank GDP by 25%.