Scope Ratings Board Meeting in Athens Highlights Economic Recovery
Scope Ratings founder and CEO Florian Schoeller chose Athens last month for the annual meeting of the German rating agency’s board, pointing to a distinct shift in the Greek economy’s trajectory since its prolonged crisis period. Speaking to ekathimerini.com, Schoeller noted a palpable vitality on Greek streets that contrasts sharply with the atmosphere of prior years.
The Greek economy has made remarkable progress in strengthening financial stability and rebuilding investor confidence, according to Schoeller’s remarks to ekathimerini.com. He emphasized that while the crisis was exceptionally difficult, it demonstrated the deep resilience of the country’s institutions, businesses, and people.
Investment Grade Upgrades and the BBB+ Rating
In the summer of 2023, the agency became the first rating agency to return Greece to investment grade, a move that preceded subsequent upgrades from other international firms. Last month, the agency advanced Greece’s sovereign credit rating to BBB+, placing the country just one notch below the coveted “A” category.
That trajectory reflects a sequence of multiple upgrades over recent years. Schoeller told ekathimerini.com that his recent return to the Greek capital showed clear optimism among local residents and business leaders.
Scope Ratings restores Greece to investment grade
When did Scope Ratings return Greece to investment grade?
Scope Ratings restored Greece to investment grade in the summer of 2023, acting as the first rating agency to make the move before other institutions followed suit.
What is Greece’s current credit rating with Scope?
Scope Ratings raised Greece’s sovereign credit rating to BBB+, which sits exactly one notch below the “A” category.
Why did Scope Ratings hold its annual board meeting in Athens?
Scope Ratings founder and CEO Florian Schoeller selected Athens for last month’s annual meeting of the German agency’s board to observe the country’s economic progress firsthand.
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