Greece’s Prime Minister Kyriakos Mitsotakis has responded enthusiastically to the US credit rating agency Fitch’s credit rating upgrade. “Double promotion for Greece,” the Prime Minister tweeted this Saturday. “Fitch has upgraded the Greek economy, taking us one step closer to ‘investment grade’.”
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The US rating agency Fitch raised the country’s credit rating by one level on Friday from “BB-” to “BB”, ie from “stable” to “positive”. The investment grade rating would be two levels better.
At the same time, the so-called Corruption Perception Index of Transparency International has improved, wrote Mitsotakis, who was elected as the business-friendly prime minister in July last year. “Greece is back!”
The news of the new creditworthiness comes almost exactly ten years after the then Greek Prime Minister Giorgos Papandreou called the European partners and the International Monetary Fund for help and announced the country’s quasi-bankruptcy. Years of aid programs and tough austerity measures followed.
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