A debt relief package offered to Greece by its creditors last week is a significant benchmark in Greece’s ongoing recovery from its deep government debt, economic and banking crisis, Moody’s said on Monday, according to ANA.
“We expect the agreement to pave the way for the government to return to capital market funding on a sustained basis, a credit positive,” it noted in a report.
Moody’s, which rates Greece at B3 positive, pointed out the debt relief ensured the government would be facing “very moderate” refinancing needs for the next 10 years. “We consider the package a significant benchmark in Greece’s ongoing recovery from its deep government debt, economic and banking crisis,” the agency said.
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