The Embassy of China sent a congratulatory notice to the Ministry of National Economy and Finance, after Greece’s credit rating was upgraded by two of China’s largest credit rating agencies.
The upgrade by the two rating agencies reflects China’s confidence in Greece’s improved economic situation, reduced risks in its banking system, the dynamics of reforms as well as growth prospects.
More specifically, on October 27, China Lianhe Credit Rating Co. upgraded Greece’s rating to investment grade BBB from BBB- with a stable outlook.
On October 26, Chengxin Credit Rating Group also upgraded Greece’s credit rating to BB+ from B- with a stable outlook.
The Chinese side estimates that the recovery of the investment grade by Greece will significantly contribute to the attraction of Chinese investments in the Greek market and will have a positive impact on the potential of economic and commercial cooperation between the two countries.
