Fitch Upgrades Greece’s Long-Term Credit Rating to BBB with Stable Outlook

Fitch Ratings has upgraded Greece’s long-term credit rating to BBB from BBB-, shifting its outlook from positive to stable, marking another milestone in the country’s post-crisis recovery trajectory.

In its latest review, the agency said the upgrade reflects Greece’s sustained debt reduction, strong fiscal results, and economic growth consistently outperforming the eurozone average. Fitch noted that these improvements represent a “durable strengthening” of the country’s macroeconomic and fiscal fundamentals.

The rating upgrade concludes this year’s assessment cycle for Greece and highlights what the agency describes as continued improvement across key economic indicators and financial metrics.

The Greek government welcomed the decision.

In an official statement, National Economy and Finance Minister Kyriakos Pierrakakis said the upgrade “confirms the progress achieved by the Greek economy and the credibility of its fiscal policy.”

He emphasized that Fitch acknowledges Greece’s significant debt reduction, strong budget performance, resilient growth momentum, and the ongoing strengthening of the banking sector.

According to the ministry, Greece continues to record the largest debt decline among investment-grade countries, cutting more than 60 percentage points of its debt-to-GDP ratio since 2020.