Greece, a champion in debt slashing

Moody's projects that Greece will post one of the largest debt reductions internationally over the next few years, stressing that the sustainability of the Greek debt is already at a much better level than that of Italy (which is rated investment grade) and will continue to be.

This can only be another strong signal for an upgrade of Greece's rating in the near future, as according to all rating agencies, a key criterion for improving its rating and recapturing investment grade is confidence that the debt is on a steadily downward trajectory.

In a new analysis, Moody's reiterated that with the result of May's elections, the possibility of another New Democracy government increases significantly, which entails continuity in fiscal and economic policies and is therefore considered a credit-positive event.

The continued focus on improving the business environment...

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