Greece’s sovereign-credit rating was lifted to investment status by DBRS Morningstar — the country’s most significant upgrade out of junk since it was rocked by a debt crisis more than a decade ago.
As well as representing a seal of approval for Prime Minister Kyriakos Mitsotakis’s economic agenda, DBRS is one of the ratings companies recognized by the European Central Bank, meaning Greek bonds will no longer face higher-than-normal haircuts when used as collateral in refinancing operations.