S&P leaves Greece's rating at BBB as agencies signal steadier credit outlook

S&P Global Ratings confirmed Greece's long-term sovereign rating at BBB and its short-term rating at A-2, leaving both scores unchanged from the agency’s April review. This marks the fourth of five major rating agencies to assess Greece in the latter half of 2026. Earlier, Scope Ratings upgraded the country to BBB+ with a stable outlook, Moody’s affirmed a Baa3 rating and moved its outlook to positive, and DBRS Morningstar retained a BBB rating while turning its outlook positive.

Fitch is expected to finish its review on November 6. S&P’s earlier upgrade from BBB- to BBB in April 2025 was based on sustained fiscal performance and ongoing public-debt reduction, supporting Greece’s return to investment-grade status in 2023. While the economy benefits from primary budget surpluses, growth, and EU-funded projects, challenges remain, including high debt levels, external imbalances, energy import dependence, low productivity, and demographic pressures. The agency’s stable outlook suggests no rating change is anticipated in the near term, though future adjustments remain possible.