Greece’s economy is scheduled for evaluations by international rating agencies this September, with particular attention on Moody’s assessment, as it is the only major agency that has yet to award Greece an investment-grade rating.

The series of evaluations will begin with DBRS on September 6, followed by Moody’s on September 13, Standard & Poor’s on October 18, Fitch on November 22, and Scope Ratings on December 6, 2024.

Moody’s Chief Credit Officer, Colin Ellis, recently hinted at a possible upgrade to investment grade for Greece during an Economist conference, though he did not confirm any specific actions for September.

While Moody’s remains the last major agency not to grant Greece investment-grade status, many analysts believe that the upgrade may not be crucial since the investment community already considers Greek assets as investment-grade.

However, those who view Moody’s upcoming evaluation on September 13 as pivotal argue that, due to Moody’s global influence, an upgrade could lead to a substantial increase in demand for Greek bonds, potentially up to €20 billion.

Currently, Moody’s rates Greece at Ba1, just one level below investment grade, with a stable outlook.

In August 2023, the first major move towards Greece’s upgrade to investment grade occurred when the German agency Scope Ratings assigned Greece an investment-grade rating. This was followed by DBRS in September 2023, Standard & Poor’s in October, and Fitch Ratings in December of the same year, leading to a BBB- credit rating.