The upgrades of Greece’s credit rating by large credit rating agencies in 2025 are expected to continue into the new year, with Greece’s creditworthiness approaching rating A, which most eurozone countries have.

The first good news may come in March, when three credit rating agencies – USA’s Moody’s, Canada’s DBRS, and Germany’s Scope – will announce the first of their two assessments for 2026. The other two large agencies, America’s S&P and Fitch, will provide their first assessments in April and May, respectively.

Scope is closer to a new upgrade after raising Greece’s outlook to positive in its BBB rating, in November 2025. As it noted in its assessment, a positive outlook means a greater chance of an upgrade in the coming 12-18 months, as long as there is a further sustainable and significant drop of public debt that will be supported by continuing primary surpluses and prudent fiscal management.

Alternatively, Scope said, the upgrade could resulte from improvement in improving the medium-term growth prospects of the economy and strengthening its resilience to external shocks, or by the further enhancement of the banking sector and fiscal stability. These conditions seem to be guaranteed according to the state budget for 2026, in which the public debt is expected to be further reduced this year to 138.2% of GDP, from 145.9% in 2025, whiel it is expected to drop to 120% in 2029, according to the multiyear fiscal framework the government has presented. The debt reduction will be based on a primary surplus of 2.8% of GDP in 2026, with high primary surpluses expected in following years.