ATHENS, November 15, 2025 – Global credit ratings agency Fitch Ratings has raised Greece’s long-term foreign-currency issuer default rating by one notch to “BBB”, citing the country’s robust fiscal position and steady debt reduction. The announcement on Friday reflects Greece’s continued recovery from a prolonged financial crisis and highlights its commitment to fiscal prudence.

Strong Budget Performance and Economic Outlook

Fitch praised Greece for its recent fiscal outturns and 2026 budget plans, noting that they underscore the government’s dedication to maintaining disciplined public finances. The agency stated:

“Recent fiscal outturns and 2026 budget plans underscore the government’s strong commitment to fiscal prudence.”

The Greek economy is expected to outperform major European economies in 2026, benefiting from higher investment inflows, strong consumer spending, and improved economic productivity. Analysts highlight that Greece’s proactive fiscal policies, including measures to tackle tax evasion and expand electronic payment systems, have contributed to exceeding fiscal targets.

Recovery from Financial Crisis

Greece’s credit upgrade is particularly notable given its history of economic challenges. The country endured a severe financial crisis between 2009 and 2018, which resulted in high public debt, lost economic output, and significant external imbalances. Fitch noted that despite these legacy issues, Greece has successfully reduced its debt burden and maintained steady growth.

The agency also revised Greece’s outlook to “stable” from “positive”, balancing the nation’s strong economic fundamentals against lingering vulnerabilities, including:

• High but declining public debt levels
• External economic imbalances
• Contingent liabilities from the banking sector

Geopolitical and Global Economic Context

Fitch emphasized that Greece’s economy remains on a steady growth trajectory despite external challenges, including geopolitical tensions and global trade shocks. The agency expects the country to continue strengthening its fiscal and economic position, bolstering investor confidence in Greek sovereign debt.

Implications for Investors and Markets

The upgrade to BBB strengthens Greece’s creditworthiness, potentially lowering borrowing costs and enhancing investor appetite for Greek bonds. It also signals confidence in Greece’s long-term economic stability and resilience, further supporting growth in investment, tourism, and export sectors.